Start-up company’s attempt
Startups grow or die in one cycle after another: find a pain point problem or create a new demand, provide solutions, establish a specific target customer group, do a good job in promotion, sales, and promote it in a specific field. Gradually stabilize the core business and continue to grow or be acquired.
Regardless of the advanced technology or sufficient resources of the founder or founding team, the most important thing is to solve a real pain point problem or create a real demand for a specific target customer. The size of the market depends on this. Pain problems or needs are a small part of the population, or shared by most people.
“Market Segment” is very important, it is difficult to make a product that meets the needs of all customers between the ages of 18 and 78, or from the poor to the rich. According to the description of the Segment in The Lean Entrepreneur: A defined group of people who share the same problem and speak the same language. Refers to a specific type of people who have common problems and speak a common language. The language here does not mean Chinese or English, meaning that they can understand each other’s meaning behind the language, similar to Chinese "people". In groups."
The consumer groups facing many people are extremely sensitive to price. Many of them are good for good products and good brands, but the price is really unbearable. Many of them also buy various “cottage” brands when they know that they are fakes. Of course, some people are fooled. I was deceived and thought that I bought the real brand goods. The cottage version of Iphone is almost exactly the same as the original one. Even the software has been modified. The mobile phone interface, icons and click methods are similar to iphone, which is actually a low end. The Android platform has been transformed, and you can see obvious performance differences when you enter the application. This mobile phone sells quite well, not only in China, but also in Asia, Africa and Africa. If you don’t go deep into this consumer group It is difficult to deeply understand the needs of this group. With this kind of mobile phone, give yourself a psychological comfort or can install a dress in front of unfamiliar people?
According to World Bank data, by the end of 2017, the total global population is about 7.53 billion, the global GDP is about 80.7 trillion US dollars, and the global per capita GDP is about 10,700 US dollars (10717 US dollars). According to the World Bank’s 2015 standards: per capita GDP is less than $1,045 for low-income countries and between $1045 and $4,125 for middle-middle income countries. The total population of low-income countries is 732.4 million, and the per capita GDP is only 750 US dollars (about 1.82% of the per capita GDP of high-income countries).
The middle and lower income countries have the largest population, with a total population of 2.972 billion, a global share of 39.48%, and a per capita GDP of only 2,188 US dollars (about 5.3% of the per capita GDP of high-income countries). 50% of the total population. These countries have a large number of low-end consumer needs. In middle-income and even high-income countries, a large number of people are below the average consumption level and belong to low-income groups.
This article does not discuss all kinds of social responsibility, money and humanity, product infringement and other issues caused by the listing of many products. From the perspective of the market, we have found a lot of low-income people’s real needs and entered a huge market segment.
Jingdong, the same e-commerce company, has the vision to become the most trustworthy company in the world, emphasizing customer first, integrity, teamwork, innovation and passion. Jingdong has invested a great deal of effort to improve the user experience from all aspects, and establish an efficient logistics system to enable customers to get the shopping products in the shortest possible time; to crack down on counterfeit goods on the platform, to shape brand influence and so on. The consumer groups facing Jingdong are pursuing high-quality products, good shopping experience, and making life happy. The price is of course important, but it is not the most concerned factor for these consumers. Obviously, Jingdong and Jianduo face a very different group of people. Jingdong and Jianduo have created different platforms to meet the needs of these two groups of people.
After a lot of trials, the startups solved the pain points of certain people or met their real needs, polished the products or solutions, successfully promoted and publicized, and had a relatively stable customer base. Growing up and gradually growing, this is a good result. In addition, there are many situations in which they become the “touchstone” of the market. It is not necessarily these startups that really find gold.
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