Comments on: Must you 'know' your market, really?

By: Aruni

Aruni — Wed, 21 Nov 2007 01:37:24 +0000

Great idea! My guess is that they do know about the market if they have kids. It is expensive to have kids. Ebay has shown there is a need to get stuff you want for a reduced price so why not build a forum where people can exchange kid stuff for free? Yes, breast pumps are expensive and just to let you know they advise that you do not exchange those primarily for Hep B possible transmission. However, I’d say most people do not have Hep B and those how have it probably know by the time is baby is born because they test for it.

By: mrwpants

mrwpants — Tue, 20 Nov 2007 02:04:37 +0000

Hmm, so basically this article was an add for zwaggle and didn’t really have anything to do with the actual title topic. Well linkbaiting is alive and well. Any chance of getting a real post about this topic?

By: alex4comment

alex4comment — Tue, 20 Nov 2007 00:11:24 +0000

You can understand business without understanding a specific market and do well. It’s just harder.

By: Alexander McMath

Alexander McMath — Mon, 19 Nov 2007 21:26:58 +0000

Personal, experiential knowledge of a market isn’t absolutely necessary. Hardly anything is, of course.

The caveat there, though, is that personal market knowledge is a big help in understanding the customer profiles and patterns that are underserved in that market, and thus being able to find ‘product-market fit’. Fair warning, though: failed ventures that don’t hit the mark may be founded by people who attempted to ‘think their way into’ the mindset of customers without having been there. Not always, depending on the ‘sympathetic’ qualities of the market, but it’s a risk.

By: Sean

Sean — Mon, 19 Nov 2007 20:29:45 +0000

I agree with Tobias, there is a big difference between knowing a market and being in a demographic. It sounds like Adam and Andrew understand their market quite well – likely better than most parents. In some ways being outside the demographic is an advantage since you tend to focus on common problems instead of your personal problems which may or may not be common.

While it is possible to get started without knowing your market, the minute the market becomes competitive the companies that know their market will rise above the rest.

By: Tom Foremski

Tom Foremski — Mon, 19 Nov 2007 19:26:09 +0000

Of course you need to know your market! As Tobias says, who says you need to be part of the market?

You need to know where your market is. I’ve met startups that have a product but don’t know who their potential customers are.

By: Tobias

Tobias — Mon, 19 Nov 2007 16:55:23 +0000

You don’t have to be part of a market in order to understand it.