What is the best way to pinpoint your market segment in launching a group of products? -

I often see entrepreneurs who have great products but have not directed marketing efforts at appropriate market segments.

Peggy Lou, it does my heart good to read your question! So many entrepreneurs fall in love with the idea of creating a business -- with the marketing or the manufacturing. It s fun to watch stuff roll off the assembly line or to make the packaging as cute as can be. And I m not saying those elements aren t important. But going forward without knowing the market thoroughly is business suicide.The patient, smart entrepreneur takes the time to walk through each step of basic research: analyzing such pieces as potential market size, competitors, location, etc. through interviews or focus groups (formal or informal). You ll want to make realistic assessments of how many potential customers might be willing to try your product or service immediately, and how you might expand from the core group. SCORE, the organization of retired entrepreneurs, has pulled together a great two-part series to start the process here: http://www.score.org/new_biz_idea_part1.�� And Entrepreneur magazine has its version here: http://www.entrepreneur.com/startingabus��Hopefully, that kind of research will help you move forward smartly with your idea. But it also may lead you to a different conclusion: Yes, that there actually isn t a viable business here. While that might be a tough call, it sure is cheaper to learn that in the market research phase than further down the road.