Product Innovation Approach
In the product development cycle, the market analysis and consumer research phases are used to identify customers.
Organizations can be segmented by industry, size, function, level, and type of individuals within the organization.
Industry classifications can assist in determining what specific industries potential customers are in.
Preliminary research always saves time. Failing to analyze a prospect is the main reason for a great deal of wasted prospecting time spent on a customer who should have been promptly discarded after due research.