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GROUP 6, SECTION-C
POSITIONING
For young future business leader at the prime of
career, PicDeck is a photo syncing app across
all devices which is very simple to use and can
be uploaded and shared with clients seamlessly
with a single-click
POSITIONING STATEMENT
Inaccurate estimation of the market size
Lack of quantitative data analysis in decision-making, in general, could lead to either
overestimation or underestimation of the size of the potential market.
Later, this could either lead to over-investment into a small set of potential buyers and thus low
revenues, or a stock-out and supply shortages when the product goes live on the market
Confirmation Bias
When using qualitative personas for market segmentation and targeting, the
researchers/managers usually bring assumptions and pre-conceived notions about the
segments to the research.
The resulting decisions are based on confirmation bias, causing crucial factors being ignored.
Hence, decisions made this way could have potentially disastrous consequences.