Understand your industry competition structure... remember the Porter's framework!

After to discuss a lot about your target market and who is your primary customer (preferences, behaviours, buying processes, etc...), remember to explore as deep as well the market structure using this important and well-known framework "The Five Competitive Forces That Shape Strategy", from Mr. Michael Porter (the father from modern enterprise Strategy).

In this short video Porter talk about how youth this concepts are and how every industry could take benefits from them.

After that if you never read the original article, please, do it now, furthermore is completely free from Harvard Business Review. If you already read, it's always good to refresh the ideas reading this amazing statement.

http://hbr.org/2008/01/the-five-competitive-forces-that-shape-strategy/ar/pr

Good reading...