The main objective of this project is to provide Talotic Inc. with a deep and actionable understanding of its target market, enabling the company to make informed strategic decisions. This involves segmenting the market, profiling ideal customers, assessing their needs, analyzing competitor strategies, and understanding market behaviors. The insights gained from this project will help Talotic tailor its digital solutions more effectively to the needs of its clients, enhancing its market positioning and overall business strategy.

Expected Outcome:

By the end of the project, learners are expected to achieve the following outcomes:

• Market Segmentation: A comprehensive segmentation of Talotic’s target market into distinct categories, with detailed profiles for each segment.
• Customer Profiles: In-depth profiles of ideal customers within each market segment, including their needs, pain points, and decision-making processes.
• Needs Analysis: Detailed reports identifying the specific needs and challenges faced by businesses in each target market segment and how Talotic’s digital solutions can address these needs.
• Competitor Analysis: A thorough analysis of key competitors, including a SWOT analysis and an evaluation of competitor strategies, offerings, and market positioning.
• Market Behavior Analysis: Insights into the behavior and preferences of target market segments, including trends, patterns, and emerging opportunities.
• Business Stage Alignment: A matching of collected data and insights to Talotic’s business stages—Launch, Growth, Scale, and Innovate—providing tailored recommendations for each stage.
• Special Support Analysis: Strategic insights on how Talotic can better support newcomer immigrants, Indigenous peoples, socially responsible businesses, and environmentally sustainable firms.
• Comprehensive Reports: Detailed market analysis reports summarizing all research findings, insights, and strategic recommendations, presented to Talotic’s leadership team.

Tasks and Deliverables:

Market Segmentation Report:

• Task: Identify and categorize Talotic’s target market into segments.
• Deliverable: A detailed report outlining the various market segments, including demographic, geographic, psychographic, behavioral, and firmographic characteristics.

Customer Profile Report:

• Task: Create comprehensive profiles for ideal customers within each segment.
• Deliverable: In-depth profiles that document customer needs, pain points, motivations, and decision-making processes.

Needs Analysis Report:

• Task: Conduct a needs analysis for each market segment.
• Deliverable: Reports providing insights into the specific needs and challenges of each segment and how Talotic’s solutions can address these needs.

Competitor Analysis Report:

• Task: Identify and analyze key competitors within each market segment.
• Deliverable: A SWOT analysis and evaluation of competitor strategies, offerings, and market positioning.

Market Behavior Report:

• Task: Study and analyze the behavior and preferences of target market segments.
• Deliverable: Reports identifying trends, patterns, and emerging opportunities.

Comprehensive Market Analysis Report:

• Task: Summarize all research findings and insights.
• Deliverable: A comprehensive report with actionable recommendations and strategic advice, presented to Talotic’s leadership team.

Business Stage Alignment Report:

• Task: Match collected data and insights to Talotic’s business stages—Launch, Growth, Scale, and Innovate.
• Deliverable: Reports providing tailored recommendations for each business stage.

Special Support Analysis Report:

• Task: Analyze the needs and preferences of newcomer immigrants, Indigenous peoples, socially responsible businesses, and environment-focused firms.
• Deliverable: Strategic insights on how Talotic can better support these groups.

Stakeholder Interview Summaries:

• Task: Conduct interviews with internal and external stakeholders to gather additional insights.
• Deliverable: Summaries of stakeholder interviews, including key insights and feedback.

Support Provided by Talotic Inc.:

Regular Check-ins:

Scheduled check-ins and feedback sessions will be conducted to monitor progress and address any challenges.

Access to Tools and Technology:

Interns will be provided with the necessary tools and software to conduct their research and analysis effectively. This includes:

• Access to project management software like Trello or Asana to help track tasks, deadlines, and project milestones.
• Access to advanced AI tools like ChatGPT 4, Claude, and Gemini for data analysis and content generation.
• Tools like Canva and Google Suite for creating professional reports and presentations.
• Use of specialized research and data analysis software such as MarketMuse, SEMrush, and Statista
• Access to Google Analytics and Zoho for comprehensive data analysis and market insights.

Access to Data:

Interns will have access to relevant data and industry insights necessary for their research. This includes internal data from Talotic’s existing client base, market reports, industry publications, and other secondary data sources.