When thinking about new products or enhancing existing products, product marketers are always faced with questions such as -
1) What are the problems to solve?
2) What products should be built?
3) What is the potential market size?
4) What is the right feature set that will make a compelling product that people will buy?
Two tools that can be used to find answers to these questions are market segmentation and personas (lately getting a lot of attention). Elaine Brechlin, in her article
Reconciling market segmentation and personas clearly describes what each of these tools are and the differences between the two using a simple example of Rear Seat Entertainment Systems.