How to Differentiate in a Mature Market Driving growth in mature markets is hard. By definition, a market is “mature” when most of the customers’ needs are well-satisfied. The reason it’s so hard to differentiate, innovate and gain market share is because there are very few unsatisfied needs left to exploit. This situation tends to …
Drive Growth By Redefining Your Market Definition of a market: “A medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange.” — Investopedia Note that this definition is based on current goods and services. Consequently, it should be no surprise that many business leaders define their markets …
The One Thing You Must Do to Remain Flexible in Disruptive Times There’s an internal IBM PowerPoint slide making its way around the internet that declares, “The Digital Disruption Has Already Happened.” It cites the following evidence: World’s largest taxi company owns no taxis (Uber) Largest accommodation provider owns no real estate (Airbnb) Largest phone …
4 Steps to Launch an Offering (or a Presidential Candidate Like Trump) Presidential candidates are “new offerings” presented to the American public every election cycle. Here are four steps that I take with clients to help them determine what their customers really want, along with some thoughts about how this approach applies to presidential candidates …
How One Business is Disrupting Its Market I don’t write food or restaurant reviews, but I admire any organization that changes the game and distinguishes itself in a crowded field. One such organization is the fast casual restaurant Hot Chicken Takeover (HCT) in Columbus, Ohio. It’s disrupting the fast casual restaurant market by competing on …
How You Define Your Market Matters Definition of a market: “A medium that allows buyers and sellers of a specific good or service to interact in order to facilitate an exchange.” – Investopedia. Note that this definition is based on existing products and services. Consequently, it should be no surprise that many executives define their …
Urko’s Forbes Interview #1: How to Validate a Market (First published in Forbes, Jan 8, 2013, by Gregg Fairbrothers and Catalina Gorla, Contributing Writers) We’ve been talking about market validation. So far we’ve argued why it’s really important and the value it can bring. But how do you do it? This week we spoke with …
Have you ever found yourself wondering how to size a market for something that doesn’t exist? The conventional – and usually unhelpful – approach is to determine the historical revenue generated from the sale of pre-existing similar offerings.
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