You can choose from four main strategies to systematically create and master new markets. One way is to start from a blank slate with unknown clients and unknown products. This is the most exciting way to take, but the most powerful and dangerous, path 2 is to provide new products to known customers; Path takes 3 products known to unknown customers and path 4 is building a new market with known customers and known products – leads to Usually product line extensions and involves the risk that you wi … Read more »

You can choose from four main strategies to systematically create and master new markets. One way is to start from a blank slate with unknown clients and unknown products. This is the most exciting way to take, but the most powerful and dangerous, path 2 is to provide new products to known customers; Path takes 3 products known to unknown customers and path 4 is building a new market with known customers and known products – leads to Usually product line extensions and involves the risk that you will be defined by your knowledge. The ability to create and dominate a new market offers the prospect of work without competition and with increased edge. However, the company must choose the path that uses his knowledge. It is important to remember that the product is not only the device or service, but also the delivery process, customer interfaces and support systems. Examples from FedEx, AT & T, GlaxoSmithKline and other companies show the pitfalls and advantages of each of the 4 paths to new market strategies.
«Hide

from
Peter Meyer
Source: Business Horizons
5 pages.
Release Date: 15, May 2002. Prod #: BH074-PDF-ENG
Proven Strategies for New Market Mastery HBR case solution

[related_post themes="flat"]