By Stephen Wunker
ARE you prepared FOR the longer term? New markets have powered the best company successes in historical past, from ordinary Oil to fb. how are you going to detect and pursue new markets to make your corporation thrive? In shooting New Markets, world-renowned enterprise strategist Stephen Wunker argues that step one is to forestall using conventional formulation of good fortune and comprehend the original dynamics in fast-changing new markets. He publications you thru the method of making counterintuitive techniques, akin to treating rivals as collaborators, timing industry access, and concentrating on slim niches prior to mammoth client segments. taking pictures New Markets has been named one of many 5 most sensible enterprise Books of 2011. no matter if you're employed for an important company or for your self, shooting New Markets is helping you discover new assets of progress. in keeping with Wunker's groundbreaking paintings with Clayton Christensen--the Harvard enterprise university legend who coined the time period "disruptive innovation"--plus Wunker's wide event within the trenches, this sensible and engaging consultant exhibits how businesses: determine, create, and dominate new markets steer clear of the pitfalls of commodization and locate new how one can develop enhance and maintain new assets of progress into the longer term Drawing on dozens of case experiences plus data-driven examine, this innovative method of company indicates you ways to show new markets into the drivers of growth--propelling you and your organization right into a complete new global of chance. you are going to easy methods to count on shopper calls for and meet rising wishes prior to somebody else does. you will find tips to spot principles prepared for explosive progress, and the way to steer new markets whereas your rivals are only waking as much as the chance. you will additionally see how one can make those recommendations paintings in businesses which are either small and extremely huge. shooting New Markets upends conventional pondering enterprise technique, displaying what's going to paintings in a brand new economic climate marked by means of turbulence and alter. this can be the source you must rework industries and the clients of businesses inside them.
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Additional info for Capturing New Markets: How Smart Companies Create Opportunities Others Don't
Think about the calls you make today on your cell phone—how many would never have been placed if your only option was a landline handset? Think too about the leaders in the cellular business—giants such as Nokia and Vodafone were not present in traditional telecoms. Cellular telephony also was typical in other respects. Initial takeup was slow. Expensive and bulky handsets hindered the industry’s expansion, yet the tiny market seemed not to warrant big investment to make these devices significantly better.
Nothing. It enjoyed its highly profitable business and ignored these seemingly insignificant markets. Only in 2004 did the company launch a subscription-based service of its own, with the option of either in-store or mail pickup and delivery. S. 33 In 2009, Blockbuster Express was launched as a response to Redbox. Its kiosks rent DVDs at $1 a night, just like its competitor. There are a few extra bells and whistles, such as the ability to reserve a DVD online, but these features may be irrelevant to the target market for the machines.
In 1997, a California film buff named Reed Hastings paid a $40 late fee when he returned Apollo 13 to his local video store and had an epiphany. Hastings started a company called Netflix to capture a totally new entertainment market. Rather than compete for spur-of-the-moment rentals to people on their way home from work, Hastings targeted a market that was small because it was poorly served. Netflix renters had to order DVDs in advance over the Internet, receiving them in the mail a couple days later.