By Stephen Wunker
ARE you prepared FOR the longer term? New markets have powered the best company successes in background, from average Oil to fb. how are you going to realize and pursue new markets to make your enterprise thrive? In shooting New Markets, world-renowned enterprise strategist Stephen Wunker argues that step one is to forestall making use of conventional formulation of good fortune and comprehend the original dynamics in fast-changing new markets. He courses you thru the method of making counterintuitive thoughts, similar to treating opponents as collaborators, timing industry access, and focusing on slender niches ahead of gigantic shopper segments. shooting New Markets has been named one of many 5 most sensible enterprise Books of 2011. even if you're employed for a massive company or for your self, shooting New Markets is helping you discover new resources of progress. in keeping with Wunker's groundbreaking paintings with Clayton Christensen--the Harvard company tuition legend who coined the time period "disruptive innovation"--plus Wunker's huge event within the trenches, this useful and engaging consultant indicates how businesses: determine, create, and dominate new markets steer clear of the pitfalls of commodization and locate new how one can develop increase and maintain new resources of development into the longer term Drawing on dozens of case reviews plus data-driven examine, this progressive method of company indicates you ways to show new markets into the drivers of growth--propelling you and your organization right into a entire new international of chance. you will how one can count on client calls for and meet rising wishes ahead of a person else does. you will find tips to spot principles prepared for explosive progress, and the way to guide new markets whereas your opponents are only waking as much as the chance. you are going to additionally see how you can make those innovations paintings in businesses which are either small and intensely huge. shooting New Markets upends conventional considering enterprise method, exhibiting what is going to paintings in a brand new economic climate marked by way of turbulence and alter. this is often the source you must remodel industries and the clients of businesses inside of them.
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Extra resources for Capturing New Markets: How Smart Companies Create Opportunities Others Don't
Amateur photographers embraced the new plates, but picture taking remained costly and hard. ” He knew that photography was fun and appealing for the masses, particularly in an era when leisure activities such as bicycle riding, professional sports, and vaudeville were changing lifestyles. Eastman just needed to get photography to the point where it could be consumed easily. Eastman drew on a range of emerging technologies to create a celluloid film on a continuous piece of paper. After exposure, the photographer stripped the paper and developed the film.
Why New Markets Matter • 19 • Some firms, such as Philips, Fidelity Investments, Medtronic, and Johnson & Johnson, have shown that repeated discovery of new markets can power sustained corporate success over decades or longer. • Several current trends make new markets particularly important today. These include globalization, the free flow of information, the rise of virtual channels, the fast introduction of new open platforms, and economic discontinuities. This page intentionally left blank Chapter 2 FINDING NEW MARKETS F inding the unknown used to be a mission for the very brave or the very foolish.
Founded in 1891 as a producer of light bulbs, the company quickly succeeded and by 1910 was the country’s largest employer. 3 billion annually. Yet the firm quickly sought to leverage its electronics expertise into new markets. It produced its first medical x-ray tube in 1918. The company targeted certain sectors very aggressively; for example, it entered the nascent radio industry in 1927 and became the world’s largest radio manufacturer within five years. 42 Lighting now constitutes only 28 percent of company sales, whereas health-care electronics—an industry that did not exist when the company was founded—contributes 34 percent of revenues.
Capturing New Markets: How Smart Companies Create Opportunities Others Don't by Stephen Wunker