New Product, New Market, or Both?
Why is this so difficult?
As the leader of your business unit or product group, you are responsible for delivering the right solution, to the right market, on budget. You are successful in your core markets, but you want to move into new markets. This requires a bigger shift than you think, and it will require your product, engineering, and sales teams to be especially aligned.
Ansoff Matrix, Igor Ansoff

Your ease of entry, risk level, and costs will vary greatly based on which path you choose.

The roadmap for success will look very different based on whether you choose to develop new products or pursue new markets. Or both. 

How do you choose?

Theoretically, your team could pursue new markets with your existing product. In reality, they will have to make modifications to your product to penetrate that market successfully. 

This inevitably puts you in the new product, new market quadrant. The riskiest one everyone tells you NOT to pursue. 

And if your product and engineering teams are not aligned, your chance of success just dropped even lower. 

The world-class team at Market Operandi has developed a system to lead you to the right solution, for the right market(s), with a team that is aligned across functions.

Our team has successfully led innovation groups at large companies such as Intel, ZEISS, IBM, ThermoFisher (FEI), and guided many MO clients through this strategy and process of market penetration. 

The Market Operandi System

 

The Market Operandi System                           

We will provide an agile framework that integrates with your existing Product Development or ISO processes. 

  • This framework will determine whether to pursue a new product, a new market(s), or both.
  • It will demonstrate how to align your existing team around your chosen path. It will also create accountability and improved adherence to timelines and revenue targets.
  • Market Operandi perfected this system through decades of our own innovation experience at large companies. 
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Product & Engineering Teams

 

Engineering + Product Managers

Your engineering and product teams have to work differently in this scenario. We have a process to break down silos and align your existing teams to:

  • Shift their focus from the product to the customer.
  • Develop a solution to a problem rather than a product in search of a problem.
  • Move away from iteration to true innovation.
  • Understand how R&D, Product Marketing, and Sales must work together as a team to deliver on the group's goals successfully.
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Strategic Planning Process

 

Strategic Planning Process                  

The MO team has successfully implemented our strategic planning process at numerous companies.

This proven planning process, and perhaps even more important, its execution, will ensure that you to adhere to your timeline and perform against your revenue targets. It includes:

  • Creating a unified vision for the group that is understood from the C-Suite down
  • Moving your team from a short-term tactical to a longer term strategic approach
  • Establishing monthly, quarterly, and annual targets and accountability processes for these milestones
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Your results:  

  • Achieving your "young revenue" targets and hitting them faster

  • The confidence that you have made the right choice in selecting your product/market strategy

  • Customer-focused product, engineering, and sales teams that are working toward a common goal

  • Improved milestone and budget adherence

  • An ongoing accountability and strategic planning process