Growth Through Adjacent Markets

Growth Through Adjacent Markets

Expanding into adjacent markets can provide significant sales growth opportunities for businesses. Adjacent markets are those that are close in proximity to a company's core business, and the key to success is in exporting skills and capabilities rather than existing products and services. By leveraging core competencies and creating new value with new customers, businesses can create new sales opportunities with less risk and more accessibility. When evaluating adjacent markets, it's important to consider competition, market size, and regulatory barriers.

View

More Innovation Resources:

How Do You Create an Innovation Culture?

How Do You Create an Innovation Culture?

Building an innovation culture involves articulating values and behaviors, enabling learning and practicing of those behaviors, reinforcing desirable behaviors, and reviewing and adapting as necessary.

View
Knowledge as a social process

Knowledge as a social process

The evolution of innovation in Silicon Valley has changed, but the underlying innovation dynamic remains the same, according to this article. Innovation spaces matter, especially in the early stages of a new industry.

View
6 Innovation Challenge Examples to Drive Creativity

6 Innovation Challenge Examples to Drive Creativity

Innovation challenges are a great way for companies to encourage creativity and collaboration. Here are six inspiring examples from around the world.

View