Market Mapping for Sustainable Growth

Market Mapping for Sustainable Growth

Innovation is crucial for business success, but it can be challenging to determine where to invest your resources for the best returns. Market mapping can help you locate your business in the market, see how it compares to competitors, and chart a path to success. To do this, Langdon Morris suggests starting with a matrix that maps market size and customization/differentiation. This will help you identify where your business is positioned, and how you can innovate to move it towards success. By examining successful companies like Wal-Mart and Ikea, Morris provides insights into how businesses can use market mapping to develop strategies for success.

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More Innovation Resources:

Risk, Great Ideas, and Your Business Model

To find innovative ideas for your business, Langdon Morris recommends researching your own business model, talking to customers and non-customers, and observing behaviors. He encourages thinking like an outsider and studying successful business model innovators.

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Innovate your purpose not just your product

The US Postal Service is struggling due to competition from digital communication and private delivery services. However, this could have been avoided if they had innovated their purpose.

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What Is The Service Innovation Process?

Service Innovation is an important concept in the business industry that can provide a competitive edge. It involves improving and creating new services to better serve customers.

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