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Market development is a growth strategy that identifies and develops new market segments for current products. A market development strategy targets non-buying customers in currently targeted segments. It also targets new customers in new segments.
A market development strategy entails expanding the potential market through new users or new uses. New users can be defined as: new geographic segments, new demographic segments, new institutional segments or new psychographic segments. Another way is to expand sales through new uses for the product.
A marketing manager has to think about the following questions before implementing a market development strategy: Is it profitable? Will it require the introduction of new or modified products? Is the customer and channel well enough researched and understood?
In high tech, where discontinuous innovation is the norm, a successful market development strategy requires crossing the chasm between the early market and the mainstream.
Julia Elyachar studied the efforts of bankers, social scientists, ngo members, development workers, and state officials to turn the craftsmen and unemployed youth of Cairo into the vanguard of a new market society based on microenterprise. She considers these efforts in relation to the alternative notions of economic success held by craftsmen in Cairo, in which short-term financial profit is not always highly valued. Through her careful ethnography of workshop life, Elyachar explains how the traditional market practices of craftsmen are among the most vibrant modes of market life in Egypt. Long condemned as backward, these existing market practices have been seized on by social scientists and development institutions as the raw materials for experiments in âfree marketâ expansion. Elyachar argues that the new economic value accorded to the cultural resources and social networks of the poor has fueled a broader process leading to their economic, social, and cultural dispossession.
The authors of the international bestseller Business Model Generation explain how to create value propositions customers canât resist
Value Proposition Design helps you tackle the core challenge of every business â creating compelling products and services customers want to buy. This highly practical book, paired with its online companion, will teach you the processes and tools you need to create products that sell.
Using the same stunning visual format as the authorsâ global bestseller, Business Model Generation, this sequel explains how to use the âValue Proposition Canvasâ to design, test, create, and manage products and services customers actually want.
Value Proposition Design is for anyone who has been frustrated by new product meetings based on hunches and intuitions; itâs for anyone who has watched an expensive new product launch fail in the market. The book will help you understand the patterns of great value propositions, get closer to customers, and avoid wasting time with ideas that wonât work. Youâll learn the simple process of designing and testing value propositions, that perfectly match customersâ needs and desires.
In addition the book gives you exclusive access to an online companion on Strategyzer.com. You will be able to assess your work, learn from peers, and download pdfs, checklists, and more.
Value Proposition Design is an essential companion to the âBusiness Model Canvasâ from Business Model Generation, a tool embraced globally by startups and large corporations such as MasterCard, 3M, Coca Cola, GE, Fujitsu, LEGO, Colgate-Palmolive, and many more.
Value Proposition Design gives you a proven methodology for success, with value propositions that sell, embedded in profitable business models."
This highly respected annual guide to healthcare trends will help organizations plan for the future. In Futurescan 2016 2021, a panel of industry thought leaders addresses eight key issues regarding healthcare change and transformation. The expert insight in these pages is supported by data from a survey of 507 healthcare leaders across the country.
An essential tool for strategic planning, Futurescan 2016 2021 examines these notable topics:
The content of the book is applicable to any new business venture as well as for the development and implementation of growth opportunities inÂ mature organizations.Â Inherently international in its scope, the text includes numerous real world examples, taken from the authorâs own experience as a biotech entrepreneur,Â as well as from the wider global business community.
This book explains all of the stages involved in developing medical devices; from concept to medical approval including system engineering, bioinstrumentation design, signal processing, electronics, software and ICT with Cloud and e-Health development.Â
Medical Instrument Design and Development offers a comprehensive theoretical background with extensive use of diagrams, graphics and tables (around 400 throughout the book). The book explains how the theory is translated into industrial medical products using a market-sold Electrocardiograph disclosed in its design by the Gamma Cardio Soft manufacturer.The sequence of the chapters reflects the product development lifecycle. Each chapter is focused on a specific University course and is divided into two sections: theory and implementation. The theory sections explain the main concepts and principles which remain valid across technological evolutions of medical instrumentation. The Implementation sections show how the theory is translated into a medical product.Â The Electrocardiograph (ECG or EKG) is used as an example as it is a suitable device to explore to fully understand medical instrumentation since it is sufficiently simple but encompasses all the main areas involved in developing medical electronic equipment.Â
This book is written for biomedical engineering courses (upper-level undergraduate and graduate students) and for engineers interested in medical instrumentation/device design with a comprehensive and interdisciplinary system perspective.
The global phenomenon that has sold 3.6 million copies, is published in a record-breaking 44 languages and is a bestseller across five continentsânow updated and expanded with new content
In this perennial bestseller, embraced by organizations and industries worldwide, globally preeminent management thinkers W. Chan Kim and RenÃ©e Mauborgne challenge everything you thought you knew about the requirements for strategic success. Recognized as one of the most iconic and impactful strategy books ever written, Blue Ocean Strategy, now updated with fresh content from the authors, argues that cutthroat competition results in nothing but a bloody red ocean of rivals fighting over a shrinking profit pool. Based on a study of 150 strategic moves (spanning more than 100 years across 30 industries), the authors argue that lasting success comes not from battling competitors but from creating âblue oceansââuntapped new market spaces ripe for growth.
Blue Ocean Strategy presents a systematic approach to making the competition irrelevant and outlines principles and tools any organization can use to create and capture their own blue oceans. This expanded edition includes:
A landmark work that upends traditional thinking about strategy, this bestselling book charts a bold new path to winning the future. Consider this your guide to creating uncontested market spaceâand making the competition irrelevant.
To learn more about the power of blue ocean strategy, visit blueoceanstrategy.com. There youâll find all the resources you needâfrom ideas in practice and cases from government and private industry, to teaching materials, mobile apps, real-time updates, and tips and tools to help you make your blue ocean journey a success.
Product development is the magic that turns circuitry, software, and materials into a product, but moving efficiently from concept to manufactured product is a complex process with many potential pitfalls. This practical guide pulls back the curtain to reveal what happensâor should happenâwhen you take a product from prototype to production.
For makers looking to go pro or product development team members keen to understand the process, author Alan Cohen tracks the development of an intelligent electronic device to explain the strategies and tactics necessary to transform an abstract idea into a successful product that people want to use.
Alan Cohen, a veteran systems and software engineering manager and lifelong technophile, specializes in leading the development of medical devices and other high-reliability products. His passion is to work with engineers and other stakeholders to forge innovative technologies into successful products.