How to Leverage Market Maturity Phases in Go-to-Market Strategies (3 of 3 in a series)
Overview: This blog post content is part of recent document that is available on my website. For the full document, go to my website on the Tools and Techniques page: Market Analysis Framework
This document provides an overview for a market analysis framework organized by market, product, competition and customer issues. The framework provides the foundation for a market segmentation analysis and includes a comprehensive, but not exhaustive, list of analysis factors. The factors have been designed to minimize criteria overlap and capture the most-relevant data. They can be characterized or quantified with a scoring model to determine market attractiveness. The framework helps to evaluate the impact of market entry or expansion on your existing business model, core competencies and organizational structure.
For each market phase, the framework provides a set of analysis characteristics. The set of characteristics are examples; you may find other characteristics that you want to use and other decision criteria to implement. The key is to develop an analysis framework that your company or organization can implement and support for market planning and product and service deployment.
Each market phase poses distinct challenges for vendors, as shown in the following table:
For example, vendor viability is most important during the consolidation phase, whereas in the emergence phase, companies need tutoring on the practical applications of the new technology. Also, as a market moves into the maturity and decline phases, a potential for market disruption exists because of new technologies, standards or new entrants to the market that can shake up the status quo.
Market and product planning is an ongoing effort. Shifts can occur quite rapidly because of the following factors:
Influence of changing economic conditions
New regulations
Emerging technologies and standards
Product delivery options (such as SaaS and cloud-based services)
Evolving computing models (such as movement from on-premises to cloud-based)
New, nontraditional and/or disruptive market entrances from new competitors
Use the report: Leverage Market Maturity Phases in Go-to-Market Strategies to help prioritize your go-to-market plans and strategies. It is important to re-evaluate your assumptions, market data and analyses on a regular basis. Because markets are demand-driven, they are dynamic and always changing.
Please contact me if you have any questions or comments: thomasgeid@comcast.net