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Clarify New Product Development Strategy

Business-to-Business Marketer

What we did
• Sized the overall marketplace
• Analyzed business expenditure data in each segment of the marketplace
• Reviewed the competitive landscape
• Interviewed buyers in key marketplace segments

What we discovered
• Numerous marketplaces were underserved by the client and its competitors
• Obstacles to penetration were deeper than realized
• The marketplace was fragmented and potentially profitable only in certain segments
• New and previously unrecognized markets could drive additional new product opportunities

Strategy
• Present landscape of new product opportunities

Tactics
• Identified industries and types of companies offering the greatest opportunity for new product success
• Delineated value propositions and barriers to adoption for new product opportunities in these marketplaces
• Determined product feature-functionality requirements to penetrate the identified marketplaces
• Fleshed out product concepts and introduction strategy for key unrecognized marketplaces

Results
• Client resources have been allocated to specific market segments; products are under development; and test markets have been planned
• Low potential marketplaces have been abandoned

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