In the midst of a more rapidly changing environment, organisations might find themselves needing to explore new markets for products or services they have already developed. This is particularly pertinent if your organisation sells business to business and your customers are in sectors that are adversely affected by recent world events, such as hospitality, aerospace, marketing or leisure.

If that’s you, you may well be wondering what to do next.

Recently, Subsector was asked to help Bray Leino and Fuse to explore how a product that had been developed for marketing and promotions could also provide utility and benefit for other industries. Going through a structured process would allow them to identify where they should explore new markets and have the chance to open up potential commercial opportunities. Subsector helped the team to employ the Market Opportunity Navigator set of exercises in order to help them:

  • Break down the features and capabilities of the product and team
  • Create new combinations of features and skills and match them to specific needs and audiences
  • Assess to identify the most immediate and attractive opportunities
  • Clearly roadmap the next market opportunity for exploration, which to fall back to next and which to shelve for back up

Without facilitation and structure, trying to work out further market opportunities can feel more like a game of pin-the-tail-on-the-donkey.

At a time of huge uncertainty, employing such models for problem-solving can help a team get clarity and to decide how to progress.

If you have a product or service that will need to explore alternative models and market, these exercises can be done remotely, in less than one day. Get in touch if you want to know how we could help you.