Market Driven Competitive Advantage
Your strategy should be driven by the needs of the market. Becoming market-driven is critical to intentional product success. But it is not enough to understand your market. You have to sustain your understanding, and take advantage of it, competitively.
Markets Evolve Over Time
We all acknowledge that markets are not completely static. If they were, there would be no impetus for innovation. Customers change, their environment changes, and the competitive landscape changes. All of these changes cause a market to change. Even if a given market were static, you don’t have perfect information about it. Your understanding of that market increases over time.
The market is an abstract concept, and you have to make decisions about something tangible. What is tangible is your understanding of the market. And you make decisions based on your understanding of the market. You can visualize the market in a way that may cause you to rethink (or solidify) your approach to solving market problems.
26 Aug 2008 | Source: Tyner Blain
