Market Opportunities: Finding and Filling Them
Market Opportunities: Finding and Filling Them
This chapter discusses market opportunities, outlining how to identify market opportunities and to create new products and services to respond to customer needs. Part A reviews the main factor that triggers this search, namely, the need to grow. It explores various possibilities for growth. Two key growth-related issues bedevil marketing managers. One is that growth often leads to a blurring of focus. The second issue is the organization's capability to create new products or services. Part B discusses new product development (NPD), a proven way to drive markets and respond to the increasing expectations of customers. Part C provides a brief review of how consumers adopt new products and services. This discussion provides the first detailed look at one of the foundation concepts of marketing — market segmentation.
Keywords: market segmentation, market opportunities, brand extension, new product development, market growth, adoption
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