Target Specific Opportunities

"Not all opportunities are created alike – some combine to generate even more customer value."
Strategyn CEO Tony Ulwick

For an in-depth look at this subject, see chapter 5 in What Customers Want.

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Once a company knows where the market is over - and underserved and what unique opportunities exist in each outcome-based segment, it must decide which opportunities it will focus its resources and creativity on. To make this critical decision, a company must know what types of broad-market opportunities are likely to be attractive, what segment-specific targeting strategies are effective, and how to ensure that its chosen targeting strategy will place it in a unique and valued competitive position.

An effective targeting strategy directs a company to add function in areas that are underserved and reduce cost and function in areas that are overserved. Companies that do not have this market insight are more likely to focus on the opportunities they can easily address, rather than those they should address, or to focus on what they do best - even when the underlying outcomes are already well satisfied. They may also hesitate to move outside their core competency because they are uncertain that such a move will result in success. These mistakes can be avoided by adopting the correct approach to targeting.

Strategyn has developed targeting tools that maximize the creation of value. By uncovering themes comprising several related underserved outcomes, for example, companies can leverage their development and marketing efforts and devise a positioning strategy that connects solidly with customers. Other targeting strategies may be designed to address both broad-market and segment-specific opportunities, maximizing the potential for value creation across the market.

8-Step Methodology

1. Formulate Innovation Strategy

2. Capture Customer Inputs

3. Identify Broad Market Opportunities

4. Identify Segments of Opportunity

5. Target Specific Opportunities

6. Reposition Current Offerings

7. Prioritize Development Pipeline

8. Define Breakthrough Concepts