Market segmentation is a two-step marketing strategy that divides a broad target market into subsets of customers that have common needs, interests and priorities, and then designs and implements strategies and launch plans to target the customer segments that have been identified as desirable. Most companies recognize the value of market segmentation and analysis and […]
The Market Driven Organization: What Does It Mean and Why Does It Matter?
More often than not, organizations start out with high expectations for a successful market launch, only to find that the results fall short of goals. A seemingly innovative idea fails to attract customers and never reaches its projected sales. A product worked brilliantly in a research laboratory, but fails to reach the target market. A […]
Are There Really Just Ten Types of Innovation?
As companies are challenged to deliver growth and profitability, they are looking to the emerging field of innovation for insights to achieve these higher levels of performance. The book Ten Types of Innovation by Larry Keeley reports on years of research and identifies ten main patterns or drivers of innovation. These drivers span all aspects […]
The Magic of the Canvas
Both business and academic communities have embraced the concept of a one-page canvas as a way to conceptualize new ventures, create innovative designs, and teach entrepreneurial thinking. The popularity of the canvas approach has been sparked by Osterwalder’s Business Model Canvas (BMC) [1]. Introduced in 2010, the BMC has been widely adopted in entrepreneurship classrooms, […]
Beyond Problem Solving to Value Creation: Teaching Innovation and Entrepreneurship in an Academic Environment
As an engineering educator at Rose-Hulman where our main focus is on undergraduate education, one of our priorities is to prepare our graduates to be immediate contributors in the workplace upon graduation and to be prepared for success over their careers as technical professionals. The placement rate for Rose-Hulman approaches 100 percent each year with […]