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 […]
Agile Systems Engineering as a Model of Innovation and Adaptation
“Innovation” is not limited to the context of introducing new commercial products, services, and technologies. We can learn from the study of innovation in more general settings. Human-engineered, human-kludged, and living biological or other natural systems not originated by humans are frequently under pressure to adapt. Those pressures originate in opportunities or competition, predators or […]
Focusing on Features to Achieve Product-Market Fit
Achieving ‘product-market fit’ – the alignment of the features of the product or service with the demands of a target market – is a priority for all organizations. New development efforts often pack a large number of features into the offering, increasing cost and complexity while all of the features may not provide benefit or […]
When Clarity Is Most Critical in Dealing with an Orphan
So you are experiencing the trials of dealing with a non-strategic orphan. You recognize that you need to explore your options to optimize resource utilization and customer satisfaction moving forward. You start down the list of the viable options; divest, discontinue or harvest. Because you recognize that although the product line is non-strategic to you […]
Recognizing an Orphan or Non-Strategic Product Line
Most medium to large companies have product lines that for one reason or another have become non-strategic. These “orphans” are not always recognized as such and are typically the result of both successful and unsuccessful attempts at innovation. When a company successfully innovates in one area, it is often the case that some of its […]