MarketMaps helps product development and marketing organizations define solutions targeted at specific customer requirements offering value beyond competitive offerings.
Technological capabilities rapid advancements in information technology driven by intense competition for huge opportunities have spawned a multitude of solutions looking for a market. Development teams must chose the most cost-effective mix of attributes to build into their offering. Cost-effective from the standpoint of adding recognizable value that will capture market share.
Analysis of Competitive Offerings competition stems from similar products or services from other vendors or providers OR from alternative technological approaches. For example personal computer manufacturers compete not only with each other for potential buyers, but in some markets with an emerging group of information appliance vendors offering NetTVs, screenphones and network computers.
MarketMaps' process provides quantitative assessment of alternative technological approaches and/or competitive offerings aimed at satisfying the needs of targeted markets.
- Assess marketability of "new" technological approaches
- Appraise competitive offerings
- Evaluate competitors' market strategies
Identification of Customer Needs and Desires with the goal of developing solutions designed to recognize and take advantage of different customer preferences and needs, thereby creating additional value.
- Segment customers based on needs, preferences and desired benefits
- Identify attributes of differentiation
- Model anticipated behavior
Definition of Targeted Solutions mapping technological capabilities to customer requirements, the market environment and purchase decision processes.
- Quantify impact of variations of features and/or price
- Determine the real drivers of choice
- Understand reactions to product & service bundling