<ul><li>A pressing question for new businesses:  How long will it take for the idea to catch on? </li></ul>A puzzle:  Why ...
<ul><li>The palace of Knossos in Crete, built between 1700 and 1400 BC, had the world’s first known flushing toilet. </li>...
In contrast, radio rapidly expanded during the 1920s. The first American commercial broadcast occurred in 1920, there were...
 
<ul><li>Physical infrastructure  </li></ul><ul><li>If an innovation relies upon others laying the groundwork, a firm might...
<ul><li>Business infrastructure  </li></ul><ul><li>Groundwork can be economic as well as physical. </li></ul>
<ul><li>Few Decision Makers  </li></ul><ul><li>World War II Rear Admiral Robert Copeland once said, </li></ul><ul><li>“ To...
<ul><li>Depth of Need and Relative Performance  </li></ul><ul><li>To get noticed, a new offering has to truly excel over c...
<ul><li>Behavior Change  </li></ul><ul><li>Behavior change can be vital for new markets to emerge, and it is very difficul...
<ul><li>Speedy Sales and Use Cycle  </li></ul><ul><li>Often customers cannot be convinced by marketing materials—they need...
<ul><li>Low Switching Cost  </li></ul><ul><li>Switching costs make it more difficult for potential adopters of an innovati...
<ul><li>Low Risk of Failure  </li></ul><ul><li>Risks make potential customers want to see others adopting the innovation f...
What does the framework say about electric vehicles?  <ul><li>(Note:  Vehicle to Grid is the concept of car batteries prov...
<ul><li>New markets have powered the greatest business successes in history, from Standard Oil to Facebook.   </li></ul><u...
Capturing New Markets by Stephen Wunker
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Capturing New Markets by Stephen Wunker

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New markets can power business growth, but to win them you need the right toolkit. Drawing on dozens of industry interviews, in-the-trenches personal experience, and extensive research, this book lays out how companies can find, enter, and win in new markets--and organize themselves to tackle the mission successfully.

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Capturing New Markets by Stephen Wunker

  1.  
  2. <ul><li>A pressing question for new businesses: How long will it take for the idea to catch on? </li></ul>A puzzle: Why is it that some great ideas take forever to take root, while others flourish fast? ?
  3. <ul><li>The palace of Knossos in Crete, built between 1700 and 1400 BC, had the world’s first known flushing toilet. </li></ul><ul><li>Yet this exceptionally good idea did not take off until the middle of the nineteenth century. </li></ul>
  4. In contrast, radio rapidly expanded during the 1920s. The first American commercial broadcast occurred in 1920, there were 600 radio stations by 1922, and by 1930 60% of U.S. families owned a radio.
  5.  
  6. <ul><li>Physical infrastructure </li></ul><ul><li>If an innovation relies upon others laying the groundwork, a firm might wait a long time for change to happen. </li></ul>
  7. <ul><li>Business infrastructure </li></ul><ul><li>Groundwork can be economic as well as physical. </li></ul>
  8. <ul><li>Few Decision Makers </li></ul><ul><li>World War II Rear Admiral Robert Copeland once said, </li></ul><ul><li>“ To get something done a committee should consist of no more than three people, two of whom are absent. ” </li></ul>
  9. <ul><li>Depth of Need and Relative Performance </li></ul><ul><li>To get noticed, a new offering has to truly excel over competitors on at least some important criteria. </li></ul>
  10. <ul><li>Behavior Change </li></ul><ul><li>Behavior change can be vital for new markets to emerge, and it is very difficult to rush. </li></ul>
  11. <ul><li>Speedy Sales and Use Cycle </li></ul><ul><li>Often customers cannot be convinced by marketing materials—they need to see the innovation in action. </li></ul>
  12. <ul><li>Low Switching Cost </li></ul><ul><li>Switching costs make it more difficult for potential adopters of an innovation to sign on. </li></ul>
  13. <ul><li>Low Risk of Failure </li></ul><ul><li>Risks make potential customers want to see others adopting the innovation first, lengthening the overall penetration process. </li></ul>
  14. What does the framework say about electric vehicles? <ul><li>(Note: Vehicle to Grid is the concept of car batteries providing excess power to electric utilities during times of peak demand) </li></ul><ul><li>We should expect healthy sales for plug-in hybrids, modest adoption of all-electric vehicles mainly by a small customer segment motivated to be as green as possible, and slow roll-out of vehicle-to-grid systems. </li></ul>
  15. <ul><li>New markets have powered the greatest business successes in history, from Standard Oil to Facebook.  </li></ul><ul><li>Capturing New Markets reveals the patterns driving successful efforts to create markets, by big companies and entrepreneurs. From Roman Egypt to the iPad, it draws lessons from more than 150 examples to chart what works in new markets, and what practical steps companies can take to win. </li></ul>Capturing New Markets is available now.

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