Understand New Markets
The point of the Rapid Market AssessmentTM is to understand new markets aimed at defining a new value proposition that best fits the new market. It’s a disciplined approach for validating a market opportunity. The purpose of the assessment is to
- Evaluate the potential to renew growth in an existing or adjacent market for a
- Product enhancement
- New value proposition
- Revised business model
- Determine if a new concept has enough potential value in an existing or new market to commit resources for further development and business case evaluation
By accelerating the opportunity analyses before you invest in building your offering your business can make better decision. How you deploy resources for growth, as well as internalize a more complete knowledge of your markets, can be determined with market-based evidence. So, you can evolve your go-to-market strategy to increase market share and revenue with confidence.
What Does It Deliver?
The Rapid Market Assessment delivers
- An understanding of how the value-adding process (value chain) operates
- The drivers impacting change in the market
- Compelling value propositions
- An estimate of potential new revenue opportunities
- Resources required to develop opportunities for new sales growth faster
The Rapid Market Assessment provides a provides a recommendation to move forward with or drop the growth opportunity. It’s an initial business hypothesis and value proposition, as well as a summary of other opportunities that may have emerged from the work.