Pushing Product-Market Boundaries by Pursuing Growth Opportunities and Creating New Markets

Abstract

In the previous chapter, I presented a market as a group of consumers who have the same problem (i.e., the same needs and wants) for which a product will provide a solution (i.e., it will satisfy those needs and wants). I cautioned against allowing perceptual maps, a representation of a product-market space, to constrict the way in which managers make strategic decisions about their organization and how it competes. I will now focus on how organizations can push product-market boundaries by creating new markets with new products.