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Nothing
is more critical than understanding how the value of an invention or
innovation shapes the value that exists in a market. A market is defined
as a group of consumers and producers whose interactions are driven
by a common value interest. These interactions drive supply and demand
based on the value that exists in a market at any one point in time.
While knowing the potential value of an innovation is critical, the
placement and timing of that innovation in the market is where the value
game is won or lost. In our process, we have built a “Market Map”
based on the various stages and cycles of a market. Among others, this
map provides a topology of the market to better forecast demand, assess
competition, and help hone value propositions.More importantly, from
this map, we developed an information artifact to ascertain what information
will typically be available at what stage, and the impact that this
information will have on decision making. Based on this approach, we
are able to assess the “Information Risk” associated with
a particular “Go to Market” strategy.
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