We here at Market-Driven Business certainly have a bias with the phrase “Market-Driven,” that’s for sure. To us, market-driven isn’t about doing research, it’s about using that research. Too many organizations or product people start their market-driven journey with training, but don’t do anything beyond learning the concepts. Market insights are central to the success […]
Whether you’re a Pendo fan or a certified Pragmatic Institute Product Manager, the way to discover new opportunities starts in the market and then that knowledge manifests with the creation of a product. But different companies have different approaches. Some start with the product and build from there, while others start with the market and […]
Market driven organizations have continually outperformed their peers in terms of sustained revenue growth and customer satisfaction. A cornerstone of this philosophy is understanding market facts about customers and competitors. According to George S. Day, the Geoffrey T. Boisi Professor Emeritus at the Wharton School of the University of Pennsylvania: “Rather than basing decisions solely […]
According to a study, companies that adopt a market-driven approach to innovation delivered shareholder returns of 150 percent while the S&P 500 has delivered 14 percent. Most people think that innovation is like winning the lottery – brilliant people like Steve Jobs just know that the market needs an innovation like the iPod or iTunes. […]
Why do some enterprises consistently outperform their peers? Is the water better in their office than their competitors? How do some companies leverage innovation to consistently drive growth in revenues, profits, and customer satisfaction? Is it because their leaders, like Steve Jobs at Apple, were market savants that just knew what the market really needed? […]
Customer Acquisition Cost (CAC) is the key metric in revenue generation. Simply put, it is the total marketing and sales expense associated with new customers divided by the number of new customers over a specific period of time. For example, HubSpot’s CAC was reported to be $11,977. Most companies also track the ratio of Life […]
Market Driven Strategy can be defined as consistently successful companies that start with an external market orientation and vigilantly study customer trends in order to design their strategy. They look to understand customer’s needs, problems, challenges, and issues that if solved would provide new value that the customer would be willing to pay for. Conversely, […]
