Lecture

Market Opportunity Navigator: Implications and Benefits

Graph Chat

Chat with Graph Search

Ask any question about EPFL courses, lectures, exercises, research, news, etc. or try the example questions below.

DISCLAIMER: The Graph Chatbot is not programmed to provide explicit or categorical answers to your questions. Rather, it transforms your questions into API requests that are distributed across the various IT services officially administered by EPFL. Its purpose is solely to collect and recommend relevant references to content that you can explore to help you answer your questions.

Description

This lecture introduces the Market Opportunity Navigator, a tool for innovators and entrepreneurs to identify which markets to play in. The lecture covers the steps of the Navigator, the Agile Focus Strategy, strategizing under uncertainty, and the importance of re-thinking strategies over time. It emphasizes the significance of using the Navigator in conjunction with other key methods and business tools to enhance the learning process.

In MOOC

Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

As entrepreneur or innovator you are trained to run fast, but…Are you running in the right direction? Choosing the right market for your innovation is the biggest, and trickiest, question for innovators. Research has shown that all too often entrepreneurs don’t spend enough time identifying and researching their market opportunities – instead they jump at the first opportunity that looks good, and fail to properly evaluate and leverage other opportunities. This common mistake often leads them to choose the

Official source

Related concepts (29)

Market analysis

A market analysis studies the attractiveness and the dynamics of a special market within a special industry. It is part of the industry analysis and thus in turn of the global environmental analysis. Through all of these analyses the strengths, weaknesses, opportunities and threats (SWOT) of a company can be identified. Finally, with the help of a SWOT analysis, adequate business strategies of a company will be defined.

Market (economics)

In economics, a market is a composition of systems, institutions, procedures, social relations or infrastructures whereby parties engage in exchange. While parties may exchange goods and services by barter, most markets rely on sellers offering their goods or services (including labour power) to buyers in exchange for money. It can be said that a market is the process by which the prices of goods and services are established. Markets facilitate trade and enable the distribution and allocation of resources in a society.

Market research

Market research is an organized effort to gather information about target markets and customers: know about them, starting with who they are. It is an important component of business strategy and a major factor in maintaining competitiveness. Market research helps to identify and analyze the needs of the market, the market size and the competition. Its techniques encompass both qualitative techniques such as focus groups, in-depth interviews, and ethnography, as well as quantitative techniques such as customer surveys, and analysis of secondary data.

Technical analysis

In finance, technical analysis is an analysis methodology for analysing and forecasting the direction of prices through the study of past market data, primarily price and volume. As a type of active management, it stands in contradiction to much of modern portfolio theory. The efficacy of technical analysis is disputed by the efficient-market hypothesis, which states that stock market prices are essentially unpredictable, and research on whether technical analysis offers any benefit has produced mixed results.

Innovation

Innovation is the practical implementation of ideas that result in the introduction of new goods or services or improvement in offering goods or services. ISO TC 279 in the standard ISO 56000:2020 defines innovation as "a new or changed entity realizing or redistributing value". Others have different definitions; a common element in the definitions is a focus on newness, improvement, and spread of ideas or technologies.

Related lectures (64)

Market Opportunity Navigator: Implications and Benefits MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

Covers the implications and benefits of the Market Opportunity Navigator for innovators and entrepreneurs.

Market Opportunity Navigator: Practical Information MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

Introduces a tool for innovators to identify markets and addresses common questions.

Market Opportunity Set: Generating Options MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.

Emphasizes the importance of selecting options at the right level of abstraction for a consistent Market Opportunity Set.

Developing a business plan MOOC: IoT Systems and Industrial Applications with Design Thinking

Covers the essential elements of developing a business plan, emphasizing market analysis and financial projections.

Market Opportunity Navigator: Evaluate Market Opportunities MOOC: Find the right markets for your innovation - A tool for entrepreneurs and innovators for choosing which markets to play in.