Abstract Factory Blog

New Market

06 Jul 2013

When developing a product, the choice of market boils down to these three alternatives[1].

Existing

You’ve got the existing market in which shops such as restaurants are established. The rules of the game are known, customers know what to expect and plenty of resources are when looking to establish one.

Re-segmented

There is the re-segmented market. A niche market in which a specialized product within an already existing market aims to change the rules of the game, such as the iPad. The customer knew what they had before and can be told about how why they should get this instead of that.

New

Lastly there is the new market. Here, the solution to the problem is unique and in some cases people aren’t aware of ever having the problem in the first place, like with cloud computing. The main issue with this type of market is that it takes a considerable amount of time to get customer adoption. Since they went along just fine without you in the first place, you’ll have to come up with something appealing enough for them want to replace it with one or more of their currently used products, like the iPhone did with phones and the PDA.

What about Pipi?

It doesn’t fit in either one of those. Instead, the product does exist, the population knows how to use it and how beneficial it is only no one is taking the time to develop a product that is available for everyone.

Remember the Sports Almanac from Back to the Future II? Marty went to the future and got that almanac, which contained sports statistics between the 1950s and 2000. Back in the 80s, he could then use those statistics to win safe bets on any sporting event up until the new millenia. Pipi is similar to that. I’ve been to the future and not only seen the many benefits available but also applied them to my own work and now I’m back, in the real world, forwarding my experiences to you via my own design. Doing so within a market without competition and plenty of demand. For what more could I ask?
References
1. Four Steps to the Epiphany by Steven Blank