Market Mining

FINDING GOLD IN MARKETS IS HARD…SO MINE WITH THE BEST TOOLS

A true market problem – a problem that is enough people have, and one that you can solve profitability – is a rare thing. Market problems form the foundation of marketing and lead to quality segmentation, product development, and business models.

Finding true market problems is hard. They’re often confused with customer problems, which while real, may not represent significant opportunity. They’re often not clearly identified, because teams rush to solutions instead of developing the deep understanding that leads to solving the right problem. And, they’re often confused with plain old good ideas.

Market problems are so special that we have to work hard to find them. Fortunately, using Innovation Games®, our work can be serious fun.

Our Market MiningSM approach is the right solution for your company if:

  • You need to evolve your strategy to include new market opportunities.
  • You are not finding the big, interesting problems that are worth solving.
  • You don’t have the time or resources to spend looking for new problems.

Engagement Model and Deliverables

Market Mining is a 4 step process.

  • Deep Dive. You would work with someone from the Innovation Games® team to help them understand your current thinking about strategy, markets, opportunities and the current operating context of your company.
  • Develop Research Plan. Given the above, we would create a plan that may include in-person sessions as well as the use of our on-line tools to explore markets and uncover potentially addressable market problems.
  • Execute Plan. With the above plan as a guide we would execute the plan while constantly monitoring for opportunities to adjust the plan as we go along.
  • Deliver Findings. Often our research methods produce huge volumes of information that we would organize and refine to the point where we could produce a set of well defined market problems that you could either solve or at minimum satisfice in a cost effective way.