Which Market Space Do You Operate In?
One of the things we commonly find is that businesses make the wrong or outdated assumptions about their market space so either they waste resources or don't realise their full potential.
Thousands of books have been written about markets over the last five decades, but despite this, confusion persists in how markets are described, categorised, analysed and measured. Most descriptions of markets are based on a static ‘backward-facing view’ based on historic data. While this can provide a useful starting point, the problem is that most companies today face highly dynamic markets with shifting boundaries, changing structures, new players, and new relationships between these players.
Tackling these dynamic market spaces requires a better understanding which goes beyond the approaches based on conventional market sectors based on historic data.
Market-space-centric value chains provide a powerful framework which can be used to shape propositions, map competitors, identify partners & suppliers, and understand the impact of regulation. Our experience covers a very wide range of market spaces, including the following:
Media & Telecommunications
Digital Technologies have transformed the way in which content is created, packaged, distributed and consumed. This has dramatically transformed the overall value chain with the emergence of new types of players, new products and services and a wide range of new business models, which in turn have forced the traditional players to adopt new strategies.
Electronics & Software
The boundaries between hardware and software are moving: in hardware new technologies like 5g are changing functionality and delivery business models; in software, new architectures, data structures and machine learning algorithms are enabling new products and services which were not previously feasible.
The agri-food market space is changing dramatically with new functionality and business models: these changes include new farm to fork distribution models, robotic harvesting systems, soil, weather and crop monitoring, biotech-enabled production, and alternative proteins.
Technology developments are creating new diagnostic techniques, therapies, and healthcare delivery modalities: this has the potential to significantly change cost structures and business models and deliver truly personalised healthcare.
Transport & Logistics
The transport marketplace is being transformed by new technologies, impacting all parts of the value chain, including power sources, vehicle design and configuration, infrastructures, telematics and logistics: this in turn is having a radical impact on business models.
Developments in technology, design and new functionalities are having a huge impact in all areas of engineering including automotive, aerospace, oil & gas, power, renewables, and structures & buildings. Sustainability considerations in particular have the potential to transform value chains and business models.