Technology led: Technology
Market led: customer
New players have to follow Market led strategy.
Market Segmentation is very important: 3 segmentation factors:1.
Characteristics of the customer
Who is the customer?2.
How will the customer purchase and use the product/service?3.
Needs and Preferences
What are the customer
s needs and preferences?
Importance of team
Very difficult to raise funds without a team
Contribution of capital
Diversity of perspectives
Mix of functional skills
Social and psychological support
Personality: Thinking styles
Clarifies the need/pain2.
Focuses on details to identify the exact need to be fulfilled3.
Detailed analysis of problem4.
Does not rush to find a solution
Looks at the bigger picture2.
Innovative thinking to come up with workable solutions3.
May not be detailed or thorough about solution
Assemble workable solutions2.
Weighs the pros and cons of each solution3.
Plans a strategy for implementation4.
May be a perfectionist and may get stuck developing a perfect solution
Gives structures to ideas2.
Focuses on workable solutions implements solution with a
May jump to actions too quickly
Responsible for team performance2.
Is usually clear about roles and responsibilities3.
Understands team dynamics4.
Give equal energy across all thinking styles and bridges the differences
Value Chain: shows all the stages involved in making and delivering the product/service to the customer
Complementary Assets: Assets
needed to translate an innovation in to commercial returns