In new product marketing, we often talk about the journey of taking new products from Innovators to Early Adopters, then (hopefully) across “the chasm” to the Early and Late Majority where we make can make the most money in the product life cycle before products die off in the hands of the Laggards.
How do we get an up-and-coming product from the hands of a select few customers in the Early Adopter Phase into a much larger market? Whereas it would seem natural to get the product into the hands of multiple markets immediately, Geoffrey Moore argues that a more focused industry approach helps to efficiently gain a firmer beachhead on the other side of the chasm.
What We Like About this Book
The philosophies follow an 80/20 approach within innovation. The argument continues to be that focus breeds efficiency and success. Not that multiple tailored products to multiple tailored customers can’t work, but what really gives the best chance of success?
In particular, the discussion on positioning is extremely relevant. What’s your claim? What’s the evidence for that claim? How will you communicate it? Then adjust based on feedback. This is much easier to do focusing on a narrower market.
Any criticisms?
The examples are often based on software. The topic is extremely relevant in broader markets, but the focus in the book is clearly in that product category.
