TY - JOUR
T1 - Driving Markets
T2 - A Typology and a Seven-Step Approach
AU - Jaworski, Bernard J.
AU - Kohli, Ajay K.
AU - Sarin, Shikhar
N1 - Publisher Copyright:
© 2020 Elsevier Inc.
PY - 2020/11
Y1 - 2020/11
N2 - We identify four distinct market-driving processes based on the level of the entity driving the market and the type of change being driven: The Pied Piper; the Guild; the Evangelist; and the Apostles. Following this, we describe a seven-step approach for the Pied Piper process (individual firm driving functional change). The approach builds on prior work on driving markets, and introduces the concept of staggered waves of target customers and ecosystems. In addition, it introduces the role of potential obstructers and calls for developing plans to counter them prior to implementing a market-driving effort. Briefly, the seven-step process includes: (1) articulation of a value proposition for a fairly well-defined set of customers, (2) developing a vision of the ecosystem for delivering the proposed value to target customers, (3) stress testing the value proposition, target customers and ecosystem vision against macro trends and industry forces, (4) identifying “wave 1” customers, ecosystem actors, and potential obstructers, (5) developing a give-get matrix for the “wave 1” customers and ecosystem actors, a go-to-market plan that also addresses potential obstructers, (6) implementing the “wave 1” plan with agility, (7) cascading to subsequent waves of customers, ecosystem actors, and potential obstructers.
AB - We identify four distinct market-driving processes based on the level of the entity driving the market and the type of change being driven: The Pied Piper; the Guild; the Evangelist; and the Apostles. Following this, we describe a seven-step approach for the Pied Piper process (individual firm driving functional change). The approach builds on prior work on driving markets, and introduces the concept of staggered waves of target customers and ecosystems. In addition, it introduces the role of potential obstructers and calls for developing plans to counter them prior to implementing a market-driving effort. Briefly, the seven-step process includes: (1) articulation of a value proposition for a fairly well-defined set of customers, (2) developing a vision of the ecosystem for delivering the proposed value to target customers, (3) stress testing the value proposition, target customers and ecosystem vision against macro trends and industry forces, (4) identifying “wave 1” customers, ecosystem actors, and potential obstructers, (5) developing a give-get matrix for the “wave 1” customers and ecosystem actors, a go-to-market plan that also addresses potential obstructers, (6) implementing the “wave 1” plan with agility, (7) cascading to subsequent waves of customers, ecosystem actors, and potential obstructers.
KW - Driving markets
KW - Innovation marketing
KW - market orientation
KW - Market-driving strategy
UR - http://www.scopus.com/inward/record.url?scp=85090358177&partnerID=8YFLogxK
UR - https://scholarworks.boisestate.edu/marketing_facpubs/72
U2 - 10.1016/j.indmarman.2020.08.018
DO - 10.1016/j.indmarman.2020.08.018
M3 - Article
SN - 0019-8501
VL - 91
SP - 142
EP - 151
JO - Industrial Marketing Management
JF - Industrial Marketing Management
ER -