Driving Markets: A Typology and a Seven-Step Approach
Document Type
Article
Publication Date
11-2020
Abstract
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.
Publication Information
Jaworski, Bernard J.; Kohli, Ajay K.; and Sarin, Shikhar. (2020). “Driving Markets: A Typology and a Seven-Step Approach”. Industrial Marketing Management, 91, 142-151. https://doi.org/10.1016/j.indmarman.2020.08.018