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The implementation of the sub-markets strategy innovation takes 5 steps, which may well be considered as a traditional process of Design Thinking, with the particularity that the process begins by identifying a social kildare village problem. 5 Easy Steps to create a sub-market
1. Identify a social kildare village problem that makes sense for your company Companies kildare village are affected by social problems, and not just aspects of negative reputation that must be mitigated. But this is no reason to try to address them all. You need to identify what social problem presents a proposal to assist viable business.
Three. Innovate This is the most important and difficult step. Find a product or service that will solve the problem and generate profits. There are 3 techniques for this: "Microficar" *: use a Pareto (80/20) to identify 20% of the functions that solve the problem 80% of the Core Business: kildare village Use your core business to solve social problems. Innovation kildare village "Trickle-up" instead of bringing innovations in mature markets to social innovation, social innovation solutions to mature markets takes to increase their impact.
May. Scale Social Innovation strategies, they are still business strategies therefore should be able to be scalable to grow both profits and positive social impact. So you can have a real impact you should not only benefit a few families but an entire state or nation.
That's how Tesco was the only food retailer that has managed to penetrate the United States, and is now the third largest globally. After 20 years of research, kildare village found that Tesco exisita a business opportunity to solve the problem of "food kildare village deserts" in urban areas where despite having a high population density of low income, there are no good food options within 8 or 10 km. leaving as the only junk food or chemical option.
Tesco is opening a store a week and expanding its business by solving kildare village the power problem in a country like the United States where it is one of the biggest challenges of its system of health. Beware of traps!
The process can be simple once you have carried out several kildare village times, but has intellectual traps, which must be kept in mind when implementing a new product or service.
1. Not just "microficar": The products and services are not just repackaged submarkets with fewer features at a lower price version. It is about creating new forms of value. So you have to understand what your market considers valuable and specialized needs.
Two. These are not lower quality. kildare village The price may be low, but that does not mean that people appreciate something of poor quality. You can reduce kildare village the features, but not the quality of the value proposition.
Three. Be careful not to cannibalize sometimes necessary not bring your new product to an existing market to prevent your product cheaper eats your existing business. It serves markets that are not currently customers. The only reason to allow this is if your income is greater with a product of sub-market more profitable.
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