new market creation
DESCRIPTION
Strategyn Founder & CEO, Tony Ulwick presents how companies can win in new markets using jobs-to-be-done thinking.TRANSCRIPT
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New Market Creation
How to win in new markets using jobs-to-be-done thinking
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Jobs-To-Be-Done Theory
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People buy products and services to get jobs done
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People want to get the whole job done ...
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... on a single platform
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Will pay more ... to get the job done better
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Insight into a high-profit, market entry strategy
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Define thejob-to-be-done
Discover segment
Get the whole job done
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Define thejob-to-be-done
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What job are people hiring my product for?
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Adjust the temperature
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That’s what the product does, but ...
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What job are people trying to get done?
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Product-centric Customer-centric
What job are people hiring my
product for?
What job is the customer trying
to get done?
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Adjust the temperature
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Achieve personal comfort
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Control a process
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Optimize process output
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Kill weeds
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Grow a crop
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Define the job from the customer’s perspective
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The entire job, not just part of it
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Define thejob-to-be-done
Discover segment
Get the whole job done
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Pay more to get the job done better
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Over served
Under served
Satis
fact
ion
Importance
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Does this segment exist in your market?
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Segmentation
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Traditional Segments
Vertical SizeGeography
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Satis
fact
ion
Importance
Over served
Under served
Not Vertical
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Satis
fact
ion
Importance
Over served
Under served
Not Geography
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Satis
fact
ion
Importance
Over served
Under served
Not Size
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Wrong Units
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Convenient classifications do not explain differences
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Must segment around unmet needs
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Outcome-based segmentation
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Broad MarketSa
tisfa
ction
Importance
Over served
Under served
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Factor and cluster analysis: unmet needs
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Satis
fact
ion
Importance
Over served
Under served
Market Segments
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People will pay more to get the job done better
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Willi
ngne
ss to
Pay
Low
High
No. of Job ExecutorsLow High
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Willi
ngne
ss to
Pay
Low
High
No. of Job ExecutorsLow High
Need Curve™
Currently paying to get job done
Size of market
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Willi
ngne
ss to
Pay
Low
High
Low High
Need Curve™
Increased Satisfaction
Premium market
No. of Job Executors
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People will only pay more for significant improvement
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Willi
ngne
ss to
Pay
Low
High
Customer SatisfactionLow High
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Success = Know All Unmet Needs
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Define thejob-to-be-done
Discover segment
Get the whole job done
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Get the whole job done
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Products rarely get the whole job done
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Get more of the job done
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Get it done significantly better
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Win a disproportionate share of profits
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Starve the competition of capital
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Raise the barrier to entry
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Adjust environment
Monitor conditions
Make modifications
Return room to original condition
Define comfort
Assess the room’s
comfort level
Determine what
variables to adjust
Determine what
adjustments to make
Achieve personal comfort
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Adjust environment
Monitor conditions
Make modifications
Return room to original condition
Define comfort
Assess the room’s
comfort level
Determine what
variables to adjust
Determine what
adjustments to make
Thermostat
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Adjust environment
Monitor conditions
Make modifications
Return room to original condition
Define comfort
Assess the room’s
comfort level
Determine what
variables to adjust
Determine what
adjustments to make
Nest
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7 times the price
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5%market share
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5%market share
20%profit share
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![Page 64: New Market Creation](https://reader033.vdocuments.site/reader033/viewer/2022042713/547a9e6eb4795995098b4a45/html5/thumbnails/64.jpg)
Remove dirt from carpet
Monitor dirt removal
Adjust dirt removal plan
Dispose of dirt
Determine condition of
carpet
Assess best method to remove dirt
Gather needed supplies
Set up for dirt removal
Remove dirt from carpets
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Remove dirt from carpet
Monitor dirt removal
Adjust dirt removal plan
Dispose of dirt
Determine condition of
carpet
Assess best method to remove dirt
Gather needed supplies
Set up for dirt removal
Traditional vacuum
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Remove dirt from carpet
Monitor dirt removal
Adjust dirt removal plan
Dispose of dirt
Determine condition of
carpet
Assess best method to remove dirt
Gather needed supplies
Set up for dirt removal
Dyson
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5 times the price
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24%market share
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24%market share
59%profit share
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Dozens of jobs done
Thousands of jobs done
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5 times the price
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21%market share
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21%market share
72%profit share
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Let’s reinvent the TV
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What job are customers trying to get done?
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Watch TV
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Get jobs done by viewing content
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View contentMonitor the
viewing experience
Modify content
selection
Assess experience
Determine what jobs the viewer wants to get done
Determine what content will get the
job done best
Organize the content for
viewing
Confirm viewing plan
Get jobs done
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View contentMonitor the
viewing experience
Modify content
selection
Assess experience
Determine what jobs the viewer wants to get done
Determine what content will get the
job done best
Organize the content for
viewing
Confirm viewing plan
Traditional TV
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![Page 83: New Market Creation](https://reader033.vdocuments.site/reader033/viewer/2022042713/547a9e6eb4795995098b4a45/html5/thumbnails/83.jpg)
View contentMonitor the
viewing experience
Modify content
selection
Assess experience
Determine what jobs the viewer wants to get done
Determine what content will get the
job done best
Organize the content for
viewing
Confirm viewing plan
Apple iTelevison
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5%market share
20%profit share
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Define thejob-to-be-done
Discover segment
Get the whole job done
![Page 86: New Market Creation](https://reader033.vdocuments.site/reader033/viewer/2022042713/547a9e6eb4795995098b4a45/html5/thumbnails/86.jpg)
Win big in new markets
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