"Some of the most successful and disruptive innovations stem from a company’s ability to tap into demand from non-customers in its market category. The challenge, of course, is to identify why these people aren’t customers already. Once you know why potential customers aren’t buying your product, you can develop innovations to make your product more appealing to them.
Unfortunately, a focus on known customers and share of the existing market is ingrained in the processes and metrics of companies. As a result, they have less systematized data about their noncustomers. You can improve the odds on succeeding through innovation if you fix this data problem by treating non-customers as a segmentation problem and apply some of the discipline of marketing research.
The key is to segment according to reasons for not buying products in your category. In my experience, these typically fall into one of six categories:..."
Unfortunately, a focus on known customers and share of the existing market is ingrained in the processes and metrics of companies. As a result, they have less systematized data about their noncustomers. You can improve the odds on succeeding through innovation if you fix this data problem by treating non-customers as a segmentation problem and apply some of the discipline of marketing research.
The key is to segment according to reasons for not buying products in your category. In my experience, these typically fall into one of six categories:..."
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