In Canada's leading business publication, the Ivey Business Journal, I detail five ways in which strategy for new markets can be completely different from longstanding approaches to established markets. Frequently the right growth strategies for new markets are counter-intuitive, but they makes sense in the rapidly-shifting environment of emerging industries. Much as Newtonian physics breaks down at a nano-particle level, the dynamics of new markets follow a distinct rulebook. By using the right toolkit -- still analytically rigorous, but distinct from the timeworn approaches -- business leaders can vastly improve the odds of success with critical growth ventures.
This post was written by Stephen Wunker, author of Capturing New Markets: How Smart Companies Create Opportunities Others Don't (McGraw-Hill, 2011)