article thumbnail

Why You Should Be Doing Product Discovery

YoungUpstarts

Just because an idea is relevant for you, you may discover it is a super niche market and therefore will either require a dedicated marketing and promotion channel very specific to that audience or may not live up to the ‘unicorn’ expectations you were dreaming of. Create a visual representation of your product.

Product 264
article thumbnail

The Expert Guide to Creating a Marketing Growth Strategy

ConversionXL

It outlines four major growth strategies: market penetration , market development , product development , and diversification. Market development involves taking existing products into new markets. These markets will have varying levels of familiarity with your brand and products. New channels.

Marketing 115
Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

Lessons Learned: Product development leverage

Startup Lessons Learned

Lessons Learned by Eric Ries Sunday, April 26, 2009 Product development leverage Leverage has once again become a dirty word in the world of finance, and rightly so. But I want to talk about a different kind of leverage, the kind that you can get in product development. Leveraged distribution channels.

article thumbnail

Why Companies and Government Do “Innovation Theater” Instead of Actual Innovation

Steve Blank

Disruption today is more than just changes in technology, or channel, or competitors – it’s all of them, all at once. HR processes, legal processes, financial processes, acquisition and contracting processes, security processes, product development and management processes, and types of organizational forms etc.

article thumbnail

How to Use Frugal Innovation to Grow Your Startup

ReadWriteStart

As a startup, you probably don’t have much money to spend on marketing or product development. For example, you might use guerilla marketing techniques to promote your product without spending much money on traditional advertising channels. On the other hand, high-quality products require less maintenance.

Startup 198
article thumbnail

Where Does Your Software Company Go From Here?

ReadWriteStart

Creating a well-designed product that’s a hit with users takes a lot of hard work, not to mention a little strategy and luck. The creation of a hit software is an impressive feat — especially because 21.5% of startups across industries fail within their first year of business, while 30% don’t make it past their second.

Software 171
article thumbnail

Why Build, Measure, Learn – isn’t just throwing things against the wall to see if they work

Steve Blank

Waterfall Development. While it sounds simple , the Build Measure Learn approach to product development is a radical improvement over the traditional Waterfall model used throughout the 20 th century to build and ship products. Waterfall Development was all about execution of the requirements document.

Lean 120