Market Landscape

Understanding the broader market landscape allows you to track industry trends, identify emerging opportunities, and anticipate shifts that could impact your product’s success.

Why it's Important

Identifies macroeconomic and industry trends that may impact your product.
Helps spot market gaps and opportunities for innovation.
Ensures alignment with shifting consumer behaviors and expectations.
Guides strategic decision-making and positioning.

How to Implement

Analyze industry reports, market research publications, and economic forecasts.
Track competitor moves, funding rounds, and emerging startups in your space.
Conduct customer trend analysis using surveys and social listening tools.
Interview industry experts to gain qualitative insights.
Monitor regulatory or technological changes that could impact your market.

Available Workshops

PESTLE Analysis (Political, Economic, Social, Technological, Legal, Environmental) to evaluate external factors.
Trend Mapping Workshop to visualize emerging industry trends.
SWOT Analysis for market opportunities and threats.
Customer Trend Brainstorm to align your offering with evolving needs.
Future Scenarios Planning to predict how the market might change.
Ecosystem Mapping to analyze key players in your industry.

Deliverables

Market landscape report summarizing key trends.
SWOT analysis of industry opportunities and threats.
Competitive benchmarking report.
Key takeaways and strategic recommendations.

How to Measure

Frequency of market trend updates and adoption of insights into strategy.
Identifiable market gaps or opportunities that inform product decisions.
Number of strategic pivots or improvements based on market research.

Real-World Examples

Netflix

Identified the shift from DVD rentals to streaming and adapted early, giving it a competitive edge.

Tesla

Predicted the rise in demand for sustainable energy and electric vehicles, adjusting its market approach accordingly.

Slack

Identified the growing need for team collaboration software, capitalizing on remote work trends.

Get It Right

Regularly update market research to stay ahead of changes.
Use both qualitative and quantitative data sources.
Look at adjacent industries for potential threats and opportunities.
Engage with customers directly to validate market assumptions.
Consider global market trends, not just local ones.

Don't Make These Mistakes

Ignoring long-term trends in favor of short-term gains.
Relying solely on competitor analysis without customer input.
Dismissing disruptive innovations that could reshape your industry.
Failing to validate trends with real customer data.
Not revisiting and updating research frequently.

Provided courtesy of Catherine St Clair, Product Marketing Manager, St Clair GTM Consulting