Objective 06 of 12
Expand markets
Increase the total addressable market served by the business.
- New geographic markets
- New customer segments
- New industry verticals
- Market penetration
- Who are we not serving today?
- What adjacent markets exist?
- What prevents expansion?
- International expansion
- Serving new customer types
- Entering adjacent industries
- New distribution models
Frameworks that serve this objective
Primarily Also contributes- PESTEL A scan of the macro forces — political, economic, social, technological, environmental, legal — that move beneath an industry.
- Market Segmentation Map A partition of the market into groups that buy for different reasons, with different economics.
- Ansoff Matrix A 2×2 of growth bets: existing vs. new markets, existing vs. new products.