White Space Identification and Innovation Opportunity Development
We see a «white space» not as an external area but as an internal signpost- as a way to map your company’s ability to address new opportunities or threats.
Identifying of white space opportunities necessitates exploration into areas adjacent to but outside your traditional business boundaries. Unconventional approaches are required to uncover these high value opportunities and to convert them into attractive businesses.
In this context, white space basically means “a place where a company might have room to maneuver in a crowded playing field.”
White Space Innovation for New Product & Service Category Development
Tackling the white space challenge often requires a dual focus exploring the intersection of multiple emerging trends and defining how the convergence of two or more technologies or capabilities might satisfy powerful latent consumer and/or customer needs. Whatever the opportunity, you must continually engage in rapid learning and decision-making around new consumers, customers, partners, suppliers, competitors, business models and other emerging marketplace dynamics if you are to achieve success.
Some questions that we raise during a white space identification:
- Where are the most promising areas for new growth?
- How can we best leverage our existing competencies to create new growth opportunities within and outside our industry?
- What new competencies will we need to pursue these new white space opportunities either through in-house development or through new partnerships?
- What technological innovations will support new applications that both ride emerging trends and address unmet consumer/customer needs?
Our approach to white space identification aims to uncover hidden opportunities that lie deep inside. As a part of our process, we typically use multidisciplinar specialists, cases and experiense outside your industry to provide external perspective and insight into emerging areas of new ideas. We also support our clients in understanding of your potential consumers hidden needs, new ways to look at your business model, explore new channels and forms of work, collaboration, new ways to marketer your product or service or even new markets for our clients’ businesses.
If you want to share your ideas to us or work together, don’t hesitate to contact now: hi(a)meaccurate.com, +971 58 59O 2171