Creating and Dominating New Markets [Hardcover]

Meyer heads a consulting group in California that helps businesses create and dominate markets with new products. According to Meyer, "new markets are the product of someone's recognizing a potential, finding the right solution, and bringing that solution to market in a way that works." Meyer's prescription for success in new-market ventures includes detailed discussions of the risks and rewards and the necessary skills for operational managers, executives, market analysts, financial supporters, and salespeople. The particular needs and influence of the customer, changes in the economy (successful ventures can be had in any economic condition), the role of information technology, demographics, and changes in domestic and international markets are also critical. Throughout these discussions, he inserts accounts of many well-known companies that engaged in these ventures (including FedEx, AOL, Microsoft, Lucent, Motorola, and Nokia) and analyzes their successes and disappointments. This timely and thought-provoking book is a good choice for corporate, academic, and public library business collections. Steven J. Mayover, Philadelphia
Copyright 2002 Cahners Business Information, Inc.

This guide shows managers, executives, and business owners how to emulate the remarkable success of savvy market creators such as Microsoft, FedEx, and AOL. Delivers specific success strategies. Examples included.

You know how hard it is to find new markets that you can grow and dominate? This book, with real life examples from AOL, FedEx, HP, and others, is about how to do that in a systematic way.

At client requests, we studied new market success (and failure) cases among our clients and friends. This included established names such as Cisco, IBM, LEGO, AT&T, GlaxoSmithKline, Siemens, and Apple, as well as newcomers like VaxGen, Palm, Juniper, and Gauss. We pulled the common denominators for success, and looked to see if they are repeatable.

Some of the key lessons:

1 – Don't assume that a new product will build a new market. New markets come from solving problems that really perplex customers, not problems that we *wish* would perplex them.

2 – The first company to try something does always not create a market. The first to solve the problem as the *customer* sees it usually wins.

3 – Involve your customers in self tailoring your product. AOL succeeded where others failed, at least partially because they make the customer a part of the product. Customers can tailor their experience, and AOL can watch and learn from that. Don't just provide the product, let your customers adapt it.

Details are in the book, along with examples and suggestions.I think that you'll find the book to be both readable and entertaining. And I suspect that you'll really enjoy it. Let me know.

-- Peter Meyer (Peter@MeyerGrp.com)

Peter Meyer (Scotts Valley, CA) is principal of The Meyer Group, a consulting firm that helps businesses create and dominate new markets. He is the author of Warp-Speed Growth (AMACOM: 0-8144-0526-6).