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Validating Your Strategy with Market Opportunity Navigator

By the end of this guided project, you will able to design and analyze the three important steps that are necessary for assessing your innovation’s market opportunities. You will know how the market opportunity navigator answers one of the most difficult questions any aspiring entrepreneur or innovator must ask: “which target market should I serve”? We will use the spreadsheet to sketch the market opportunity navigator, and conduct the analysis by working through the three worksheets. You will learn how to strike the delicate balance between focusing on a primary market and keeping selected options open for backup or growth. Then you will use the model to innovate as you determine how to harness the most attractive market. We will work you through each of the process of the navigator with our startup venture as that would enable is to practically demonstrate its application. This project is for entrepreneurs and innovators who want to understand how determine the right market for their innovation. By the end of the project, you will be able to design and analyze the market opportunity navigator, and also understood why it is a strategic tool for planning, reflecting, and adjusting.

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What's inside

Syllabus

Project Overview

Good to know

Know what's good

, what to watch for

, and possible dealbreakers

Taught by Omodiaogbe Samuel, who is recognized for their work in this topic

Teaches skills, knowledge, and/or tools that are highly relevant to entrepreneurs and innovators

Provides a strong foundation for beginners in innovation

Offers a comprehensive study of one aspect of the human condition

Examines topics that are highly relevant to your interests in entrepreneurship and innovation

Taught by an established institution recognized for their work in the topic

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Activities

Be better prepared before your course. Deepen your understanding during and after it. Supplement your coursework and achieve mastery of the topics covered in Validating Your Strategy with Market Opportunity Navigator with these activities:

Explore online resources on market opportunity analysis

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Enhance understanding of market analysis techniques and frameworks through guided learning.

Browse courses on Market Opportunity

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Identify reputable websites and articles on market opportunity analysis.
Follow the tutorials, taking notes on key concepts and methodologies.

Review "The Innovator’s Dilemma" by Clayton Christensen

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Provide insights into market dynamics and the challenges faced when introducing new products and services.

View The Disruptive Innovation Set (2 Books) on Amazon

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Summarize the main takeaways from each chapter.
Read through the book, highlighting key concepts and arguments.

Form a study group to discuss the course concepts

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Enhance understanding and retention through peer-to-peer learning and knowledge sharing.

Browse courses on Collaboration

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Identify like-minded classmates who share interests and goals.
Establish regular study sessions to discuss course materials and assignments.

Six other activities

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Conduct customer interviews

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Gain hands-on experience in gathering and analyzing qualitative data to understand customer needs and preferences.

Browse courses on Market Research

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Develop a list of interview questions based on the course concepts.
Recruit potential customers for interviews.
Conduct structured interviews, taking detailed notes.

Attend an innovation workshop or seminar

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Gain exposure to industry experts and cutting-edge ideas to expand knowledge and foster innovation.

Browse courses on Innovation

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Identify and register for relevant workshops or seminars on innovation and market analysis.
Attend the event and actively participate in discussions and networking.

Create a market opportunity profile for a specific product/service idea

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Develop a comprehensive understanding of a specific market opportunity by synthesizing knowledge from the course.

Browse courses on Market Opportunity

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Select a product/service idea of interest.
Conduct research to identify the target market, their needs, and potential competitors.
Analyze the market size, growth potential, and competitive landscape.

Develop a business plan outline for your innovation idea

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Apply course concepts in a practical setting by creating a roadmap for your innovation idea.

Browse courses on Business Planning

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Define the problem or opportunity that your innovation addresses.
Identify your target market and analyze their needs.
Develop a solution and outline the execution strategy.

Participate in a market research competition

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Challenge critical thinking and data analysis skills while gaining real-world experience in market research.

Browse courses on Market Research

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Identify and register for relevant market research competitions.
Form a team and develop a research proposal.
Conduct thorough market research and analyze the data.

Offer mentorship to students pursuing similar innovation paths

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Reinforce your own learning while fostering a sense of community and support.

Browse courses on Mentorship

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Identify opportunities to mentor junior students or peers.
Share your knowledge and experience to guide others.

Career center

Learners who complete Validating Your Strategy with Market Opportunity Navigator will develop knowledge and skills that may be useful to these careers:

Market Research Analyst

Market Research Analysts study market conditions to help businesses understand their customers' needs and preferences. This course can help Market Research Analysts to better understand how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Market Research Analyst

Product Manager

Product Managers are responsible for the development and launch of new products. This course can help Product Managers to better understand how to assess the market potential of a new product. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Product Manager

Marketing Manager

Marketing Managers are responsible for developing and executing marketing campaigns. This course can help Marketing Managers to better understand how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Marketing Manager

Business Development Manager

Business Development Managers are responsible for identifying and developing new business opportunities. This course can help Business Development Managers to better understand how to assess the market potential of a new business opportunity. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Business Development Manager

Sales Manager

Sales Managers are responsible for leading and motivating sales teams. This course can help Sales Managers to better understand how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Sales Manager

Entrepreneur

Entrepreneurs are individuals who start their own businesses. This course can help Entrepreneurs to better understand how to assess the market potential of a new business idea. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Entrepreneur

Business Analyst

Business Analysts are responsible for identifying and analyzing business needs. This course can help Business Analysts to better understand how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Business Analyst

Management Consultant

Management Consultants provide advice to businesses on how to improve their operations. This course can help Management Consultants to better understand how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Management Consultant

Financial Analyst

Financial Analysts provide advice to businesses on how to make financial decisions. This course may be helpful for Financial Analysts who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Financial Analyst

Operations Manager

Operations Managers are responsible for the day-to-day operations of a business. This course may be helpful for Operations Managers who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Operations Manager

Human Resources Manager

Human Resources Managers are responsible for the management of employees. This course may be helpful for Human Resources Managers who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Human Resources Manager

Information Technology Manager

Information Technology Managers are responsible for the management of information technology systems. This course may be helpful for Information Technology Managers who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Information Technology Manager

Customer Service Manager

Customer Service Managers are responsible for the management of customer service operations. This course may be helpful for Customer Service Managers who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Customer Service Manager

Supply Chain Manager

Supply Chain Managers are responsible for the management of the supply chain. This course may be helpful for Supply Chain Managers who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Supply Chain Manager

Accountant

Accountants are responsible for the management of financial records. This course may be helpful for Accountants who want to learn more about how to identify and analyze market opportunities. The course teaches how to use the Market Opportunity Navigator, a tool that can help businesses to assess the potential of a new product or service. This tool can be used to identify the target market for a product or service, to assess the competition, and to develop a marketing strategy.

See salaries and explore the career path for Accountant

Reading list

We've selected 13 books that we think will supplement your learning. Use these to develop background knowledge, enrich your coursework, and gain a deeper understanding of the topics covered in Validating Your Strategy with Market Opportunity Navigator.

The Innovator's Dilemma, with a New Foreword

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This classic work on innovation by Clayton M. Christensen explores the challenges that large companies face when they are confronted with disruptive new technologies.

The Innovator's Dilemma, with a New Foreword: When...

Hardcover

The Innovator's Dilemma, with a New Foreword: When...

Audio CD

The Innovator's Dilemma, with a New Foreword: When...

Kindle Edition

Lean Startup: How Today's Entrepreneurs Use...

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By Eric Ries provides a practical guide to the Lean Startup methodology, which helps entrepreneurs to quickly and efficiently validate their business ideas.

The Lean Startup: How Today's Entrepreneurs Use...

Hardcover

The Lean Startup: How Today's Entrepreneurs Use...

Kindle Edition

Traction

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By Gabriel Weinberg and Justin Mares provides a practical guide to getting customers for your startup.

Validating Your Strategy with Market Opportunity Navigator

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What's inside

Syllabus

Good to know

Save this course

Activities

Career center

Reading list

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