Predicting which products and services will win in the marketplace has long been a challenge. While the ideas of failing fast and pivoting are popular, they have not led to improvements in the success rate of new product launches.
Over the past 30 years, we have studied the dynamics of product and service innovation while producing successful innovation strategies in hundreds of markets for dozens of Fortune 500 companies. Over the course of these engagements, we have developed a framework that explains what causes new product and service offerings to win or fail in the marketplace and that can be used proactively to formulate and pursue a winning growth strategy.
Our framework is built upon “jobs-to-be-done” theory, the fundamental notion that people buy products and services to help them get a job done. When we use a jobs-to-be-done lens to examine product successes and failures, we observe the same phenomenon time and time again: new products and services win in the marketplace if they help customers get a job done better and/or more cheaply.
This simple observation led to the discovery and classification of five unique growth strategies companies can adopt in the quest to win in a market. It also resulted in the creation of the jobs-to-be-done growth strategy matrix, a framework that illustrates when and how these strategies should be used.
With this framework, companies can understand their past successes and failures and can adopt a strategy to create winning products and services in the future.
Join Strategyn Founder and CEO Tony Ulwick as he will you through The Jobs-to-be-Done Growth Strategy Matrix™.