Market Opportunity Canvas
Built on the work by Rowan Gibson and his book the Four Lenses on Innovation, the Market Opportunity Canvas helps identify new markets, come up with new market ideas and brainstorm around new market opportunities.
Market Opportunity Canvas
Built on the work by Rowan Gibson and his book the Four Lenses on Innovation, the Market Opportunity Canvas helps identify new markets, come up with new market ideas and brainstorm around new market opportunities.
Main Outcomes
Come from Anywhere
We believe new market opportunities can come from anywhere. Use the Canvas to explore new avenues for identifying market opportunities. They can come from new technology shifts, trends, or even megatrends, arising from unmet customer needs or internal ideas.
Explore Diverse Perspectives
Bring these diverse views into your discussion (Renowned innovation expert Rowan Gibson would call these lenses. We strongly recommend his book on the topic, The Four Lenses of Innovation).
Identify and Act
Your biggest outcome should come from your ability to identify and act on the new market opportunities that emerge from your work. Don’t think of this as a successful innovation tool in itself. Think of the Canvas as a treasure map to help you search for and find new sources of revenue and massive future growth areas.
Use Case: Real Estate, Utility & Bank
A partnership, with a real estate development company, a utility, and a bank, wanted to explore how they might partner up for new business development projects. In the opening workshop, they got introduced to the Market Opportunity Canvas. It turned out to be a perfect tool for them to explore new, potential growth opportunities.
Working in mixed groups, on the wall, the three partners came up with nearly 40 new collaboration ideas that could fit within the strategic scope they had. Organizing these into five distinct themes, allowed the group visualize five major domains they had developed, but more importantly, the input was no longer owned by anyone organization as “theirs”. Instead, the group had really merged their thinking up to the point it was almost impossible to separate who had come up with what.
This laid the foundation for really strong collaboration, allowing the group to deliver a high-impact project back to management, customers, and end-users.
Problem It Solves
✓ How to find new markets
✓ How to come up with market ideas
✓ How to brainstorm around new market opportunities
✓ How to align management teams or business development teams around a handful of emerging market opportunities
Who Is It For?
✓ Consultants
✓ Corporate Staff
✓ Strategy Teams
✓ Business Development
✓ Innovation Teams
✓ Strategy Leadership
✓ Top Management
✓ Startups
✓ Scale-Ups
✓ Accelerators
✓ Incubators
Sign Up to Download the Tools
Find more canvases in the Innovation Series. Thousands of companies, consultants and leaders around the world use Strategy Tools Digital Solutions to build capabilities and deliver business impact. Join them.
Sign Up to Download the Tools
Find more canvases in the Innovation Series. Thousands of companies, consultants and leaders around the world use Strategy Tools Digital Solutions to build capabilities and deliver business impact. Join them.