How to Discover New Market Value with Market Mapping
And so I made five million pensions are distributed in Seoul and five million pensions end up in somebody’s file or five million radiators are made, five million radiators are sold, five million radiators are installed and five million radiators end up on a wall somewhere. Markets have to balance that. They’re like a balance sheet and what amazes me ladies and gentleman, is the how few companies actually can pass the test when you say, “Draw me a quantitative map of how your market works.”
I want to know how stuff gets from you to wherever it gets even if you stop at this point here it doesn’t matter. You got to understand how the market works and you’ve got to look at where the 80-20 rule is. In other words they are usually on the market map , 80% of the decisions are made by 20% of the junction points on there and those junction points that you do the segmentation.
But doing a market map actually takes quite a long time. All the companies I work with when they’ve done it they say, “Mark, can we learned more from doing that market map than anything else we've ever done in the history our company.” And if you look at it, isn't that a blinding leaves of the old business, how you market works, the volumes and barriers?
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