Article · ~8 min read
Defining New Markets
Steve Blank · Inc. Free Intermediate
Blank separates a new market, where customers do something they could not before, from existing and resegmented markets, and shows why the sizing rules differ for each. Naming your market type tells you whether an analyst report even applies to you. Directly useful when your product created the category and there is nothing to point at.
- In a new market there are no competitors and no existing report to cite.
- Size a new market from the behavior it enables, not from a category total.
- Know your market type before you choose a sizing method.
