White Space Opportunity

Services white space innovation for new product service category development.

White space opportunity. There are many different interpretations of white space. Demandfarm s whitespace analysis framework is a simple yet powerful tool to do that. Exploring the competitive landscape and identifying whitespace that your brand can own provides an opportunity to recalibrate your business focus determine what makes your offering unique and valuable to customers and strengthen your brand. Using sales analysis to identify whitespace opportunities i ve said it before and now i ll say it again the help desk is one of my favorite features of the sellingbrew playbook.

Tackling the white space challenge often requires a dual focus exploring the intersection of multiple emerging trends and defining how the. For me that little button that enables our subscribers to ask our research team questions is like a window into their world providing yet another level of. Unconventional approaches are required to uncover these high value opportunities and to convert them into attractive businesses. Identifying white space opportunities necessitates exploration into areas adjacent to but outside your traditional business boundaries.

For all its ambiguity though white space is undoubtedly a metaphor about opportunity. The blackspace encompasses all the business opportunities that a company has formally targeted and organized itself to capture. White space has been used to good effect in identifying opportunities for companies thinking of exiting existing business intel exited the dram business or ibm exiting the pc business and companies looking high growth opportunities or research in motion getting into the tablet business companies wanting to explore strategic diversification virgin extending the brand into insurance and banking. Finding the white space in your market is about identifying market opportunities in your industry that your business is capable of meeting.

The whitespace then contains all the opportunities that fall outside the scope of formal planning budgeting and management. Too often we see companies floundering in a sea of sameness failing to stand out from the pack. Different thinkers define it differently because they take varying approaches to capturing opportunity. Others believe it to be where competition doesn t exist.

How do you know where the growth is. Some companies consider it to be unchartered territory. The white space between are opportunities in the new terrain that emerges when some combination of transformative market shifts innovative technology or government policy creates massive industry.