Understanding the market in which one operates is a crucial part of success of any organization.

The information types and functionality organized under the Market category seeks to help identify and share these types of insights.

Managing market insight has multiple benefits:

• It helps the organization gain a deep understanding of what their users are trying to accomplish
• It helps finding and identifying product-market fit
• It helps to identify/pin-point a target market
• It operationalizes empathy (the ability to see the world from the viewpoint of the customer/user) within the organization
• It connects the dots between what people are trying to accomplish and what the organization is offering
• It creates the foundation for an effective messaging for marketing and sales
• It helps predict which solutions are worth developing
• It improves your Go-to-market strategy
• It solifidies and improves your value propositions

In short, managing market insights helps make the go-to-market process a more predictable, transparent and continously improved process.

A study showed that once an organization agrees on

• What a need is
• What the users needs are
• What segments of users exist with unique sets of unmet needs, and
• Which needs are unmet

...the organization is is five-times more likely to create a product or service that wins in the marketplace. 

Relevance within the organization

Market insight is relevant across multiple departments of a traditional business, including:

• Research & development
• Product
• Operations
• Sales
• Marketing
• Customer success

In addition to describing the organizations publicly facing solutions, the market functionality can also be used to describe profiles and solutions that are served internally within the organization (internal market) to help gain a better understanding of how each team is set up to support other teams.

The information types are inspired by well-established methodologies like the Value Proposition Canvas and Outcome Driven Innovation.

Conceptual overview

Here's an overview of how the main market information types are conceptually associated to oneanother.

Note that profiles and solutions are not associated directly, but rather through associations between the outcomes associated with a profile and the benefits associated with a solution. This design aims to reduce the risk of assuming which solutions fit which profiles.