Use this template to analyze current market trends and locate opportunities to capitalize on them.
- To start, define the market trend that you will analyze on this template. After you decide on the market trend, you will work from the spaces on the left to your innovation in the final space.
- Basic Needs: What basic needs and customer desires does this market trend target? Why are these needs important to customers?
- Customer Expectations: How do the customer needs previously defined create new customer expectations? How does the defined trend satisfy the new/recurring expectations?
- Evolution: Why are you focusing on this trend now? What’s changed that brings this into focus?
- Inspiration: How are other competitors in the ecosystem incorporating this trend? Be as specific as you can.
- Innovation Potential: After reviewing the market trend, how could you directly apply this trend to your product/service?
- Who: Who does this market trend apply to? Does this apply to existing customers or are you reaching out to new markets? What needs to change to incorporate this new trend?
- Innovation: Gather the contributions from the template and formulate your own innovation to tackle the market trend!