Choosing target segments in multiple emerging markets

The customer value proposition is the cornerstone of any Business Model. In the case of the creation of new activities, it is of major importance because it is the first brick in the process of developing a platform of activities. Indeed, little exists prior to it whether we are talking about acquired customers, professions, processes and organizational resources or even the choice of strategic positioning. If we consider the specific case of start-ups based on technological convergence–typical of areas such as ICT and micro and nanotechnology-the actual development of the first offer raises questions and sometimes concerns for marketing. In this chapter we focus our attention on three of them: How to choose one or several options from a multitude of potential applications ⎢ of the technology? Can marketing provide the strategic input that will be necessary to permit the definition of a space for innovation in terms of solution performance and target market segments? How can the right balance be found between the urgency of finding the first ⎢ customers and the necessity to prepare strong mid-term growth? Indeed, in order to grow, technology start-ups need to create a break in a new market while to start, they need to make less risky incremental innovations on niche markets. How can marketing enable reconcile these two requirements? Finally, to attain a high level of diffusion of an innovation, how can a position ⎢ be found that will enable the company to " disturb " incumbents in the future? How can marketing help a start-up colonizing new markets prepare itself against the phenomenon of the " Fast Second " described by Geroski and al. and avoid being eaten-up by these large so called " consolidation " companies? On these major issues, understanding the role and the contribution of the marketing function is essential. These are lessons that we will bring from the Microoled case. Microoled's smart glasses: a balance of marketing maturity and the maturity of an innovation concept