Creating New Markets: Six Innovative Strategies

Innovation plays a pivotal role in shaping the economic fabric of nations. In particular, market-creating innovations - which create new markets by democratizing access to previously-exclusive products - have been a vital force for generating prosperity in wealthy countries, and are integral for building a prosperous future for emerging economies. The authors, from the Clayton Christensen Institute for Disruptive Innovation, argue that in order to create new markets for people who have traditionally been unable to purchase certain products due to barriers such as cost and access, organizations not only need to develop a product that meets these customers' needs, they must also develop a way to get it to them. Having researched 100 companies in 30 countries that created markets between 1706 and 2018, they share six key strategies that enable market creation.