Shaping future growth: A market development strategy for Mapiq

Abstract

Mapiq, the company, is the creator of the Mapiq smart building platform. Although the company is fast growing, the parties in the industry are also making considerable advances. The threat is that eventually, the growth of market share will decline and the party with the largest market share will obtain a monopoly. 
To bolster the growth of Mapiq, the options in a market development strategy are evaluated. The research first focuses on an analysis of the company, product, and industry to identify how Mapiq should compete. New market segmentation is used to create a broad scope in market research. This is done to evaluate the reach of Mapiq's product portfolio. Finally, the findings are brought together in a design, that through iteration and validation is desirable to the market.

The research points out that the product portfolio does not reach further than the service industry segment. Possibilities lie in the entry of the hospital market; the final design focuses on adapting and improving the product portfolio to fit with the context of the new market. While equally creating synergy between the current and new market.