3. Market Development:

Exploitation involves improving and refining existing products and processes. This typically happens through a focus on efficiency and execution.

In contrast, the focus of exploration is on identifying new ideas and ways of doing things. This involves thing...

Category design is a business strategy in which it focuses on creating a new marketing category instead of creating a "better" product in an already existing category.

Basically, by establishing a new niche that is free of competition, your company has an excellent chance ...

This describes which market a product fits into: established market, new market, extension of an existing market, re-segmentation, etc.

Once you know the market, you know something about the competition, and you can come up with a preliminary plan for that.