By Ken Rosen
Pew’s data below on the penetration of gadget ownership among U.S. adults shrieks loudly about the need to think creatively about market expansion.

Quick: Assume this data means every adult who wants a gadget has a gadget. (Not saying true, but assume it for moment.)
How would you grow the U.S. market anyway?

There are so many ways:

  • Convince people they need two devices (Tivo says every TV needs one)
  • Deliver greater value so people upgrade (iPhone 4 anyone?)
  • Tap the child and tweet market with a tailored product or configuration (LeapFrog keeps trying)
  • Converge multiple markets to obsolete these categories (My 2013 computer will be my desktop, laptop, and tablet…and my 2015 computer may be my phone too!)
  • Create a category that assumes people own gadgets (Ask Pop Cap about this one)

That just scratches the surface. The key:

You may have to take the market as it is, but you don’t have to believe standard industry-structure data actually reflects demand!

And yes, I had “To Dream the Impossible Dream” in my head when writing the title.

Takeaways

  • Dissect your beliefs about growth opportunities in your market. It’s almost a slam dunk you are ignoring some.
  • Be willing to converge, undercut…or blow up…current market structures – even if you are the leader – because your upstart competitor is happy to do so.
  • Make no mistake: Leadership, aka Sector 1 of our Performance Portfolio, is part of all our jobs. That means thinking differently about our markets.