Expanding the Scope for Value Proposition through Technology

Customize footwear used to be a luxury that was reserved for competitive athletes. However, as technology becomes more accessible, a new market emerges for companies that can harness technology to find niche markets. La New demonstrated such ability.

The visit to La New ‘s base for research and production delighted the tinker in me. The technicians paraded humming machines and beeping devices working in real time as we jostled for a good spot in wide-eyed amazement.

The range of machinery and IT capabilities allowed La New to provide services and products that the existing market cannot cater for. Technology enabled La New to create new needs for the mass consumer market and service a niche market that requires high level of customization.

Takeaway:
Creating products that create values for customers open up new customers base.

Next step:

How to transform wants to needs?