Incorrect placement of "Market Space"

P 70. The concept of a 'market space' is introduced as part of the 'Develop the Offerings' conversation. The definition of market spaces (the term market segment is more commonly used by the marketing professional) is a fundamental stage of the what Service Strategy previously describes in this section as the 'Define the Market' activity. market segments are identified, target markets defined, and opportunities sized. products are positioned based upon differentiation. The service strategy book seems to be trying to rewrite Marketing 101 concepts.... for more information see Marketing Management by Philip Kotler


I think this is opinion

I think this is opinion only and does not constitute an error

Disagree with you...

It is an error is Marketing is a profession to be respected. Market spaces by their definition in Service Strategy represent sections of the market that a service provider may target with products. The definition of these 'spaces' is part and parcel of the 'define the market' activity based upon my four years or Product Marketing experience and formal training. Once a market 'space' is defined and assessed for competitive influences, it is compared with the existing product portfolio (present and planned) and the market opportunity defined. Then and only then might new or reconfigured products (services) be 'developed' - the next stage in Service Strategy...

Marketspace is more applicable

I don't think you are correct. In fact, ITIL's use of Marketspace appears to reflect post-1994 marketing frameworks.

"Marketspace" is a term that arrived with the advent of ecommerce. It reflects the shift from physically defined markets (geography, demographic) to markets based on and controlled by information. Very applicable for services.

While "Market Segment" focuses on breaking down physical categories, Market Space looks systematically across categories. Quicken competing against the pencil, or Ebay entering the auctioneering industry. Same market segments – different spaces.

Rayport and Sviokla gave the term prominence and phrased it this way: “when consumers use answering machines to leave a message, they are using an object that is both made and sold in the physical world, however when they buy electronic answering services from the phone company they are using the marketspace—a virtual realm where products and services are digital information and are delivered through information-based channels.”

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