How to Display a Market Ecosystem
A company providing service or products to consumers will rely on other businesses to provide needed services, equipment and products to build a finished consumer product. The company owner will develop a market ecosystem diagram to display the values these other businesses add to his operations, like customer selection, production, purchase and product use. By developing a market ecosystem diagram, the business owner can evaluate these business partners and update by adding or changing relationships to further his company's needs and growth.
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Instructions
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Identify all partners already in your market system. Create a list of the businesses, the services offered to your company, and the established benefits. Begin the list by choosing the most influential partners to your company. Note any gaps in service, production or distribution that may need to be filled due to a business leaving your ecosystem. Businesses may leave because of poor service, procedural changes that no longer match your company's needs or the business shutting down.
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Research what other partners could possibly fill in the service or product gaps once you have developed your list. Write down the new partners and the possible connection they can have with the established cooperative businesses. Display your market ecosystem. Start by grouping new and established businesses from your list based on service. Categorize your company's operations, such as marketing, customer contact and sells, acquiring inventory, manufacturing the product and distribution to the customer.
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Place the business partners inside block diagram symbols within each category of your company's operations. Use lines to connect certain business partnerships already established from marketing your company product to distribution, and connect new partners who might develop a more efficient process. From creating this market ecosystem, you have properly outlined your company's operations, partner interaction and customer satisfaction grid.
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Choose the best market ecosystem grid that reaches your company's goals. Strengthen existing partnerships and establish connections with new partnerships. Refine your market ecosystem until it reaches your expectations.
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