The Market Opportunity Navigator (MON) is a methodology in strategic management that aims to help innovators and entrepreneurs identify and select the most valuable market opportunity to pursue current and future resources and capabilities. It was added as the fourth tool[1][2][3][4] in the lean startup toolset and can be used with the Business Model Canvas developed by Alexander Osterwalder and Yves Pigneur and the Minimum Viable Product.[5][6]
MON was developed by German management researcher Marc Gruber and Israeli entrepreneurship specialist Sharon Tal[7] as a strategic framework to help firms identify and capitalize on promising market opportunities based on their studies of hundreds of startups.[8][9][10] It consists of three steps: generating the Market Opportunity Set, evaluating Market Opportunity Attractiveness, and designing the Agile Focus Strategy. Through these steps, the MON assists in understanding a firm's core abilities, assessing the attractiveness of potential market opportunities, and strategically planning for growth while remaining agile in a dynamic market environment. MON guides decision-making processes, fosters a shared language within organizations, and offers ongoing guidance for pursuing valuable market domains.
^Sadeghiani, Ayoob; Shokouhyar, Sajjad; Ahmadi, Sadra (2022-01-01). "How digital startups use competitive intelligence to pivot". Digital Business. 2 (2): 100034. doi:10.1016/j.digbus.2022.100034. ISSN 2666-9544. For example, recently Shepherd and Gruber (2021) introduced the Market Opportunity Navigator as a module of the Lean Startup which had previously been introduced for opportunity navigation and competitive positioning independent of the Lean Startup (Gruber & Tal, 2017).
^Cassens, Nathalie; FH Wedel, Wedel. "The Lean Startup – A Systematic Literature Review" (PDF). Another term introduced by Shepherd and Gruber (2021) is the "Lean Startup Framework" which adds concepts like the Market Opportunity Navigator, Business Model Canvas, Customer Development and Agile Development to the Lean Startup. So, it should be paid attention to the use of terms which are related to the Lean Startup.
^"Steve Blank How to Stop Playing "Target Market Roulette": A new addition to the Lean toolset". Steve Blank. 2019-05-07.
^Bruton, Garry D.; Pryor, Christopher; Cerecedo Lopez, Jose A. (2023-10-24). "Lean Start-Up in Settings of Impoverishment: The Implications of the Context for Theory". Journal of Management. doi:10.1177/01492063231204869. ISSN 0149-2063. The Market Opportunity Navigator is a tool in lean start-up that enables entrepreneurs to evaluate a range of potential opportunities based on the desirability and difficulty of exploitation (Gruber & Tal, 2017). Opportunities emerge from specific markets, industries, technologies, and resource providers, and entrepreneurs who target infeasible opportunities experience reduced performance or costly adaptations if they target new opportunities (Blank, 2019; Gruber, MacMillan, & Thompson, 2013). Alternatively, entrepreneurs who can uncover and evaluate a range of opportunities before dedicating resources to building a start-up might be able to mitigate uncertainty, learn about customer needs more fully and more quickly, and adjust their resource deployments more effectively (Shepherd & Gruber, 2021). Entrepreneurs can also use the Market Opportunity Navigator to evaluate the potential of opportunities they uncover during the start-up process and whether they need to make adjustments or pivots (Gruber & Tal, 2017).
^Blank, Steve; Eckhardt, Jonathan T. (2023-04-18). "The Lean Startup as an Actionable Theory of Entrepreneurship". Journal of Management: 014920632311680. doi:10.1177/01492063231168095. ISSN 0149-2063.
^Dimov, Dimo; Maula, Markku; Romme, A. Georges L. (September 2023). "Crafting and Assessing Design Science Research for Entrepreneurship". Entrepreneurship Theory and Practice. 47 (5): 1543–1567. doi:10.1177/10422587221128271. ISSN 1042-2587.
^Gruber, Marc; Tal, Sharon (2017). Where to play: 3 steps for discovering your most valuable market opportunities. Harlow London New York Boston San Francisco Toronto Sydney Dubai Singapore Hong Kong Tokyo Seoul Taipei New Delhi Cape Town São Paulo Mexico City Madrid Amsterdam Munich Paris Milan: Pearson. ISBN 978-1-292-17892-9.
^Gruber, Marc; MacMillan, Ian C.; Thompson, James D. (September 2008). "Look Before You Leap: Market Opportunity Identification in Emerging Technology Firms". Management Science. 54 (9): 1652–1665. doi:10.1287/mnsc.1080.0877. ISSN 0025-1909.
^Gruber, Marc; MacMillan, Ian C.; Thompson, James D. (February 2013). "Escaping the Prior Knowledge Corridor: What Shapes the Number and Variety of Market Opportunities Identified Before Market Entry of Technology Start-ups?". Organization Science. 24 (1): 280–300. doi:10.1287/orsc.1110.0721. ISSN 1047-7039.
^Gruber, Marc; MacMillan, Ian C.; Thompson, James D. (September 2012). "From Minds to Markets: How Human Capital Endowments Shape Market Opportunity Identification of Technology Start-Ups". Journal of Management. 38 (5): 1421–1449. doi:10.1177/0149206310386228. ISSN 0149-2063.
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