Create a Pioneer-Migrator-Settler (PMS) map to plot your company's portfolios
- Plot your current and planned portfolios on a Pioneer-Migrator-Settler (PMS) map.
If your offerings are similar with your competitors, they should be classified as settlers. But if you think your offerings are better than your competitors, they should be placed in the "migrators" space. Finally, if your offerings provide unique value to customers through innovation, put them in the pioneers.
- Device a strategy to shift the balance of your future portfolio toward pioneers.
Pioneers are value innovation offerings, and shifting the balance of your future portfolio towards them will help to maximize the size of your blue ocean.
- Communicate the strategy.
It is important to communicate the strategy in a way that can be easily understood by any employee.
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