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HI Rolf,
I would say that first it is import to know who your want to serve - knowing you market needs, you are in better position to deliver right solution; define clearly your objectives as you can’t solve all market problems, and from there, whatever you do in terms of strategy, ensure that your are pointing to your objectives; Its also important to know who is already in the market providing same services/products, to be to differentiate your products/services and add value to the customers; after all that, ensure how will you deliver your services to the market - the so called mode of entry or repositioning - according to your capabilities and the structure of the market. Finally, define how will you financially sustain your business until your generate enough cash.
Regards
Arlindo Mondlane
Independent Consultant
Hi Ralph. Is this 2 projects/questions? A market entry study is quite a different piece of work compared to a portfolio review. Are you looking for both (ie separate studies), or a single project that covers the 2 things
If you mean as Andrew asks there is a substantial difference in a market entry study compared to a portfolio revamp.
The market entry study will tell you what the conditions and pre-knowledge that exists in the market and based on that study you can review your portfolio to match the needs and understanding in the new market
Hi Andrew, Hi Hans,
I am looking for either/or. It can be 2 different studies but if you find one that covers both, that would also be great. Thanks a lot for your response.
Hi Rolf. Portfolio review and market entry are not the same as the other posts allude, although in my experience I have found that a part of portfolio review can include extending into new markets and/ or new products or services (traditional Ansof grid stuff).
I also think context is important as are objectives and industry drivers before program streams can be defined.
Example questions I have are what industry is this? Is the company an established player or a new entrant? Is this a commodity driven play, a brand play, a new segment play, an innovation play/ tech etc? How dynamic is the market? Is the existing business and operating model able to extend? How attractive is the market/ portfolio dynamics and have priorities been established? What parts of the value chain are being looked at? How is the value chain evolving? Is there a future vision and how does this translate into the entry/ portfolio strategy? Who is driving the initiative? Is there a business case agreed and has the entry strategy been shared, or does it still need to be sold internally? Budget set aside or need to be motivated for? etc
Business culture too I think. How does this influence execution? Within the company or outside?
Robert, All above answers are correct, which may vary depending ground reality. My personal opinion is that there are some common meaures for both market entry & revamp strategy, such as Analysis of:
- Existing Condition
- Market Situation
- Customer Need/Demend
- Affordability
- Financial, TCO(Capex, Opex), ROI
- Business Model
- SWOT of product/solution
- Competitors…
- Clear Road Map
- Pre/post Sales service study should also be included to check the feasibility of product/solution to be launch.
and the list goes on.
Hope this helps.
Regards,
Abbas
Telecom Consultant Wireless Networks
HI Rolf,
I would say that first it is import to know who your want to serve - knowing you market needs, you are in better position to deliver right solution; define clearly your objectives as you can’t solve all market problems, and from there, whatever you do in terms of strategy, ensure that your are pointing to your objectives; Its also important to know who is already in the market providing same services/products, to be to differentiate your products/services and add value to the customers; after all that, ensure how will you deliver your services to the market - the so called mode of entry or repositioning - according to your capabilities and the structure of the market. Finally, define how will you financially sustain your business until your generate enough cash.
Regards
Arlindo Mondlane
Independent Consultant
I agree with all partners here. And I would like to highlight some of the words mentioned by Arlindo D.
As in:
Knowing market needs
Analysis of your competitors
How do you differentiate your products/services and add value to the customers?
I would like to add, that it is important to use different strategies to ensure you can financially sustain your business until your generate enough cash.
Best Regards
Ana Paulina
Freelance Consultant for Smart Cities
Hi Rolf,
In addition to the above, streams/chapters can be used to cover:
-marketing & distribution plan
-management team (who will run the business)
-financial funding
-competitive response & exit strategy
-etc.
rgds,
Michiel
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