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For years, manufacturers did not face the challenges of improving marketing and sales. Business from multi-nationals was steady. Consumer spending was strong. The worldwide economy insulated many U.S. companies from severe fluctuations in sales and revenue.
Today, foreign price competition and volatile business conditions have companies of all types re-examining their current business models. Manufacturers who once stood apart simply by being more efficient are now scrambling to fill their sales pipelines, develop new products and services, and pursue customers in entirely new markets. Differentiating from the competition, moving up the value chain, and collaborating with customers is the new recipe for success.
Market Opportunity Research (MOR)
The Process:
Step 1 – Capability Review
We conduct personal interviews with your team members to uncover your company’s strengths and opportunities for improvement. We examine your existing capabilities and products, competitive advantages, and staff expertise. We look for opportunities to re-engineer products, re-purpose capabilities and expertise, add services or re-design components. The goal is to identify assets your company can leverage to achieve profitable growth.
Step 2 – Voice of Customer Feedback
We interview your existing clients, prospects, and lost customers to identify unique selling propositions, buying patterns, product/services needs, potential expansion plans and opportunities for improvement in the buyer-seller relationship.
Step 3 – Strategic Alignment
Based on the upfront analysis, IMEC finds the alignment between your existing core competencies and marketplace demands, and recommends up to three new products, services, and markets for your company to consider pursuing.
Step 4 – External Research
We uncover market and sales trends in your sector, using proven external data sources such as trade associations, industry journals, government databases, and vertical websites. The goal is to bring the broad market picture into focus. We also use these channels to explore untapped market growth opportunities.
Step 5 – Market Pursuit Plan
We provide a written summary that outlines our conclusions, pinpointing gaps/obstacles to success, as well as a set of recommended actions for your company to take. The Market Pursuit Plan lays an excellent foundation for a strategic business plan by identifying the requirements and gaps in production, promise, people and profit for successful pursuit of the identified opportunities. |
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Business Strategy Services |