NEW MARKET ENTRY
A new market often represents a profound change to the company’s processes and its organizational structure, affecting a wide spectrum of colleagues, professionals, clients, customers and distribution partners.
A new market strategy needs to define the model that serves the market, the company’s strategy and the needs of its clients and consumers.
In our experience several aspects need to be considered: a company’s culture, short and long term goals, regional or segment adaptations, organizational structure, systems and processes are just some of the numerous factors that will affect a strategy’s deployment in terms of speed, method, governance, communication and targets.
Commitment and innovative management are as critical for success as technical aspects. Professionals across divisions will be highly impacted by the project and could feel insecure as a result, especially when there are adjustments to the organizational structure. This can impact performance, generate a negative atmosphere, create resistance to the project or lead to key professionals leaving the company. A robust implementation plan is crucial for success.
1Impacts to customers and clients require careful management. Preserving, and potentially enhancing, your relationship with customers and partners during this time of change will be critical for the success of the new model.
You may have to deal with changes across the whole distribution network. This might involve client migration across channels and sales accounts, negotiating with distributors, changes for sales representatives and many other impacts that must be planned and conducted in an extremely careful manner.
Expectations are high in a transformation of this nature. When the environment and business context carry high pressure for qualitative and quantitative results in the short term it becomes even more important to be clear on the impacts and potential results, managing expectations throughout the process. We help our clients plan the implementation, evaluate trade-offs and the level of risk, calculate financial returns and implement contingency measures in a transparent way so that conscious choices can be made.
A new market strategy needs to define the model that serves the market, the company’s strategy and the needs of its clients and consumers.