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Why do Market Feasibility Research?

"Strategy without tactics is the slowest way to victory, tactics without strategy is the noise before defeat”

Sun Tzu  - Art of War

 

You could just go out and try selling - many do and sometimes it works.  

Are you feeling lucky?

We have found that a slightly more scientific and strategic approach can significantly reduce the risks associated with taking on new markets - whether introducing new products, or penetrating new geographies, verticals or customer groups.

Our Market Feasibility Study will start by taking a good look at your capabilities and your product or service, and identify where to focus your marketing and sales effort. That could be new geographies, new products, different verticals or any combination. We provide you with all the information you need to understand the nature of the market, as well as identifying some of the risks, and will provide you with the key steps you need to take to get started.

Take our Market Readiness Self-assessment

Our free tool (we just need your e-mail and an agreement that we can communicate with you) will ask you a series of questions.  It will help you, and us, gain an initial insight into readiness to move into a new market - either with a new product or a new location - or perhaps both.

Let me know when it's available

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Prepare to Position

We carry out our market analysis through research, and we approach our research with the simple question: ‘how do I grow my business?’  

To answer that question, we need to know you.   We find out about you, your business, your current market, your capabilities, your tolerance for risk and what you have riding on this expansion.

That provides us with the context we need for making sense of the market and the ultimate positioning that we will suggest for you.  

You have to position yourself to seize opportunities while being aware of where you are vulnerable – and you have to do that while using your available resources.

 

Understanding your market is a critical first step needed to make decisions about market and innovation.  

Strategic market research underpins any successful change in market approach. The three most important things in marketing are segmentation, segmentation and segmentation.

This is particularly true when entering a new market – and a laser-like focus on a specific type of customer - with a need or desire that you can address better than anyone else - is vital.  

We don't go dissecting an entire market, and we don’t spend any effort defining dead-ends or boiling the ocean to get useless data.  We don’t hunt for information – we use our experience to hunt for ways to help you grow. Period.  

 

Identify your strengths and weaknesses both as a company and for your products and services

Highlight the opportunities and threats posed by the market conditions, suppliers, customers and competitors

Make recommendations for how to position yourself for maximum advantage with your products in your proposed market while simultaneously minimizing your risk

Our Market Feasibility Research will:

Correctly determining your POSITION is critical - you position yourself relative to your customers, your competitors, your supplies and a whole host of market conditions.  It can be the difference between dominating the market, being an also ran, or being wiped out.

We firmly believe you make your own luck

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What to Expect

Preparation

  • By the time we sign the agreement, we have probably learned quite a bit about you already.
  • We will have many up-front questions for you. Where possible, we like to visit you site, meet the key people, look at the product and the people and processes that are producing it.  We need to develop a very good feel for what you are all about.
  • We develop a keen understanding of what you are good at, what you could be good at, what you are not good at, and sometimes, what you’d like to be good at.  This includes more than just your product or service. We examine aspects such as your sales, marketing, logistics, management, culture, passions and financial abilities.

Research

  • Once we have sufficient information from you we start our research.
  • We sift the possible market segments to determine which are the likely segments that would be interested in your products or services based on the current and potential needs and desires.
  • We examine the types of solutions that are already available to them to see where gaps exist.
  • We refine the segment selection to determine if your offering can be significantly differentiated to win the business.
  • And we iterate until we find the key - we may ask you many more questions along the way.
  • As we are doing this, we are building market intelligence that will support not only where you focus but how you start to capture these new clients.  

 

Recommendations and Next Steps

  • We will deliver our findings and recommendations to you - this usually takes the form of an in-person presentation and discussion together with a draft written report. That combination means that you have all the details from our work and the opportunity to question us as we transfer our knowledge to you.  
  • Our report will provide you with all the information you need to make decisions and plans for getting your products and services into the target market.
  • Following the discussion, we will make adjustments to the report to incorporate clarifications.
  • Once you start to implement our recommendations and plan, we are also available for follow-up conversations should you require additional clarity.  We are also available to provide ongoing support under a retainer agreement

Our Market Feasibility Research comprises 3 main stages - and as next steps, we can continue to support you as you decide to dominate your new market.

Next Step

If you would like to chat informally about whether this program is for you, click here to arrange a time for us to connect.  We will respond within 24 hours.

Email us

Call us at +1-613-592-0544      or