Why sell to a market that is not going to be receptive to your products or services? Why waste valuable resource trying to promote to an audience that does not value your proposition or selling effort?
Determining which market is best to consider in new product development and also your marketing strategy will be paramount to the future success of business as customers become more educated in global product or service acquisition and competition more aggressive to access markets swiftly, reaping the profits and then moving on to new opportunities.
Market dynamics, provides the framework and the insight into a market’s current state of economic performance and potential. This is then used to enable rapid decision-making and strategic application of investment against trend data that results in a dynamic profit maximising business strategy.
Strategic & Operational Target Evaluation
A comprehensive consideration of key business goals both strategic and operational in line with target market(s), providing snap shot analysis of potential capabilities to support goals and targets.
Customer Profile Definition
A complete analysis and documentation of the ‘prime A’ customer to determine their cognitive profile and stage 1 motivation. This process will provide both an in depth and snap shot analysis of the customer profile and deliver a defined customer profile framework.
Definition Of The Situation Lifecycle
Documentation of the resident country product or service lifecycle. This will be a complete assessment of product and service take-up from initial introduction through to key stage product enhancement to maintain market share or compete with equally appealing alternative competitive products.
Customer Motivation Analysis
An in depth review of a Prime A customer’s motivation towards a basket of goods and services similar to those presented by the client company, including pricing filters and they stage within the adoption lifecycle. This may be extended to create the cognitive profile of a given Prime A customer and eventually the decision-making unit.
Product & Service Benefit Definition & Audit.
A comprehensive review of your product and service stable to determine their function, features, benefits to customers and competitive differences at a substitutional as well as direct level. This will also consider the aggregation of features to business issues. This is accompanied by a documented summary of the benefits and changes that occur through the adoption of the product or service offering, an assessment of the gravity such a change has and a perception of individual value.
Product & Service Led Market Segmentation
Based upon documented terms of reference a complete market segmentation study based, locally, regionally or globally.
Target Market Gap Analysis
A comprehensive review of new target market dynamics, correlation to existing marketing accessibility, product and service saturation, level of audience understanding and motivation.
Key Market Accessibility
A comprehensive review of market options, accessibility and local/global distribution in relation to strategic and operational targets and target translation.
Market Political Status
A review of target market (s) locally, or regionally to determine influence by Government or governing bodies at a macro and micro economic level as well as influencing potential investments and profit generation opportunities for the service or product provider. This will also include an assessment of Political impacts upon forecasted growth yield.
Market Legislation market reforms
Geographical legislation mapping to determine key market restrictions and rules of engagement, assessment of business and commercial impact.
Target Market Economic Evaluation, Trends And Forecast Analysis
Documentation of target markets and regions by economic trend cycle.
Target Market Valuation (current financial status and forecasted growth level)
This will be dependent upon terms of reference and scope of the project. Development of a comprehensive economic footprint of the region or target market including trend growth as part of gross domestic product, investment cycles across the target market. This should be conducted alongside the demographic foot print.
A comprehensive study and documentation of the demographic status of the target markets across the regions determining size, universe/population, fiscal breakdown of the universe as well as a vendor specific filter e.g. employee sizes, number of potential users, number of subsidiaries etc. this should be conducted alongside the Key Account profiling and Parent Association studies.
Parent Association Study
For highly specific target markets and organisations a complete review of parental ownership to determine funding source and potential impact additional countries or regions may bring to bare upon decision making processes.
Key equity and shareholder activity
An independent study of notable equity investment and shareholder activity that may affect the target market(s).
Cross Region Situation Lifecycle Analysis
A comprehensive review based upon the pre-documented Situation Lifecycle, target market performance and positioning.
Consideration and documentation of substitutional alternatives to the product or service and how these differ across each of the regions.
Adoption & Methods
Documentation of the methods applied across the target markets (or singular regions depending upon the terms of reference and scope) to determine practices or approaches currently used and compared to the product & service benefit definition. From this a grading of value and potential ‘will to change’ is proposed.
Competition brand analysis
Development of differential statements and ‘competition breaking’ messages. This will coincide with a full evaluation of your competitions brands and their efforts to maintain or develop them further.
Competition aggression and penetration
Assessment of competition intensity, messages and brand collateral, which may form a barrier to entry.
Key Account Profiles
A study for a ‘select’ group of target key accounts. A complete business profile and where possible a cognitive profile of business buying behaviour to determine influences from parent holding Boards, and the buying process through to its completion.
Should businesses wish consider pilot programmes to determine effectiveness of initial growth, Anderson Baillie will conduct a series of pilot programmes, in-depth issue profiles and focus group assessments.
Development of Issues & Pains Matrix
For a given audience a complete and finite evaluation of specific issues and problems they have that are potentially and directly applicable to your products and services. This will assist in the development of a business issues sell not features from the very start of new market selling.
Focus group targeting and profiling
Refined evaluation of the motives behind customer purchases, why they deemed the company important and discarded alternative offerings.
Development of test bed pilot programmes
Selection of target penetration accounts for key measurement
Data Life cycle and Business Intelligence
A structured plan of data development to include new market data and business intelligence or research. All of which will support the new propositions