You are a Hi-Tech vendor that was successful in launching product(s) and establishing its market share, but your market is slowing down, your product is commoditized, your margin is getting lower and competition is getting cheaper. Nothing new, this is the last phase in the product cycle. What do you do? Turn-around… new products,
Challenges you face
You need to identify and analyze the real need in the market, understand the prospects in your future market and identify what alternatives they have at the moment and in the future
You need to analyze thoroughly your SWOT, competences and why you will be successful and competitive
You are trying to replicate the product, marketing and sales techniques that worked with the first product to build and market the new product à this does not work
Your management, marketing and sales people and processes feel too comfortable with the old product and you will have major problems to get out of their comfort zone.. They need to be guided through the new shift
You are going for a different business model (cloud, etc.) it is not only about technology is a complete turn-around in marketing, sales and support…. Are your prepared?
Normally the problem is not the strategy but its execution, most of the new innovations are stranded because the organization feels too comfortable producing, marketing and selling the old product. You are not the only one… it is called competence trap… let us help to get over it
What we can do
We developed a turn-around and go-to-market methodology, where we help the management, identify their critical assets and competences, map them to the rising needs in the market and define new product strategy.
We do Strategy execution, through guiding the organization into building task force for a virtual spin-off to relieve the company from its comfort zone, including managing isolated task force for designing, marketing and business development of the new product.