The single most important responsibility of strategic marketing is to bring products/services to market that targeted customers will want to buy.
The process to accomplish this objective starts with determining:
- What are the company’s core competencies? What is the company’s area of value add? What are possible products/services “capabilities” we could make and/or add value to and offer
- What customer industry(ies) need(s) these capabilities and why would they buy these capabilities? Have we validated this market space potential? What do we know about the customer value, go-to-market requirements and competition?
The second set of questions are equally important:
- Can we develop the capabilities? Is this a stretch for our internal or partner’s engineering, manufacturing, marketing, sales capabilities? What investments are required to bring the capabilities to market and are funds available?
- Do we already have a presence/footprint in the ideal customer industry(ies)? Do competitors exist and do they have a presence/footprint in the targeted market space? What are the competitor’s strengths and weaknesses? What are our strengths and weaknesses?
- Can we gain a presence quickly in the market space… are valued channels available to us? Do we already have a valued channel available and do they have the capacity to add the capabilities to their business model? Are there any special requirements and can the channel handle them (e.g. sales model, support model, financing model)?
Let us show how we have helped others achieve these objectives in the shortest possible time! Contact us at (720) 352-3407 or email us at StrategicPlanning@prismbusdev.com