Are you genuinely attuned to the realities of your company's marketplace? Do you really know who your customers are? If not, why?
Your answers to the following questions can give you insight into the future of you, your company and its products. If you can't express clear, well-thought out answers to the following questions, then you should turn to Improve Systems, its Improved Profits™ Solutions and its Global Cycle Approach™ methodology to hone your market presence and ensure the future of your business.
- Market
Is my market clearly identifiable?
What is the size of my market?
How fast is my market growing?
Can my market be segmented?
What is required to succeed in my market?
How big is my market for my products?
- Customers
What types of people buy my product/service?
What methods can I use to reach my customers?
What factors do my buyers use when selecting a product/service: price, quality, delivery time, etc.
Who are my prospective customers, where are they located, and what do they want?
- Industry
Is my industry growing?
What are the current trends within my industry?
Who are the leaders within my industry, and why are they successful?
What type of marketing strategies are prevalent within my industry?
Is my industry seasonal?
Are there regulations that affect my industry?
Is there customer loyalty within my industry?
Is my industry sensitive to economic fluctuations?
Are there technological changes happening or required in my industry?
What are the financial characteristics of my industry?
- Products
What makes my product/service unique relative to others in my marketplace?
Does my product/service have limited appeal based on geography?
What do my potential or existing customers like about my competitor's products/services?
What are my current buyers paying for comparable products/services?
How does my product stack up against my competitors?
- Competition
How many competitors will I be competing against?
How do my competitors reach my market?
Are they successful? If yes, why? If no, why not?
How are my competitor's fees, operations and marketing structured?
Are my competitors making any changes?
Can my market sustain another player?
How do I get an edge on my competitors?
- Strategy
Can I market my product/service in other industries?
How do I keep up with the ever changing needs of my current customers?
How do I keep up with the changing needs of my present customers and my present and future markets?
Are my customers satisfied with my current product offerings?
- Planning
How do I decide whether to outsource?
Which subcontractor do I choose?
What is the best company to acquire to fulfill my company's growth?
What is the best product or technology to in-license to fulfill my company's growth?
