Breaking new markets
Saturday, February 28, 2009 0:08
Not all the books in the world can save you from the agony of making decisions.
I have an interesting case going on. We are in the process of introducing our models to a new geographic market area. On our domestic market we are the price leader among top four suppliers. However, we can’t be the price leader on this new market area, local producers are already in vicious price war.
No, on this market we have to focus on our technology and speed. What makes this situation especially difficult is that current competitors have fantastic ability to tailor unique customer solutions. It all has to rise from retooling our marketing material and then finding right partners to promote our solutions.
Scary moment when you realize that organization has to learn something new in order to survive. Recession is not going to make it any easier, but at least we are in good position to execute this operation. Company has ample financial reserves, production technology is the very latest possible and we don’t need that market.
Do you have experience on steering your company to new direction? How did you do it? What happened to your original position of power?
