During this module you will look at your business from the inside out. You will begin by critically analysing your companies resources and capabilities whether that means your own ( if you are a sole trader) and the resources that you use , or the capabilities of your team. We will then use Porter’s value chain to identify what resources and capabilities add value to your product or services and if you have the resources and capabilities to meet the needs of your customers and marketplace. You will critically assess the activities you conduct within your business to identify which ones add TRUE value to your product or service and which are necessary evils or just unnecessary.
Next we will turn our attention to our potential competitors in the market to identify what they offer and how our product or service compares to theirs. You will ask yourself are you in a strong or weak relative position? Do you need to make changes and rethink your positioning?
Combining the resource and capability analysis and the competitor analysis we will then look to identify what market strategy is most suitable for your business using The Ansoff Matrix.
Finally, having created a market launch plan we will then run a diagnostic test to see if the plan is Feasible, Acceptable and Suitable to ensure the plan has the best chance of success.
Additional Learning Objectives
Having created a robust market entry plan there are a couple of additional tools we feel are essential to assist in a successful market entry / business growth.
- Basic strategy testing process
- Basic negotiation skills.
We will provide some simple techniques in which to improve your plans chances of success focusing on these 2 factors.