Successful new market entry
Market Strategy Group conducted an analysis of the public safety vertical for a telecom firm seeking entry into this new market. The study focused on understanding customer buying preferences, decision-making, product preferences, and funding processes. In addition, a competitor analysis benchmark targeting 5 companies was completed. The study's output included a detailed plan to enter this new market. Key components included:
- Developing and marketing new products and services
- Aligning the business unit to optimally meet their customer's needs
- Creating unique value proposition vis-Ã -vis the competition
- Determining the optimal sales channels to utilize
- Creating marketing support programs including interactive, input driven, customized knowledge management system
- Developing new, customized product and channel offerings focused on creating new markets, as opposed to delivering offerings to existing markets