Fill in the blank …

I want to share with you a reply email I just sent to a European company who are looking at an opportunity on the USA market…

Fill in the <blank> for your product/service/solution and see if it also applies to you…

In this client’s case, having established that the market opportunity really exists, I observed that <blank>’s market is fast growing and therefore very attractive to many other players. In turn creating an environment prone to increased competitive pressure. Sounds familiar?

The <blank> opportunity

As a starting point, let us assume that the product/service/solution is competitive in its features, advantages and user benefits… Realize this (only) provides <blank> access to the market as a player, to become successful <blank> will first have to answer two key questions…

What is <blank>’s VALUE PROPOSITION

It is crucially important for <blank> to identify its differentiators versus its competitors

  • What makes <blank> a better total solution
  • Do not only think product or service – think solution package (sales, customer support, technical support, price, marketing, supply chain,…) through the eyes of  the customer

How does <blank> ACCESS the MARKET

  • What are the market segments with the highest return (depending on the company goal this can be profit, market share, volume, revenue, …)
  • Who are we talking to – who is asking, who is buying, who is paying, who is deciding, who is setting the selection criteria, …
  • What structure needs to be developed to access these markets, what channels are needed – an importer, a distributor, a fully owned structure, …

Formulate the answers to these two questions in a crystal clear manner and will know where to aim and how to get there.

Remember, there is no point worrying about execution (sales collateral, supply chain solutions, marketing, price, promotion, websites, import regulations,…) before these have been answered.

Do not draw a blank – come prepared!

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