Market Development Strategy Essay

Submitted By Matt-Mitchener
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Q2. Your recommended strategy
MECE thinking is key
Make sure it has a timeline (and it’s realistic)
If you can provide numbers in the targets do (not just the measures)
Remember if the word AND is in the strategy it’s likely they have TWO strategies (this is impossible to achieve)

Strategy tree example

Session 3 – technology as a strategic enabler
Technology and innovation play a potential role in all three decision areas of the adaptive cycle
Disruptive innovation tends to happen at the intersection of market insight and technological know-how
Questions about technology and strategy
How will technology change the basis of the competition in the industry
What will it take to exceed customers’ expectations in a digital world?
Do they have capabilities required to deliver value from technology?
Leap frogging the competition’s technology is not by itself a sustainable long term strategy
Innovation can slow as technology reaches its limits
Disruptive innovation will cause a seismic shift in the market, but this can only be assesses in hindsight you can hope to disrupt the market but it isn’t true until it’s happened.
Disruptive technology is most easily implemented by ‘young’ firms (that want to be prospectors) with relatively good adaptive cycles
Session 4 – Geographic expansion
Efficiency/effectiveness becomes more difficult as you add new markets, particularly new geographies.
You must be clear about what you want to accomplish by expanding
Can be a part of the market development strategy (In Ansoff’s matrix)
Can have an impact on one or all of the decision areas (adaptive cycle)
Entrepreneurial – name change because you can’t get the name; Offering change due to market needs
Administrative – Org structure, how do regions report in?
Engineering – regulation; languages; centralised engineering all things to all people drives DOWN efficiency.
Speed: Prospector or risk taking analyser will cope with a fast strategy (See page 6, session 4)
International: Each country/region stands on its own – effectiveness prioritised over efficiency
Global: Try to go to market with a global positioning and brand

Session 5: Strategic Alliances
Get the session notes out

Strategic Frameworks - Corporate strategy & Diversification
Growth and diversification choices
Ansoff matrix
Evaluation options for growth
BCG Matrix
Ge/McKinsey Matrix
Integrating growth and diversification into corporate strategy
Pine & Gilmore
Which bits of the market are we not covering?
Can we achieve our corporate objective that we have now?
What are we exposed to? Where are we too concentrated? (e.g. environmental trends, market trends), what should we build into our plan to
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