Capabilities > Strategy > Growth Strategies

Customer Success Story

Medical technology company develops new business plan to expand into new markets

Situation: Product portfolio being gradually dominated by products in mature stage of lifecycle slowing down overall growth

Approach: Leverage strong core technology to expand into high-growth-potential markets

Solution: Comprehensive business plan including market analysis, strategic fit and financial options identify highest risk/reward product development efforts

Growth Strategies

 

Confida offers a variety of data and information gathering services assembled under the heading market intelligence - these offerings include market share, competitor analyses and industry research.

It is said that the essence of business is about making decisions - from the strategic to the tactical, we face "forks in the road" on a monthly, daily and hourly basis. Some organizational leaders have mastered the art of making decisions quickly and based on what little information they have available - and many are good at making decisions under these less than ideal conditions. However, imagine, how much better the decision-making (and by inference, the business performance) could possibly be if organizations had real-time access to a fully-configurable information library.

One of the key wings of this library is market information - a knowledge base of how an organization is doing in the market (currently and trending), how its competitors are doing (currently and trending) and what the hard to foresee trends in the market are. Market share coupled with financial performance are probably the two cornerstone measures of business performance and as such need to be boringly ubiquitous in all organizations. If market share is lagging, it is important to understand critical industry performance drivers and target market leaders to appreciate how and why they have achieved their breakthrough performance and what the nature of the performance gaps between industry leaders and laggards are.

In providing these marketing services, Confida has an advantage since our consultants are uniquely versed in the entire investigation lifecycle - from collecting the data, to analyzing it and configuring it into invaluable reports - all performed by the same individual(s). We are firstly experienced in using primary data sources, if necessary, to supplement secondary research. Secondly, we use a rigorous analytical process to mine the nuggets out of market data. Finally, we use our advanced information mapping techniques to design practical gauges and thermometers encapsulating the desired market information.

During baseball season, team standings are calculated on a daily basis - the same model needs to be the guidepost for businesses. Standings should be calculated, if not daily, perhaps on a weekly or monthly basis. Yes, it is true that accurate and timely market information is not simple to assemble. Market intelligence, however, is a critical component of a balanced BI platform providing decision-makers with good reconnaissance and performance information.