Host: ScaleUp 360
Location: Online - Webinar
Date: Thursday, 28th May 2020 at 10.00am - 11.30am
The materials for this event will be sent to you in advance after booking. On the day there will be a live streamed Q&A session from 10:30am
You can book using your ScaleUp 360 login details, if you have any problems please contact firstname.lastname@example.org.
Covid-19 has changed everything in the short term and is surely going to have long term implications for most of us. Working from home is a good opportunity to think how new markets might feature in your business plan now and when we emerge from ‘lockdown’.
We start by looking inward and, specifically, at your product range. To do this, we adopt the popular Boston matrix to chart existing market share and market growth for each of your products.
This suggests we should take a step back and consider your business scope: what value you create, how you do it, and who it is for you – not just now, but in the future.
It is then time to turn to the Ansoff matrix to consider the pros and cons of shipping new products and/or entering new markets. There are actually two versions of Ansoff and we go through both to have a comprehensive view of your options.
Before entering a new market, of course, it is essential to gauge demand. A fundamental concept is elasticity, which we can apply to price and income.
A more data centric approach is provided by HDDF: what has driven growth in the past and what is likely to drive it in the future? This enables us to forecast demand.
We end up by considering whether we should even try to create our own market, with an in depth look at Blue Ocean strategy.
How to use the BCG matrix to categorise your product line
Which tools help you identify your potential business scope
Why the Ansoff matrix is an essential tool to explore growth strategy
The importance of price and income elasticity of demand
How to apply HDDF to forecast demand in a new market
The merits of adopting a Blue Ocean strategy and the best way to do so.
Any entrepreneur, director, or manager who wants to enter new markets.Book Now
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