Our experience in New Business Development and Strategic Marketing has shown us the Keys to Success in creating a real driver of growth vary and are not often where Management expects. (The quotes below have been taken directly from our customers between 2010 and 2013).
The 1st key to success is the right match of Markets and Products:
- “I know the needs of the current and potential future target markets”
- “I know my family of products, their fit with the markets and their relevance to my potential R & D capabilities”
- “I know the expertise of my partners and I trust them”
- “I know my clients, and I am able to co-develop solutions with them”
The 2nd key to success is Differentiation:
- Differentiation of Products: “I have the best R & D in the field, but it is no different than my competitors”
- Differentiation of services: “I know how to listen to my clients and respond to their needs, whether it is related to Supply Chain, Technical support …”
- Differentiation of Business Model: “Michelin has created Michelin Fleet Solutions”
The 3rd key to success is Performance with speed and accuracy:
- “I still have to do laboratory tests and I will get back to you in a while.” This in practice generally means never.
- “I still have to certify my products in this country, and I will get back to you soon”
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