Sustaining Profitable Growth & Maximising Product Life-cycles
The innovation of new products & services with a sustainable competitive advantage (& attractive market conditions) is desirable to sustain long-term profitable growth. However, extending the life-cycle of existing products/services by incremental design improvements can sustain demand & maximise the revenue (at low risk).
Depending on the stage of your market development activities (ie: where a particular product is in relation to the generic characteristic ‘Revenue v Time Curve’ (see below), different services can be used to drive business growth:-
- Market development techniques (brand development, creative advertising, PR, Channel partners, website optimisation (SEO, PPC), sales training, and by an integrated marketing communications campaign.
- Market Insight (audit of the competitors products/services & sales tactics), market opportunity analysis & ROI (for new product/service improvements), customer satisfaction surveys (quantitative/qualitative surveys for business improvement)....read more
- Innovation & design of new products & services (incremental improvements & breakthrough ideas for new products/services (& IPR)). Customer evaluation/testing new concepts/ideas through focus-groups & surveys to confirm commercial potential...read more
Starting point:- A workshop to understand the key issues affecting your business & the potential solutions.
BDM recommends a half-day session followed by a written report outlining the potential solutions & a second meeting with the Client to critique the proposal & process steps. Contact us
Characteristic Revenue V Time Curve following New Product Introduction
Marketing Communications (Introduction & Growth Phases)
- Marketing workshops to find solutions to sales & marketing challenges
- Creative advertising to reinforce the brand-message (including website design & copy)
- PR articles in key industry publications
- Website keyword & professional copy ‘search engine optimisation’ (SEO)
- Website Pay-per-Click campaigns to attract qualified prospects to your website
- Multimedia Video CD-ROM promotion techniques for sales collaterals
Market Insight & Innovation (Growth & Maturity Phases)
- Quantitative or Qualitative market research surveys to evaluate customer reactions to existing products/services
- Market research to assess new business opportunities for products/services (ROI & market attractiveness analysis)
- Market surveys (Focus-groups) to understand customer values & desirability (influences on NPD)
Strategy development
- Marketing Strategy workshop to understand key business issues & the potential solutions.
- Strategy Development project to define a practical new business & customer marketing strategy (& product/service development plan)
- Innovation & Design workshops to identify new ideas for products/services (& IPR)
- Evaluation of new product design concepts & prototypes (customer focus groups, buyer presentations, OEMs)
- Product/service design & development solutions & optimisation
Case study: Technology Firm Singapore/UK (restricted)
To improve growth the UK/Singapore client asked BDM to identify new markets where the firm could diversify.
BDM's solution was to target firms providing automated drug-discovery equipment which utilise almost identical 3-axis pick & place technology to the client's semiconductor packaging systems.
The client's Far-East cost advantage and their ability to meet exacting quality standards offered an excellent fit with the equipment providers need to reduce costs by outsourcing...read more
To discuss your project requirement (or to request a confidential meeting) please contact us