Case Study: Competitive Strategy and Product Plan in an Emerging Market

Challenge

How to follow-up the first “hit product” with a sustainable pipeline of successful new products.

Landscape

The client had enjoyed the success of a “hit product” for almost a decade, but was faced with data communications technology nearing the end of its life cycle and an urgent need to find a new growth market. The company had made an attempt to enter a new market but found that their traditional success model was not working.

MIDIOR was engaged to help the client understand why the new product was not a success, and to develop a plan to get the product and revenues back on track. The client’s new product offering was highly functional yet press reviews were critical. Since the product was introduced to an emerging market, the competitive landscape was not easy to map. In addition, the developers and the sales and marketing groups were frustrated by the slow ramp-up in sales and the difficulty in gaining market acceptance.

Process

Over a period of six weeks, MIDIOR completed a detailed competitive analysis that included the creation of applied performance benchmarks for the client’s product and those of the competitors. A customer usability lab was established to experience first-hand how customers and the press installed and used the product. To overcome the disconnect between R & D and marketing, MIDIOR created a cross-functional team and coached team members in adopting a new communications process. The result was a consistent product vision shared throughout the organization. With a proactive understanding of the competitive landscape and the problems customers were trying to solve, the client was able to recast its technology from a position of strength, rather than being reactive to its competitors.

Impact

MIDIOR provided the client with a successful strategy to compete in an emerging market and a process that helps the client continue to identify and evaluate new opportunities for growth. By acting as a catalyst for cultural change, MIDIOR fostered an effective knowledge translation process so that the client’s product vision and execution remain consistent.