A desktop research process that enables you to take a step back from your focus on your industry or category and look at what will really be driving change in the future.
You might be thinking about where the white space for your category exists, what the disruptive forces will be and how to prepare, or who you can partner with to take the next big step.
The market scan will help you to identify and react to these big opportunities, taking your business from day-
to-day view to a far wider, strategic perspective.
Using desktop research, we identify the ebbs and flows of your changing Consumer Demands and Value Chain Dynamics to get the ‘helicopter view’ and assist you identify strategic opportunities you wouldn’t normally see.
At Spring we begin the market scan process by looking at external consumer drivers, which are either creating, maintaining or reducing demand, and thus shaping the market. We look at the nature and size of alternative target markets and the compelling propositions that will attract them.
Demograhics – Key segments of relevance, profiled and sized.
Behavioural & Psychographic – Consumer trends to assess the attractiveness of markets, segments and categories.
Customer Journey – Map the key customer journeys and their relationship with this category.
Behavioural and Psycographic
The second part of the market scan process involves looking at the external industry forces that we call the Value Chain. These forces come from businesses upstream and downstream from your business’ offer who are acquiring, investing, divesting and innovating.
Competitor positioning – Understanding the alternatives that consumers can select from and where you fit in their consideration set.
Technology Innovation – Identifying potential step-change technology in an industry.
Market Structure – Industry evolution through acquisitions, investments and maturity of offers. Identifying where it has been and where it is going.
The aim is to analyse all this information and make sense of it. By recognising the patterns or direction of the overall market we can identify 6 – 10 alternative growth strategies for your business to consider. These scenarios consider all the go-to-market factors and options and will have facts and figures to validate the opportunities.
The strategic senerios are plotted to allow for easy assessement.
Using the scales of “ability to execute” and “attractiveness” it quickly becomes obvious whichstrategic options are Organic growth, Quantum growth and Venture growth.
How the market scan will add-value to your business
We will arm you with the following outcomes:
Global situation – an understanding of the major ebbs and flows of the global value chain and indications of the major trends that may impact the current business
Growth strategies – identification of alternative growth strategies, that the current or future owners should consider undertaking.
Major transactions – consideration of alternative models for funding growth or identifying appropriate exit partners or acquisition targets.
At the end of this work we provide you with a range of opportunity spaces that will validate your existing workstreams and identify any new ones that should be considered.