Enterprise Strategic Analysis
Before embarking on the change an Enterprise Strategic Analysis should be carried out. The Enterprise Strategic Analysis combines the best of the Market Scan with the Strategic Analysis and looks at additional factors including innovation, knowledge and social approach.
It consists of an examination of 9 factors:
- Innovation and Creativity
- Market and Channels to Market
- Social Approach (Media and Methods)
- Structure (organisational hard and soft)
Changing customer’s needs may mean that the product service or result is now no longer required and does not suit the needs of the customer. A mismatch between the product being offered and the product which is required by the customer, will result in reducing sales and reduced market share.
The organisation’s products should meet those identified customer needs as far as possible.
There is a need for product innovation, to ensure that the product continues to meet those needs. which may evolve over time.
The next step is to look at the market or market segments being served, and how the product is positioned to reach those markets.
Customer segmentation is carried out by sales to ensure that sales activities are as efficient as possible, against each of the customer segments.