We categorized different markets along these dimensions toĬreate a blueprint to maneuver within a myriad of markets and maximize ROI. Top executives needed to not only understand the current market landscape and future outlook, but also prioritize which markets and geographies would be the most viable to drive profitable growth moving forward. The stagnation occurred in its government division, which consisted of state and local governments, as well as five verticals within those markets. Of doing business) associated with benefit of winning in a given market.Īn example of this process is when a Fortune 500 healthcare equipment provider came to Blue Canyon after experiencing stagnant sales over the past three years.
Measuring the market-size and the incremental available market.įeasibility analysis: Evaluate the risks (regulatory, political,Īnd macroeconomic), costs (monetary and human capital), and efforts (difficulty The size of opportunity: Determine the overall opportunity by Highest opportunity with the greatest ability to serve. Prioritization involves determining which markets offer the
Gives clarity and purpose to operational teams. The entire business spend more time and effort on the right things. Plus, it Most promising markets to allocate resources, time, and effort. Strategic prioritization helps businesses identify the Successful businesses know where to focus their efforts while being conscious of the fact that focusing on one opportunity usually means ignoring another. Business executives and managers face the same daunting questions every day: Where should I focus my business? Which customers are better than others? Which projects should I invest in to drive profitable growth? The answers to these questions form the bedrock of your business’ long-term success and future.īefore you can tackle the big picture, you first need to determine which actions should and should not be taken.