How to Focus Your New Market Entry Strategy:
The 3Cs Framework

You want to enter a new and lucrative market. Between channels, products, and customers — you see so many possibilities! Use the 3Cs framework to strategically narrow the universe and focus your market entry strategy.

Company: This is often the starting point in healthcare; your company sees opportunity. Do a structured internal deep dive to inventory and prioritize: 1) Competencies and assets you can leverage; 2) Threats, assumptions, and unknowns; 3) Your non-negotiables, possible decision criteria, and success metrics.

Customer: This involves identifying unmet needs and meaningful problems customers care about and will pay to solve. Assess: 1) What customers want, value and will buy; 2) Newly emerging needs, hidden desires, and aspirations; 3) What they consider table stakes; 4) What will really delight them.

Competition: This factor focuses on finding an open niche of sufficient size. Narrow the universe by determining: 1) What obvious and lesser known needs are already met by competitors; 2) Where your offer can uniquely stand out; 3) Trends you can get out in front of.

Converge the 3Cs to reveal possible focus areas for your market entry strategy. Now you’re equipped for the next set of considerations: regulatory and reimbursement factors, technology trends, deeper dives into specific market spaces, value proposition assessment, pricing, business models, etc.

Don't let your company's hunger to enter a new market lead to rash decisions. And don’t be immobilized with too many possibilities. Use the 3Cs to bring initial focus and clarity to your market entry strategy.

Read more on how to measurably improve your products and marketing:

How to Grow Your Business with Customer-Centric Innovation "But We’ve Always Done It That Way" Zen, Zero-Based Thinking, & a Fresh Approach New Product Innovation: How to Determine the Winners

Powerful Results: Click here for real case studies that show you the results you can get.

ResearchWorks, Inc. is a company dedicated to helping companies in the business of health get measurably better marketing results. Guaranteed. Reach us on the web at www.researchworks.com or by email at info@researchworks.com.

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