When was the last time you reviewed the structure of your Sales Organization? How has the marketplace changed since then? Many Companies review their business strategy on a regular basis, but very few pause to look at the selling environment they are competing in and the appropriateness of their Selling Organization for this new reality.
This is the 2nd in a series of 5 Blogs that will look at how a change in your competitive landscape can impact your Route to Market.
Do you know who you are Competing against?
Without question your competitive landscape is constantly changing. Is your sales organization making the necessary adjustments to remain competitive? Think back over the last 12 to 18 months and ask yourself the following questions:
- Have any new Companies begun to offer products / services that compete with mine?
- Are the Barriers to Entry in the segments that I compete Low or High? If Low, what can I expect in the future?
- In our increasingly Global economy and with the expansion of Free Trade agreements, what new foreign competitors have entered my market?
- Are there Global leaders who are not here yet?
- How can I prepare for their inevitable arrival? Chobani, the #1 Greek style yogurt in the United States is coming to Canada, if you are in the yogurt business what have you done to prepare for this new competitor?
- Have current competitors become stronger due to an increase in resources as a result of M&A activity?
- How might they change their strategies? The acquisition of Jaguar and Land Rover by Tata Motors and their subsequent investment in New Product Development will certainly impact the competitive landscape of the Luxury car segment.
- Are competitors who you never really considered to be in your segment impacting you? We are talking about potential substitute products such as fresh In-store prepared meals vs. frozen entrees. One of the biggest threats to the large Brewers today is not just the growth of the Craft Beer segment but also the rapid growth of the Wine and Ready to Drink segments who are attracting the young male consumer who traditionally consumed only beer. How might this impact how you manage your customers?
Your competitive set is constantly changing. Is your Sales Organization proactively positioning itself for success?
Next time we will look at: Has your Product Portfolio changed?