As I presented, at a past IFAI EXPO (Orlando Convention Center) business track on "Growing Your Business Through New Product Development"; While the authorities to be have announced that the recession had officially ended mid 2009, many businesses still struggle. Also consider that demographic data suggests that baby boomers have reached an age where total spending is on the verge of declining. This concept is shared by many renowned analysts, however an article by Thomas Corley on ezine articles titled "Amercas Shrinking Economy and The Demographic Shift Causing It" does a nice job of explaining it.
If your business depends on an economic recovery level prior to this recession, we may become seriously disappointed as the demographics continue to play out. The point is, this is a critical moment in time where businesses MUST plan for their future, and New Product Innovation and Development is one avenue to HEDGE the direction of the markets!
Saturday, October 8, 2011
Wednesday, June 22, 2011
Hope for Manufacturers in a Recession...
In a previous blog, I talked about 3 strategies for manufacturers to accelerate current business recovery or, to HEDGE against the effects of another decline in the event of a double-dip recession. Either way, a hedge strategy provides a better outcome for manufacturers. I spoke on this topic at a previous city wide meeting, sponsored by the Manufacturing Alliance of Philadelphia, who's membership works in collaboration with government and other agencies to resolve challenges that might harm the sector, including *job training. As promised I am providing additional research with examples of less cyclical markets, that can help a manufacturer to hedge against a slow recovery or worse.
Original strategies included;
(a) Access international market opportunities or to attract interest in US manufacturing (I've provided a link to a company that matches US interest in Latin America and conversely with interest in US Manufacturing.)
(b) Add an innovation-program for developing new products or a new production process (I will provide an overview in my next set of Blogs)
(c) Re-Balance targeted customers to include a mix of "less-cyclical" markets.
Particularly during recessionary periods, cyclical markets are what cause heavy suffering in most industrial sectors, particularly durable goods. On the other hand, Less or Non Cyclical (Non-C) Markets allow manufacturers to remain relatively healthier whether the economy is up or down.
With a little research, you may be able to uncover accounts within your customer files, who either directly or indirectly sell into Non-C markets. Subsequently, you can choose to target new prospects with similar needs, that compete or compliment each other within these same Non-C markets. And/Or, you can migrate some product production from your traditional, to Less-Cyclical markets.
An example is a Textile manufacturer that sells mainly into retail-store markets. While sales may have contracted, the home-textile market remains buoyant because textiles are used as a more cost effective form of "up-lifting" during poor economic times! Also, adding Design Services to traditional Product Manufacturing represents a revenue opportunity that many manufacturers miss - a topic that I will touch on in my next Blog.
Are these strategies relevant for small and medium size business? Absolutely! As a small business myself, I am implementing strategies in all 3 areas. and so are other smaller businesses.
These strategies also apply to businesses in the services sectors.
* The Manufacturing Alliance of Philadelphia's Job Ready Program is the first of its kind, designed specifically to close the skills gap that prevents companies from obtaining high qulaity training manufacturing employees.
Original strategies included;
(a) Access international market opportunities or to attract interest in US manufacturing (I've provided a link to a company that matches US interest in Latin America and conversely with interest in US Manufacturing.)
(b) Add an innovation-program for developing new products or a new production process (I will provide an overview in my next set of Blogs)
(c) Re-Balance targeted customers to include a mix of "less-cyclical" markets.
Particularly during recessionary periods, cyclical markets are what cause heavy suffering in most industrial sectors, particularly durable goods. On the other hand, Less or Non Cyclical (Non-C) Markets allow manufacturers to remain relatively healthier whether the economy is up or down.With a little research, you may be able to uncover accounts within your customer files, who either directly or indirectly sell into Non-C markets. Subsequently, you can choose to target new prospects with similar needs, that compete or compliment each other within these same Non-C markets. And/Or, you can migrate some product production from your traditional, to Less-Cyclical markets.
An example is a Textile manufacturer that sells mainly into retail-store markets. While sales may have contracted, the home-textile market remains buoyant because textiles are used as a more cost effective form of "up-lifting" during poor economic times! Also, adding Design Services to traditional Product Manufacturing represents a revenue opportunity that many manufacturers miss - a topic that I will touch on in my next Blog.
Are these strategies relevant for small and medium size business? Absolutely! As a small business myself, I am implementing strategies in all 3 areas. and so are other smaller businesses.
These strategies also apply to businesses in the services sectors.
* The Manufacturing Alliance of Philadelphia's Job Ready Program is the first of its kind, designed specifically to close the skills gap that prevents companies from obtaining high qulaity training manufacturing employees.
Sunday, June 5, 2011
A Strategy To Hedge Another Market Decline
As this economy pulls out of the Great Recession, business recovery will remain a challenge for a very long time. Hedge Marketing Strategy tips that I provide in this Blog are meant to help make your business more resilient in the event of a cooling off period in the economy, which can occur at almost any time. It can also accelerate growth during period of strong recovery.
This strategy is a continuation of a previous Blog on the same topic...
After analyzing, profiling and organizing your customer's purchasing behaviors into groups (or segments), you should be able to identify those that have been "more" and "less" active during the last 12 - 24 months of this recession. List your better performing customers and then describe
them by market-type or category and the reasons for their level of purchases.
You will now want to do a little Internet research about these particular markets relative to their resilience during the recession thus far. And even though some markets are beginning to return, those represented by your more active customers should standout as better performers during the recovery.
It's likely that you will have spotted 1, 2 or more resilient niche markets or segments from some hidden activity within your customer base. You are now ready do a little more research to size and value the these markets relative to your business' offering. Targeting and growing sales within these newly defined segments will allow you to create a "hedge" against either a double-dip or a cooling off period in the economy.
Please feel free to contact me with any questions what so ever.
This strategy is a continuation of a previous Blog on the same topic...
After analyzing, profiling and organizing your customer's purchasing behaviors into groups (or segments), you should be able to identify those that have been "more" and "less" active during the last 12 - 24 months of this recession. List your better performing customers and then describe
them by market-type or category and the reasons for their level of purchases.You will now want to do a little Internet research about these particular markets relative to their resilience during the recession thus far. And even though some markets are beginning to return, those represented by your more active customers should standout as better performers during the recovery.
It's likely that you will have spotted 1, 2 or more resilient niche markets or segments from some hidden activity within your customer base. You are now ready do a little more research to size and value the these markets relative to your business' offering. Targeting and growing sales within these newly defined segments will allow you to create a "hedge" against either a double-dip or a cooling off period in the economy.
Please feel free to contact me with any questions what so ever.
Thursday, May 5, 2011
Survival: Hedge Marketing - Step #1
With your existing businesses, you should have the ability to look back over recent history to analyze customer activity. If you have many customers, start by looking at general trends over the last 1, 2 and possibly 3 years. These periods of time will give you a good contrast from pre-decline to more recent times.
Look for any changes in volume, price, type of services or products purchased. As you view these general changes, begin to look at customer types, niche or segment categories of customers for purchasing behaviors that are unique within their general population. Take the time to develop a detailed profile on each unique segment. Once you have accomplished this, you are ready for the next step of a Hedge Marketing Strategy... For business start-ups, there are ways of finding the same information on markets that you intend to target.
I will provide further detail on step #2 of my Hedge Marketing Strategy in my next post. For your business to be successful, you should have the ability to analyse your customers in this way...
Look for any changes in volume, price, type of services or products purchased. As you view these general changes, begin to look at customer types, niche or segment categories of customers for purchasing behaviors that are unique within their general population. Take the time to develop a detailed profile on each unique segment. Once you have accomplished this, you are ready for the next step of a Hedge Marketing Strategy... For business start-ups, there are ways of finding the same information on markets that you intend to target.
I will provide further detail on step #2 of my Hedge Marketing Strategy in my next post. For your business to be successful, you should have the ability to analyse your customers in this way...
Monday, March 7, 2011
Philadelphia Manufacturer's Strategies for Resiliency...
NEW emphasis on adding a SERVICE to your business offering.
Three Strategies to Accelerate Business Recovery AND Hedge Another Market Decline (Summary from a previous Blog)
1. Access international markets or attract interest in YOUR U.S. based manufacturing facility.
Three Strategies to Accelerate Business Recovery AND Hedge Another Market Decline (Summary from a previous Blog)
1. Access international markets or attract interest in YOUR U.S. based manufacturing facility.
2. Add an internal New Product Development & Creative Concept program and process. (Detail in my next post!)
3. Re-Mix your business plan to include Less Cyclical markets.
Manufacturers suffer most during a recession because they mostly sell into highly cyclical markets! So, what to do?...
Migrate to customers from Less Cyclical markets! (see previous blog below for more detail) ............ See this chart for Examples.
Products to Services...
If you are a contract manufacturer and you provide engineering or design recommendations to your end-product-customer today, consider promoting this attribute as a separate paid offering! You will expand your market opportunities AND become involved earlier in your customer's buying cycle, while influencing the outcome!!!
Techniques for quickly entering new markets in my next post.
Contact me at directly for further clarification.
This topic was addressed at a recent Manufacturing Alliance of Philadelphia city-wide meeting. MAP asssists with the resolution of manufacturers challenges including, closing the skills gap that prevents companies from obtaining highly trained employees, through the first of its kind Job Ready Program.
Copyright (C) Dennis Paris 2011
Saturday, January 1, 2011
Our Services
Web Site Healing
Losing sleep over the development of your web-site design? Not sure why visitors exit your site without becoming a customer or registering for your database? Allow us to conduct a Web Site strategy assessment that identifies why your activity is may be low, why visitors are leaving without taking the action that you desire.
New Business Market Development Strategy & Launch Plan
Our strategic and marketing expertise and skills are truly holistic, with a depth not found in most marketing agencies. We collaborate very closely with our clients and provide a lot of TLC as we employ best practice methods for precisely positioning the business, products and services. During this program, our Client receives dedicated time with a Tangerine Market Strategist to quickly build a unique and precise Market Development Strategy. During an average of 4 to 6 calls, a Creative Marketing Professional may also participate. Once your market strategy is complete, the Creative Marketer takes the lead with the development of your creative tactics. This blended strategic-creative approach ensures the strongest of possible plans for your business to succeed.
New Product, Invention or Service Launch Program
We will carefully guide you through the strategic marketing process of integrating your new and existing products, along with precise, primary and secondary markets positioning. Best practice competitive mapping methods will encompass planning and tactics for sustainable growth. We will "hand-hold" you through this process and, long after your launch. Inventors of new products will benefit from years of experience with strategy development and marketing of newly invented products, utilizing best practice "Concept to Product" and "Market Positioning" techniques.
New Business Addition
Before you contact a typical marketing services agency or, a free-lance creative marketer, give us at Tangerine Strategies a shout! We will closely collaborate with you establish a unique yet synergistic and integrated marketing strategy, plan and actionable creative tactics that will elevate each of your existing and new businesses with unique value propositions, Cross Marketing Strategies (Programs & Services) and a competitive edge.
Market Recovery Strategy
We apply our experience with business turnaround, to best practice methods of research into the underlying and most critical causes of decline or stagnation. We will analyze a business' history and current challenges with revenue and growth. Short-Term marketing tactics will be identified to increase business revenue - immediately. And in parallel, a custom Business Turnaround -Market Growth Strategy and Marketing Plan will be developed. We will provide Guidance on the execution and measurement of our Client's marketing plan.
Losing sleep over the development of your web-site design? Not sure why visitors exit your site without becoming a customer or registering for your database? Allow us to conduct a Web Site strategy assessment that identifies why your activity is may be low, why visitors are leaving without taking the action that you desire.
New Business Market Development Strategy & Launch Plan
Our strategic and marketing expertise and skills are truly holistic, with a depth not found in most marketing agencies. We collaborate very closely with our clients and provide a lot of TLC as we employ best practice methods for precisely positioning the business, products and services. During this program, our Client receives dedicated time with a Tangerine Market Strategist to quickly build a unique and precise Market Development Strategy. During an average of 4 to 6 calls, a Creative Marketing Professional may also participate. Once your market strategy is complete, the Creative Marketer takes the lead with the development of your creative tactics. This blended strategic-creative approach ensures the strongest of possible plans for your business to succeed.
New Product, Invention or Service Launch Program
We will carefully guide you through the strategic marketing process of integrating your new and existing products, along with precise, primary and secondary markets positioning. Best practice competitive mapping methods will encompass planning and tactics for sustainable growth. We will "hand-hold" you through this process and, long after your launch. Inventors of new products will benefit from years of experience with strategy development and marketing of newly invented products, utilizing best practice "Concept to Product" and "Market Positioning" techniques.
New Business Addition
Before you contact a typical marketing services agency or, a free-lance creative marketer, give us at Tangerine Strategies a shout! We will closely collaborate with you establish a unique yet synergistic and integrated marketing strategy, plan and actionable creative tactics that will elevate each of your existing and new businesses with unique value propositions, Cross Marketing Strategies (Programs & Services) and a competitive edge.
Market Recovery Strategy
We apply our experience with business turnaround, to best practice methods of research into the underlying and most critical causes of decline or stagnation. We will analyze a business' history and current challenges with revenue and growth. Short-Term marketing tactics will be identified to increase business revenue - immediately. And in parallel, a custom Business Turnaround -Market Growth Strategy and Marketing Plan will be developed. We will provide Guidance on the execution and measurement of our Client's marketing plan.
When a Client expresses interest in any of Tangerine's programs, we will provide a response within 24 hours and, at a time that is most convenient, an introductory call will be scheduled to discuss objectives, issues, program call scheduling, and a working plan that is flexible with the Client's schedule.
Copyright © Dennis Paris, 2011
Friday, October 30, 2009
Direct Contact
To learn more about how Tangerine Strategies can assist with your business venture or project, please E-mail your request directly to Dennis Paris at:
mailto:dennisparis@tangerinestrategies.com
You will receive a response within 24 hours.
Thank you...
The TANGERINE Strategies Team
mailto:dennisparis@tangerinestrategies.com
You will receive a response within 24 hours.
Thank you...
The TANGERINE Strategies Team
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