Strategy tools are used to take decisions and to simplify and visualize complex situations. They are ´intelligence boosters´ which help us to do the right things - e.g. to decide whether a particular product should be discontinued or if entering a new market makes sense or not.
Increasing price pressure is a universal phenomenon and many companies struggle to get their prices accepted by increasingly demanding buyers. An effective way to counter this trend is Value-based Pricing. The underlying logic is that if a company can convincingly demonstrate the unique value of its offering to the customer, it is in a far stronger position to charge a price that reflects this value.
Manufacturers of complex technical products often believe that Marketing is synomymous with marketing communications. This includes producing sales literature, organizing trade fairs and publishing advertisements in the specialized press. However, with this thinking, companies only leverage a tiny part of Marketing´s full potential, because Marketing is more than advertising!
In turbulent markets, a superior business strategy is the key to long-term success. Cost cutting and process optimization are necessary, but they are not sufficient for a company to remain competitive in the long term.
In a global world, International Product Management plays a key role. Products need to be adapted to the individual requirements of different markets and have to be sold locally. As intrapreneurs, product managers coordinate the international product development process and support their local partners with the introduction and marketing of new offerings.
