Challenge send business development ideas* to 17 Portuguese
Š 2012 Teresa. All rights reserved.
within 1 single
companies
week
*This work displays a selection of all the ideas sent. For reasons of discretion, company names are not disclosed.
Structure Company Description
OPPORTUNITY: Brief market analysis. (Please note that all companies are located in Portugal; therefore the analysis refers only to this country.)
IDEA: Business development ideas proposed. These ideas are described in detail always on the following page (#1, #2). (The business development ideas consist mainly of product/service and market level suggestions.)
OBJECTIVE: Overall goal considering the current situation of the companies and the ideas suggested.
IMPORTANT: Due to the nature of this challenge this analysis was conducted solely on the basis of the information present on the website of each company. 2
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Telecom Operator
OPPORTUNITY: The competition within the Portuguese telecom market is high. The offer by different players demonstrates this, since many competitors offer similar services and products. However, there are still two segments of the Portuguese markets which haven’t been explored: - the elderly population of medium and higher income classes. - family and relations of the new wave of emigrants.
IDEA: We suggest the creation of a telecom service bundle (telephone, internet, cable/digital television and teleassistance) adapted to each one of these market segments.
OBJECTIVE: A rise in market share, with a simultaneous reinforcement of the loyalty of the existing clients through an unique offer in the market. 3
#1 Elderly Segment (bundling and optimisation of existing services) Telephone service that also offers tele-assistance service (offer of portable phone). Possibility to incorporate other ambient assisted living solutions. This proposal could be developed with the current existing partner. Inclusion of already existing services from this company, that should be available according to the individual need of the elderly: - Programmable automatically dialed number (in case no number is dialed within 10 seconds); - Portable sound amplifier for telephones; - Telephone for people with hearing impairments; - Visual alert extension for incoming calls; - Portable telephone with tele-assistance service. Cable television, with channel bundles adapted to this market segment. For clients that opt for digital television, a simple and intuitive universal remote control should be offered (only 1 remote for TV and digibox, instead of the current 2 remotes.)
Internet should be an optional service.
+ segmentation, innovation, integrated solution, value proposition
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Note: This package can also be commercialised to persons with special needs (that suffer from similar limitations like some elderly people.)
#2 Family of Emigrants Free international calls 24/7 to fixed landline numbers over VOIP.
Adapted rate plan for mobile communications to the countries where the emigrated members of the family live. Basic television channels bundle, with the possibility to add television channels from those countries where the emigrated family members live. This way, it is possible to follow the events in the country where the relatives live. Internet should be an optional service.
+ segmentation, innovation, integrated solution, value proposition
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Insurance Company
OPPORTUNITY: On the one hand, the insurance industry currently finds itself in a stage of maturity, while its services are practically considered as commodities. On the other hand, the response of this sector to the changes in the market is sometimes slow and some opportunities are not being explored.
IDEA: Creation of insurances that respond to the need of small, but significant niche markets. To follow the market cycles by offering (short and intensely promoted) products.
OBJECTIVE: To capitalise on unexplored market segments, while also expanding the client portfolio. Increase the client retention thanks to the offer of complementary services. Distinguish from the competition by having an unique value proposition.
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#1 To create an insurance tailored to emigrants. These persons find themselves divided between two countries (home country and country of destination). So, for instance, for an emigrant it can be extremely important that the car insurance is valid in both countries. A product like this makes all the more sense within the EU, given the free circulation of persons.
+ segmentation, diversification, adaptation, innovation
#2 To create a bicycle insurance. Cycling has ever more adepts amongst Portuguese families. More and more people are investing in racing bicycles or electric bicycles. Next to that, there are various cities that dispose of a bicycle rental system.
+ segmentation, diversification, adaptation
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Specialised Software Development Company
OPPORTUNITY: The current strategy of this company is to offer tailored management software solutions for niche markets (social economy, optics, textile and clothing Industry, construction and property sectors), which allow a high level of specialisation. The main challenge for this organisation is to reinforce their competitive advantage as to increase its market presence in a sustainable way.
IDEA: 1. 2. 3. 4.
Offer of a complementary service. Creation of an instrument to immediately evaluate and improve products. To invest in penetration methods for new markets. Focus on the central competences and the sustainable competitive advantages of the company.
OBJECTIVE: To enforce the current market position and the expansion towards new market niches through the offer of new solutions, complementary services and software updates. Increase the brand awareness and attract new talents and knowledge.
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#1 Creation of idea management software, that can be integrated with every management software solution.
+ product extension, integrated solution, value proposition
#2 Integration of an evaluation tool in all software solutions. This tool’s input should be sent in real time to the development team, who can introduce improvements.
+ quality, adaptation, value proposition
#3 Distribution of demo versions of management software, or the creation of freeware versions of project management software, that could be made available in ecosystems with a high entrepreneurial potential (universities, incubators, ...). This action will facilitate the penetration of new niches markets by this company.
+ positioning, awareness, corporate social responsibility
#4 Currently this software development company also builds websites. Does it make sense to invest time and resources in this area? In a highly competitive, low entry-barrier segment, this organisation should evaluate if this service contributes to its core business. If web design is a complementary service, a partnership with a web design company could be a better solution.
+ central competences, complementary services, partnership
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Retail Solutions & Franchising Company
OPPORTUNITY: This company helps retailers to develop and implement franchising strategies, as well as innovative store concepts. Retail is a market with a strong competition and it is difficult to distinguish oneself. Brands are in a constant search of new store concepts to attract clients. The virtual non-existence of a retail strategy for some cities also contributes to a constant fight between traditional commerce and shopping malls. The battle is mostly lost by the former.
IDEA: 1. 2.
Establish technological partnerships with the goal of developing new commercial concepts. A strategic expansion of the activity domain of the organisation, by developing a complementary activity.
OBJECTIVE: Increase the market share, by expanding the business to larger market segments (big retail brands) through the use of new technologies to create differentiated solutions. The entrance in complementary markets reinforces the diversification strategy of the company, possible thanks to economies of scope (based on the common and recurrent use of existing know-how and resources). This way, this company can increase its visibility as facilitators of Portugal’s retail sector. 10
#1 Innovation by developing new commercial concepts: this can be achieved by using interactive retail solutions (interactive shelves and showcases, innovative ways of product exposure, adjust advertising content to the public in real time, etc.) developed in partnership with specialised interaction technology companies (for example: Ydreams, Sketchpixel, Q-Better, etc).
The partnership should aim to develop low-cost interactive solutions that can even be applied in tradional commerces.
+ innovation, partnership, differentiation, integrated solution
#2 Expand the business activity domain through an investment in the redevelopment of commercial areas in city centres (in order to increase the attractivity of areas of traditional commerce). Various approaches are possible: Use the existing QREN funding (national development programme) to improve the commercial strategy of city centres.
Create partnerships with consultancy companies responsible for the definition of city development strategies. Establish collaboration with city halls, starting by approaching them as a first experience. These small cities will function as showrooms for the company’s value proposition.
+ diversification, partnership, innovation
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International Consumer Electronics Company (applied only to the marketing department, Portugal)
OPPORTUNITY: Consumer electronics is a true ecosystem of innovation, where new products and services are constantly being generated and new improvements are constantly being introduced (through the launch of new versions and updates). This way, there is a constant battle between companies for the title of technology leader. This battle is fervently followed by the (Portuguese) consumer, avid for new creative disruptions.
IDEA: 1. 2. 3.
Using marketing channels of third parties. Associate the company’s brand to the cultural sector, creativity and entertainment. Invest in the technological education of new generations.
OBJECTIVE: Increase the visibility of the organisation in the most relevant online distribution channels (still not controlled by the company), influencing in this way the buying decision.
Invest in new talents and their training, through the corporate social responsibility policy for the domain of education. Reinforce the image of the brand as technology leader towards their target audience.
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#1 The big retail chains (Worten, Fnac, Media Market, etc) all possess a website, where it is possible to make a first comparison between products. The websites of each of these chains could introduce the official marketing materials of the brand, for instance by introducing the official promotional videos in the space of the screens of television, tablets and mobile phones.
+ image and brand identity
#2 Create a stand-up comedy event where the comedians have to integrate a tablet or mobile phone of the company’s brand in their act. For example, the format could be a television talent hunt for new entertainment artists, where the performers have to use multimedia applications as part of their performance.
+ positioning, brand awareness, diversification
#3 Create a Lab in one or more relevant universities or higher education institutions in Portugal. Make some products available for learning and testing purposes. Offer workshops about creating apps or other specific applications.
+ positioning, brand awareness, corporate social responsibility
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Teresa Amorim