2 Strategic Planning and Change Management
The market analysis is complete. Results of the study are in and reveal that the new technology (product, process or service) under consideration will be in demand in several foreign and domestic markets. Myriad questions immediately rise to the surface.
• Will the new technology need to be adapted to meet customer needs in the new markets?
• Will economic considerations in the new market require a different pricing strategy?
• Are there political considerations to be addressed before implementing a large-scale project in the foreign market?
• Who are the competitors in the new market, and how well are they positioned to compete against your new product?
• What strategies will your company need to employ to position the new technology in the market you aim to reach?
Comprehensive strategic planning assists in answering these questions and others that arise as the planning process progresses.