January is a great time to start a new venture — to launch a new product, for instance, or enter a new market or geography. Several Business Talent Group clients got in touch this month for help with the first step: assessing the opportunity.
Our modular approach to consulting offers a great way to size opportunities without spending a fortune or compromising on quality… and our experienced independent consultants deliver results across multiple industries and functions.
Here are 3 of the most interesting market landscape assessments we helped with this January.
Assessing Wealth Management ProductsThe SVP at a global financial services firm wanted to jumpstart growth in the wealth management space. Looking for a clearer view of the landscape for wealth management products and solutions—and which were most compatible with its current offerings—he turned to Business Talent Group.
Our financial strategist had trained at McKinsey and headed the analytic suite at a major investment bank. Thanks to his experience, he was able to quickly and efficiently assess the size of key market sectors and the forces shaping demand and risk. He also summarized competitive dynamics and evaluated long-term growth drivers. Realizing that the client was ultimately interested in an acquisition in the space, he developed early hypotheses on potential targets, which the client is now exploring further.
Assessing the Automotive MarketA global aerospace manufacturer was looking to expand its modest presence in the automotive sector. Thanks to increased interest in electric vehicles, market demand for its technologies was growing. How best to capitalize on the opportunity?
Business Talent Group’s three-person team was led by an automotive expert with more than 25 years of strategy experience at General Motors. Supporting him were two engineers who specialized in electric vehicles.
After reviewing the client’s product lines and manufacturing capabilities, the team outlined and prioritized the automotive applications that were most promising. They highlighted the company’s strengths and weaknesses in the new market and outlined acquisition opportunities. Finally, they presented to the company’s board of directors and proceeded to the next phase of work: creating a market entry strategy.
Understanding New Healthcare BuyersA medical device manufacturer had just launched a product that dramatically cut patient recovery time—as well as recovery-related expenses. Could the company accelerate sales by working with healthcare payers and IDNs, rather than physicians?
Business Talent Group assembled a tight two-person team of healthcare experts. One was a senior consultant and previous lead of McKinsey’s life science practice. She was joined by an experienced health economist with a strong network in the payer space. Together, our team interviewed payer representatives, refined value propositions, and provided a topline estimate of the opportunity’s magnitude.
After analyzing market attractiveness and reimbursement options, the consultants concluded that profit margins were too slim for the new buyer group.
About the Author
Leah Hoffmann is a former journalist who has worked for Forbes.com and The Economist. She is passionate about clear thinking, sharp writing, and strong points of view.
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