How to Generate More Income with 4 Different Time-Tested

9PM | SATURDAY, 18TH APRIL 2021

How to Generate More Income with4 Different Time-Tested Strategies

EXIS

TIN

G M

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KET

NEW

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EXISTING SOLUTIONS NEW SOLUTIONS

MARKETPENETRATION

MARKETDEVELOPMENT

SOLUTIONDEVELOPMENT

DIVERSIFICATION

Credit: H. Igor Ansoff, Harvard Business Review ,1957

RISK

©2021 Authority Institute c/o Authority Advisory Sdn Bhd

MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

NEW MARKET. NEW SOLUTIONS.• Related Diversification

Phone manufacturer going into app development

• Unrelated DiversificationPhone manufacturer going into F&B distribution

• Upstream Integration with suppliersPhone manufacturer starting a chipset manufacturing factory

• Downstream integrations with intermediaries/distributorsPhone manufacturer acquiring companies with distribution networks


MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

NEW MARKET. OLD SOLUTIONS.• Cater to new market segment

• Expand to different locations

• Acquire a company that is dominating a different market segment

• CAGE Distance FrameworkCultural, Administrative, Geographic, Economic Difference.

• PESTLE AnalysisExternal factors in Political, Economic, Social, Technological, Legal and Environmental.


MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

OLD MARKET. NEW SOLUTIONS.• Invest in R&D to develop related, adjacent or

complimentary solutions

• Improve your product (lowering price)

• Improve your service (shortening fulfilment time)

• Repackage existing products

• Chunking sidewaysPringles and their many flavors

• Partnering with others to expand your offerings

• Acquiring another company that provides complimentary solutions to your current offerings


MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

OLD MARKET. OLD SOLUTIONS.• LAST RESORT! Decreasing price

• Bundling/repackaging

• Increase promotion (over different channels)

• Acquire a competitor in the same marketplace

• Expand marketing & sales channels

• Improve distribution channels

• Create loyalty schemes (member-get-member, Buy 10 Free 1)


MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

OLD MARKET. OLD SOLUTIONS.• Increase sales force activity

• Improve sales converters

• Increase operation hours

• Increase capacity

• Improve customer service

• Use Boston Matrix to classify your solutionsMarket Growth Rate vs Relative Market Share. Dogs, Cash Cows, Question Marks, Stars

Cont.


PRIORITISE YOUR SOLUTIONSLO

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GR

OW

TH R

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HIG

H M

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GR

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TH R

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LOW RELATIVE MARKET SHARE HIGH RELATIVE MARKET SHARECredit: Boston Consulting Group

DOGS

QUESTIONMARKS STARS

CASH COWS


MARKETDEVELOPMENT

DIVERSIFICATION

SOLUTIONDEVELOPMENT

MARKETPENETRATION

OLD MARKET. OLD SOLUTIONS.• Increase sales force activity

• Improve sales converters

• Increase operation hours

• Increase capacity

• Improve customer service

• Use Boston Matrix to classify your solutionsMarket Growth Rate vs Relative Market Share. Dogs, Cash Cows, Question Marks, Stars

• Become A Market Leader

Cont.


BECOME AMARKET LEADERSTAND OUT. STAY FRESH. SELL MORE.


MARKET LEADERGAME PLAN

At the end of this 60-Minute Implementation Webinar,You Will Walk Home with the Blueprint toBecome The Authority Of Your Industry.

REGISTER NOW | HTTPS://AUTHORITY.INSTITUTE/MLGP

2021

This Online Training is Normally Priced at USD99 per ticket. As part of an economic recovery initiative forsolopreneurs and small business owners, for a limited time, it will be FREE. Sign Up While Seats Are Still Available.

TOP 10UNFAIR ADVANTAGES OF A MARKET LEADER

YOU WILL HAVE A BRAND NAME IN YOUR MARKETPLACE.

1

You are seen, heard and known among your peers, industry partners and most importantly, your target audiences. For some lucky ones, and somewhere most market leaders will eventually reach, is to become a household name.



YOU WILL HAVE A COMMUNITY OF FANS AND FOLLOWERS.

2

Your social media posts are liked, commented on and shared. Your emails are opened and responded to. You have advocates that support you in your current and future endeavors, and they want to be part of the vision.



YOU WILL HAVE GREAT MARKETACCESS & CHANNELS.

3

”Doors” closed to others are opened to you. You have first choice when it comes to picking your Most Profitable Markets. Partnerships come easy and you are always just a few phone calls away from making things happen.



YOU WILL BE ABLE TO COMMAND A PREMIUM PRICE.

4

While your competitors are participating in “price wars”, lowering their prices in order to win more customers, youmanage to hold yours. In the eyes of your Most Profitable Markets, they don’t see the figures; they see value.



YOU WILL STAY TOP-ON-MIND IN THE EYES OF YOUR TARGET AUDIENCES.

5

Your name pops up whenever a potential customer is considering a product, service or solution of your niche. You enjoy brand visibility and brand recall, triggering more opportunities for you to start sales conversations.



YOU WILL ENJOY MORE REFERRALS AND ENDORSEMENTS.

6

Referrals come easy for you, because the good work you do spread far and wide. Prospects would say they heard of your name being mentioned or being highly recommended, and clients would give you testimonials willingly, often without being asked.



YOU WILL ENJOY LOWER MARKETING & CUSTOMER ACQUISITION COSTS.

7

Because your brand name is well established in your industry, you do not need to put in as much efforts in marketing when compared to your competitors. And because you constantly get referrals, your cost-per-customer is lower too.



YOU WILL BE ABLE TO NEGOTIATE BETTER PARTNERSHIPS.

8

When you are launching new products, services or solutions, it is easier for you to find channel and distribution partners. Same goes when you are looking to expand your offerings too. Partners are more than happy to co-brand with you.



YOU WILL ATTRACT THE TOP TALENTS TO WORK IN YOUR ORGANIZATION.

9

Young, hungry talents are eager to work with you, to play a part in realizing your vision. They see you as a role model, a mentor, a trusted guide – one that can empower them to reach greater heights in a shorter time. You will never be short of a talent pool to fish from.



YOU WILL ATTRACT MORE INVESTMENT OPPORTUNITIES.

10

Fund raising comes easy, because in the eyes of the investors, you are a safe bet. They want to put their money on a “winning horse”, and having you as a partner and in their portfolio meant improved visibility for them as well.


MARKET LEADERGAME PLAN

At the end of this 60-Minute Implementation Webinar,You Will Walk Home with the Blueprint toBecome The Authority Of Your Industry.

REGISTER NOW | HTTPS://AUTHORITY.INSTITUTE/MLGP

2021

This Online Training is Normally Priced at USD99 per ticket. As part of an economic recovery initiative forsolopreneurs and small business owners, for a limited time, it will be FREE. Sign Up While Seats Are Still Available.

Documents

How to Generate More Income with 4 Different Time-Tested