Business Strategy Questions: Suppliers
As a supplier, you may face incredibly important strategic questions when launching new products or launching in a new geography. We pulled together a quick list below of sample questions that DeepBench clients have used to evaluate such a business opportunity:
- What are the high-level trends in demand for the product category? Who else offers similar products, and what are they known for?
- Would the product be a complement or substitute to any existing products in your portfolio? Is there any overlap between customers, or between decision criteria in the buying process?
- Refer to similar cases: How have similar products been launched and what types of launches have succeeded or failed? What did they do well, or what did they do wrong?
- Would you require, or should you consider, a strategic partner (distributor, retailer, etc.) to help with the launch? How should you select one, and what options may be available?
- Is this the same customer segment that your business has traditionally served, or a new type of customer? If a new type of customer, how is their decision making process different from your current customers?
The answers to these questions are specialized, and different for each case, and often the best way to find this information is to speak with advisors that have a lot of experience in the industry with a different vantage point than yourself. DeepBench advisors are here to help address any of these questions – and our team is ready to help find the advisors you need.