Need To Know

Tip:

If your corporation is surviving based on products that were a hit several years ago, you may be in jeopardy of loosing market share... and fast!

The Quickest Way to Lose Market Share

Can you feel that?

Have you ever wondered why when you see the premiere for a new movie, the actors look considerably different from the characters they portray? In some cases, these movies were filmed several years ago. With these movies now completed, motion picture studios have a backup plan in the event that current releases are not performing well at the box office. In similar cases, it has been documented that corporations that have experienced tremendous growth from the launch of a new product or category usually run the risk of riding the revenue wave too long before realizing they have little or no backup plan for another home run product.

By employing this detrimental strategy, several things happen:

  • Profits from performing products are used to offset non-performing products.
  • The corporation expands under the assumption that the product will always perform well.
  • The day the product was launched, competitors started working on a new and improved version (usually at a lower cost).
  • The market may start cooling off several months before it's reflected in the balance sheet.

With the use of some proven tips, you can help steer your corporation away from the drought stage it may experience.

Corporations come to us to make sure they don't become a case study in a business seminar on "How to Lose Revenue."