• Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint
Share this Page URL
Help

Element 26. Strategy to Penetrate Market > Practical Experience—This Deserves t...

Practical Experience—This Deserves the Medium Weight of 2

My best student teams solve this element prior to writing their business plans. They do it by attracting a prospect into an actual sale and then modeling their market penetration upon that first success story. On the other extreme is what we did at PTAT, the revolutionary underseas private-ownership-oriented fiber optic cable. (See Appendix II.) Our design/development/installation cycle was so long that we could not hang out in the market place for fear of losing our advantage—we were compelled to find a white knight quickly who could carry the enterprise to its next level. In the 12 months it took to locate a buyer we inspired 17 Fortune 100 companies to sign expressions of interest in our services. Naturally they were the first to sign actual purchase contracts once US Sprint took over. Penetrating the market in this case required evidence of demand that was solved with the letters from the prospective customers.


PREVIEW

                                                                          

Not a subscriber?

Start A Free Trial


  
  • Creative Edge
  • Create BookmarkCreate Bookmark
  • Create Note or TagCreate Note or Tag
  • PrintPrint