PRODUCT Development & (Re)positioning
WHY IS IT IMPORTANT ?
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At best, the market share of your product will drop to a minimum and stabilize. At worst, you are kicked out by competitors.
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Most aviation business models are based on growth. As the market evolves, any mismatch between your product and what customers want, or any product development from competitors create a risk to see your market share drop. The effect can quickly translate into hundreds, and even millions of dollars of loss.
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Often having a well-established product, especially if it is successful, creates the illusion that it is unbeatable. But the history of technological evolutions is full of successful products that have been replaced and forgotten.
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Identifying such a risk and reacting fast is paramount to preserve an edge.
HOW CAN I MOVE FORWARD ?
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With the first signs that the market becomes softer and sales start to drop, out of any natural economic cycle, it is time to reflect and understand the root causes. Has a competitor's product line been enhanced? Is the market looking for something else? Why customers shy away? Rethinking your product characteristics and its positioning must take priority.
So, how to react quickly and understand what can be done?
It takes an in-depth experience in understanding the market needs and re-positioning commercial aircraft programs to achieve rapidly and effectively a turn-around before it is too late.
Many manufacturers find it difficult to execute this exercise on their own, as their employees' mindset has been formatted around the characteristics and the existing positioning of their products. Investing in an external expertise is essential to challenge the status quo.