Business Strategy & Planning
Crafting the business model – Even successful business models must be calibrated to meet the conditions of each emerging market. All assumptions must be questioned for these markets which have developed innovative practices for doing business within greater constraints for everything including entry, partnerships and even the basic relationship with the customer. An examination of best practices and creative thinking with indigenous resources is needed to solve this problem for each business and offering.
Business planning – Bazaar Strategies works with clients to create a comprehensive business plan covering marketing, financial modeling, risk analysis, and competitive intelligence that serves as the guide for navigating new markets. Plan components include the development of tools necessary for tracking progress and modifying the course of action when necessary. Supportive material for presenting the plan to decision makers and investors are also developed to aid clients to gain the full utility of their plan.
Product and Service Development
Innovation through paticipatory design – Innovation requires questioning assumptions and current practices. Having multiple and varying perspectives engaged with customers and suppliers in a thought provoking environment can surface groundbreaking ideas from unsuspecting sources. Bazaar employs a combination of collaborative techniques in direct dialogue and crowd sourcing to generate solution concepts for its clients.
Rapid prototyping – Once concepts are conceived, Bazaar works with its clients to prioritize, craft and test ideas among target consumers. Prototyping will deconstruct solutions into discreet functions that can be validated independently in order to hone in on challenges and key value.
Product integration – To complete the cycle, Bazaar works with clients to take successful concepts and transform them to fully supported products and services. Support entails identifying and building neccessary partnerships, prescribing necessary augmentations to product development, distribution and maintenance practices, and in certain cases working with clients to monitor and enhance new offerings.
Market Analytics
Proprietary Method for Assessing Demand – Bazaar Strategies employs a proprietary demand assessment methodology that assesses offering potential based upon utility and return potential for individuals and households, Personal Return on Investment (PROI). Bazaar combines its PROI methodology together with income distribution analyses to provide clients with knowledge of market size, target populations, and likely demand for products assessed.
Accumulated Research – Bazaar Strategies continually monitors developments and innovative practices to reach these new emerging markets to provide clients with the latest thinking necessary for competitive edge.
Custom market surveys and analysis – For those client offerings that show promise, Bazaar Strategies can provide the custom research necessary to validate planning assumptions, refine product or service features, and build the roll-out plans for market entry. Bazaar works with a network of market research institutions located in most major emerging markets that, because of their indigenous nature, are best suited for undertaking important last stage research prior to major client investments in their plans.
Business Development
Bazaar Strategies, building upon the business model and planning work it completes for clients, will aid client efforts to enter new markets through partner identification and facilitating initial meetings for clients and their potential partners to explore the possibilities. Bazaar provides the introductions and supporting materials and resources necessary to increase the probability of favorable outcomes.