Assessing the “Size of the Prize”
Manufacturers should focus first on opportunity modeling when assessing current market share.
The manufacturing and distribution environment is one of continuous transformation. With this brings opportunities and challenges for assessing a firm’s “size of the prize,” or market share. Focusing on opportunity modeling is an excellent entry point for sales optimization designs. Opportunity modeling covers elements within a firm’s strategy, structure and management: it highlights the revenue segments, organization and job design, as well as the productivity, quotas and metrics pertaining to the segments and roles. In addition, opportunity modeling provides a clear perspective of what is addressable in comparison to your firm’s current market share, including the following:
- the total market as noted by internal and external data sources
- the part of the market that cannot be attained due to competitors or regulatory factors
- the share of the market that you currently address based on your sales organization and your products and services
- the capabilities of your sales force, keeping in mind the roles, headcount and time available
In recent Alexander Group virtual roundtable sessions held exclusively for manufacturing and distribution leaders, executive participants discussed opportunity modeling and how sales quota allocation cascades corporate objectives to the individual sales reps based on market and territory opportunities. The following video recaps the sessions and provides insights into the four levers of opportunity modeling based on company capabilities.
Interested in joining your peers in a facilitated virtual roundtable session? Visit our manufacturing and distribution Leadership Series page to see upcoming topics. Space is limited, so register today!
Schedule a briefing on this roundtable discussion.
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EXECUTIVE INTERVIEW: Schneider Electric – Aamir Paul
