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Last year in GEN’s September 1 issue, I wrote about three outstanding biotech companies—Celgene, Genzyme, and Monsanto, that dramatically changed their business models and technological competencies in order to flourish in completely new businesses. Here I will focus on more common, market-based challenges that may induce a company to change its business model, particularly as they apply to smaller privately held companies.
Every once in a while a company may alter its marketing focus because sales in its targeted market are substantially lower than projected and appear likely to remain flat over the long term, and because management anticipates a major opportunity elsewhere. This change of focus would then result in the company retargeting its vertical and/or horizontal markets.
Original Article: The Dilemma of Changing Targeted MarketsNEXT ARTICLE
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