Market Challenges

Owned by Mushfiqur Rahman
Jul 19, 2022
2 min read

Local TaM (Target Accessible Market) Challenges:

  1. Market Adaptability/ Mindset: Our market is not ready to adapt to new technology. Our management and user mindset is not ready to use new technology or tools.

  2. Market Affordability: A major portion of our Market still can't  afford technology.

 What should we do:

  • CxO mandet: CxO can impose the set up to use the Technology .

  • Educate/ Awareness: We can educate the management on how technology can fulfill their requirement from the first mile to last mile. We can build awareness regarding tech uses.

  Challenge: 

  •   Accessibility to Management : Not always can reached/explained to CxO's

  •   Lack of proper Knowledge: Sometimes they didn’t think about their requirements.

 

Organizational Challenges: Organizational previous  culture always creates barriers to     adapt to new technology. The main reasons are- 

  • Resource Scarcity: Lack of tech savvy efficient resources always create barrier in new technology adaptation.

  • People adaptability: Users (FRA)  are not ready to adapt to new technology instead of the old system.

  • Digital Transformation Journey : Organizations are not ready to allocate budget to transform their business and accelerate digitalization. 

 

Pricing Model Challenges: 

  • Saas ( Software as a Service):  In Saas we don't need to engage with feature customization and pricing .But the Bangladesh market is not ready for Saas yet. Procurement always burgain to reduce prices from the base price. 

  • Value based Pricing model- Module wise : Here technically educated management think about module price as investment to grow the business through increasing incremental sales. On the other hand, technically uneducated management thinks about module price as cost and always management tries to reduce the cost and not go for incremental business.

  • Value based Pricing model- Benefit  wise : Here Pricing model are changed as per market segmentation such as SME Plus, Brand Lead based, Brang FMCG and Service based. We need to fix the price with 20% marked up for burgain. We have to customize features according to customer needs and build a package to provide the customer.