Major changes in market situation.
Look out for major changes in market situation.
Look especially for changing market factors and changing market behavior.
- Have your underlying business assumptions changed? As an example, the Internet has changed the business landscape so enormously that in some industries almost any plan that was developed without a view of the Internet may need revisions. That may not be true for a landscape architect or restaurant, but for a travel agent, graphic artist, or market researcher it&undefined;s obvious.
- Do you have new competition? Have new competitors emerged, or existing competitors changed the business landscape so much that you need to review and revise?
- Has the product or service picture changed? For example a new technology may have emerged, changing the market perception of what you sell. There may be new products or services offering related solutions to the same user needs you satisfy.
