Answering the following Questions:
Should the firm enter Europe with existing products (and if so, which country should be the launch site)? Develop new insurance product lines (and if so, which ones)? Do both simultaneously? Lemonade’s commitment to market leadership and innovation meant that there are so many opportunities open to the company. Is the company headed in the right direction? Are there issues and risks not being addressed? What and where should Lemonade put its investments?
Think through your response to the question. Use the details in the case as well as the concepts, tools and frameworks we are discussing in class to compose your response. Be sure that you are providing not only an answer to the question, but supporting that answer with details from the case, just as if I was to ask you “how did you get to that conclusion from the material in the case”.
Check the textbook Chapter 3-Chapter4
In case you are re-reading and reviewing the case before you compose your answer to the case question above, feel free to use these questions to help you unpack the various issues posed in the case. Do not write answers to these, but instead to help you frame out your response.
What are the growth prospects for this industry and these kinds of products?
What kinds of value does Lemonade create for its customers and stakeholders?
What acumen has the management team demonstrated so far as it built and adapted the Lemonade business model? In what areas has it appeared to be lagging?
What are the changing patterns of competitive rivalry that need to shape the firm’s decisions?
What are the capabilities not only of competitors currently in the market, but those that may be up and coming?
Where does the company already know enough and where does it need more research?
How do the strategic options leverage Lemonade’s capabilities?
How do these options strain capabilities?