Case mkt potential & competitive benchmarking

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Information about Case mkt potential & competitive benchmarking
Business & Mgmt

Published on July 25, 2013

Author: RohitChaturvedi4

Source: slideshare.net

Description

A Fortune 100 US diversified group was planning to aggressively pursue growth in one of their recently launched businesses (Sensing & Control) for India. They were looking to ramp up their resources and market reach to aggressively capture market share. The company identified the need for an external support to assist them in their rapid market expansion Initiative
The Assignment:. The need for external consultant came up as they were seeking to identify the market potential for their products, understand the competitive landscape, prioritize the opportunities and do the resourcing to execute their growth strategy in the least time possible. We were given just 8 weeks to execute the “Market Potential & Competitive benchmarking “ assignment

XnI Consultancy Services 161, Windsor Greens, F28, Sector 50 Noida India , 201301 Ph- 91- 9810209134 91-120-4316510 info@expandinin dia.net, rohit.c@expandi nindia.net Delhi NCR Ahmedabad Indore Mumbai Pune Bangalore Chennai Case- Market Potential & Competitive Benchmarking Overview: A Fortune 100 US diversified group was planning to aggressively pursue growth in one of their recently launched businesses (Sensing & Control) for India. They were looking to ramp up their resources and market reach to aggressively capture market share. The company identified the need for an external support to assist them in their rapid market expansion Initiative. The Assignment: The need for external consultant came up as they were seeking to identify the market potential for their products, understand the competitive landscape, prioritize the opportunities and do the resourcing to execute their growth strategy in the least time possible. We were given just 8 weeks to execute the “Market Potential & Competitive benchmarking “ assignment. The Challenge : The challenges the assignment posed were multifold > there were a large number of market participants in this sector both from the supply side (>30 local suppliers & >15 global suppliers) and from the demand side (>15 applications right from OHV, HVAC, Water, Machine Tools, Marine, DG Set, Oil & Gas, Medical Equipment, etc) . Added to this a large number of the suppliers and customers were in the unorganized sector. This made the task of gathering accurate information and converting it into useful insights for the company very challenging. The third challenge was to understand the product and its applications, as these were highly technical and needed a fair degree of understanding before one could venture out in front of customers/prospects. The fourth challenge was of course to complete the assignment to the clients satisfaction within 8 weeks ! The Solution: Expand in India with its highly qualified professional team quickly got into understanding the product and its applications . They hooked on to their network of business colleagues from the industry to understand the market dynamics for the Control & Sensing Industry. Having understood the basics the team quickly collated all the secondary information around key players, customers, industry experts and other decision makers from respective application areas. All the industry contacts and secondary data was used to map the market and meet the key customers. Long hours were spent to deep dive into each end use application and understand the customer decision criteria, specifications of product used, key growth drivers in the industry , route to market, product differentiation and criteria for sizing up the opportunity. The first hand information from the customer along with specific secondary data research was used to scope the potentials in each applications. In the process some novel ways to size the market and competition were also used. The strong network of present and old business contacts , market participant interviews and smart secondary research was used to map the Competitive landscape for the industry. The Result: In the end the client was very happy with the findings and recommendations from the Assignment. The client infact mentioned that the template used by Expand in India was very insightful and would be used for similar work globally in other countries as well. The Business impact has also been positive with company starting to make strong inroads in the Indian Market www.expandinindia.net

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