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Industrial Equipment: Sales and Marketing
When a local company, expert in manufacturing and sales of industrial components, decides to go national, its success depends on the adaptability of its capabilities to the complexities of inter-state supply chain management. While working in market expansion in the industrial components sector, we have experienced complex ground-level hurdles and have been helping the client expand its market and geographic reach significantly.
The manufacturer had leveraged its competencies in manufacturing and sales of quality industrial products while maintaining a price significantly lower than the running market price. With tremendous scope for expansion, the potential benefits brought along additional costs of marketing and branding besides other factors. The manufacturer was keen to understand what drives purchase decisions across various states, potential demand, and consequently, evaluate scope for market expansion across sectors and regions beyond its current zones of operations.
We worked on the project to design market expansion strategy and to achieve substantial sales target within a quarter. Our collaborative efforts included measures as listed below:
Analyzing the competitors to understand the brand positioning of the client and the opportunities and threats;
Identifying the factors driving procurement decisions for the components via market research, inclusive of, but not limited to, survey of procurement teams across different companies;
Market sizing based on the study of potential and accessible market;
Devising market expansion strategy keeping in view the core capabilities of the company; and
Generating purchase orders via research on procurement processes of various companies, extensively conducting sales visits, and product pitching to relevant companies across various states.
The client has been able to penetrate unchartered territories and expand the market significantly by implementing the market strategy and leveraging on the network base set by us.