Sustainable Growth Through Meaningful Market Expansion
industry
Manufacturing
year
2023
services
Strategy
Enable a manufacturer aiming to expand market share and profitability in the European market. Conducting a comprehensive market study combining quantitative and qualitative research to uncover market dynamics, customer behaviours, and internal capabilities.
Limited market understanding, complex supply chain dynamics, diverse customer preferences, competition analysis gaps, and the need to optimise internal processes for enhanced efficiency combined with competing resource demands internally.
Executed an extensive market study involving quantitative analysis, competitor assessment, customer interviews, supply chain exploration, and internal process evaluation to formulate a robust growth strategy.
How We Helped
Our engagement commenced with a deep dive into the European market. Quantitative analysis enabled us to identify market size, growth rates, and trends. Qualitative research, including interviews with customers, retailers, and supply chain participants, provided valuable insights into purchasing patterns, preferences, and pain points. In parallel, we carried out an in-depth competitor analysis to understand key players, strategies, and market positioning. This assessment revealed gaps in the manufacturer's offerings and opportunities for differentiation. To comprehend the manufacturer's capabilities, we conducted internal workshops and process assessments. This highlighted potential areas for workflow optimisation, scalability improvements, and cost efficiencies. We assessed the manufacturer's readiness to serve new markets and customer segments, aligning internal capabilities with market demands.
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Results
The market study yielded transformative outcomes. The manufacturer gained a comprehensive understanding of the European market landscape, enabling data-driven decision-making. Insights into customer preferences led to product modifications that aligned with market trends, resulting in a 15% increase in customer satisfaction. Competitor analysis revealed avenues for differentiation, guiding the manufacturer to launch unique features and services that attracted new customers. This strategic move led to a 12% expansion in market share over two years. Internally, process optimisations streamlined workflows and reduced lead times by 20%, enhancing the manufacturer's ability to meet customer demands promptly. This efficiency translated into a 10% reduction in operational costs, directly contributing to improved profitability. By identifying and targeting under-served market segments, the manufacturer achieved a 30% increase in customer base. In addition, insights from supply chain parties enabled the manufacturer to establish more collaborative relationships, reducing supply chain disruptions by 25%.
