Conducting a Market Entry Strategy for a Company Manufacturing Springs, Stabilisers and Air Vessels for Commercial Vehicles
The company was involved in the manufacturing of suspension system components like leaf springs, stabiliser bars, air links and air vessels for commercial vehicles. The top management of the company was looking to India as a potential market for its components due to the exponential growth in the Indian commercial vehicle industry.
To gain a clear understanding of the Indian market, the top management requested UC to assist in the following parameters:
- Defining the general economic environment
- Defining the regulatory environment
- Defining the industry value chain
- Defining market size and segmentation
- Defining market growth trends and drivers
- Defining industry attractiveness
- Defining entry strategy.
To develop the market entry strategy, UC adopted the following approach:
- Identified and analysed the key issues with respect to the following paramters -
- The current market for the components
- The requirements and needs of the Indian customers
- The overall market growth of drivers and trends
- Identified, evaluated and recommended the entry strategy in alignment with the overall market trends and market attractiveness
- Identified the customer needs and requirements and conducted a competitor analysis
- Evaluated the feasibility of entering the particular market depending upon the clients ability to compete
- Recommended the entry strategy for the company based on the overall economic and regulatory environment and market attractiveness
- Prepared a detailed report indicating market growth, trends and drivers for the entire industry value chain
- Outlined key success factors and various options for entering the market.
The client received an in-depth review report of its organisation and an implementation plan, which also included the financial plan.