The client was a leading private sector bank with an established corporate banking and retail banking division. Also, they had a well-established branch network across the country. The client intended to explore whether the SMEs across the various industry verticals were an addressable opportunity. Top management thus requested UC Strategy to understand the products and services to be offered, regions to be targeted, industries to focus, market potential for different products/ services, credit model to be deployed, to organise the SME group within the branch and to exploit the current strategies for synergies through primary research.
To create an entry strategy, UC Strategy adopted the following approach:
- Developed the definition of SME and defined industry wide segmentation with 193 industry segments, and profiled over 120 industry segments based on secondary research (with neurologists, physiotherapists and orthopedic surgeons etc.)
- Shortlisted over 40 segments for primary research
- Developed market potential across various products and services
- Prioritized focus on industry segments
- Identified key success factors for a late entrant into the market
- Defined brand positioning for the SME sector
- Developed a performance measure to monitor success of implementation
- Identified key locations for market entry
- Defined the internal organisation structure and brief job descriptions
- Identified key risks in operationalizing the strategy
The project provided the client with a business plan and developed a comprehensive set of strategic initiatives supported by an implementation plan.