How KDMI’s Helped a Ground Engaging Tool Manufacturer to Scale Up in Market
A domestic company in ground engaging tools needed required detailed insights on how to expand and increase its market share in global market. Owing to ongoing market challenges in mining industry, strengthened position of leading market players, client was struggling to acquire significant market share in global market. Several leading market players in industry were having diverse product portfolio and client was also focusing on increasing its ground engaging tool products. The client approached to KDMI to understand future industry trends and acquire a new consumer base in global market. The company also required strategic insights on product segment in order to diversify their product strategically.
KDMI conducted competitive landscape analysis to understand business and market share acquisition strategies of major players across the globe. It was observed that leading players were investing extensively in research and development and focusing on launch of new and innovative ground engaging tools. Furthermore, major companies were focusing on ways to reduce tear & wear and increase life of ground engaging tools. KDMI also founds that growth of mining industry in developing and emerging economies is offering significant opportunities for manufacturers to capitalize.
We also conducted segmentation analysis which helped us to create a comprehensive roadmap of promising product in future. This analysis also revealed opportunity gap which client products could address.
Based on this finding, we advised our client to expand its footprint in most promising countries. Our client also used segmentation analysis develop, manufacture and expand their product offering.
KDMI country opportunity analysis helped the client to plan a a new plan to capitalize on opportunities. The client increased its focus on expansion in few promising countries. Three quarter later, the company emerged as a significant competitor of companies operating in respective countries.
KDMI product diversification recommendation helped the client to streamline its product which resulted in increased sale of products.