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Global Manufacturer Expands Footprint through a Focused Market-Entry Approach

Global Manufacturer Expands Footprint through a Focused Market-Entry Approach

CHALLENGE

An international steel products group was witnessing saturation in demand from its existing markets, leading to a shrinking pipeline. Despite their great product portfolio, they struggled to enter new, hard-to-penetrate markets. They couldn’t pinpoint the barrier, much less chart a path forward into new markets, so they reached out to Grail for an objective assessment and a plan for a bold, informed market-entry.

APPROACH

During our initial assessment, we saw that the group’s expansion approach was largely focused on a limited set of markets. What they needed was a thorough, all-encompassing approach to explore the broader market pool. Acknowledging the technical nature of the client’s offerings, we first immersed ourselves in the business, ramping up our understanding of the product and its application through site visits and SME conversations. Then we quickly set to work using our proprietary “Assessment of Market Potential” (AMP) framework to methodically study several markets, while ensuring alignment with the client stakeholders. We looked at a large set of markets and the relevant macro and micro attributes, prioritizing a few in Africa, South America, Europe and the Middle East for further deep-dive. Each of the shortlisted markets was then objectively compared on business landscape, product value chain, customer and competitor landscape, amongst other themes to ascertain the market attractiveness quotient. Then we identified the client’s ability to win in each of these markets, through a quantitative assessment of the client’s operations. We looked at a large set of markets and the relevant macro and micro attributes, prioritizing a few in Africa, South America, Europe and the Middle East for further deep-dive. Each of the shortlisted markets was then objectively compared on business landscape, product value chain, customer and competitor landscape, amongst other themes to ascertain the market attractiveness quotient. Then we identified the client’s ability to win in each of these markets, through a quantitative assessment of the client’s operations.

"We needed accurate market intelligence about hard-to-reach regions where there was very limited publicly available information. Grail helped us understand the specific questions we had about each region and the decisions we needed to make. They applied a variety of research techniques to gather and validate data. The quality of analysis and insights was exceptional, and was packaged and delivered in a workshop format which ensured that our questions were answered and our team could quickly and confidently make decisions about each region."

RESULTS

The AMP approach opened our client’s eyes to new targeting opportunities. Our exhaustive evaluation informed the entry strategy for key new markets and pinpointed suitable customers in priority markets. With an informed path forward, the client was able to prioritize markets, one each from Asia and the Middle East, as well as other markets of immediate interest.

Built a shortlist from 180+ markets In 3 Days
Interviewed 30+ SMEs across hard-to-reach markets