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A manufacturer of ink jet printers was among the first suppliers in the industry, and had remained among the market leaders for many years. An increasing number of domestic and off-shore competitors were pressuring margins on both printers and ink. The company had the idea to develop a lower cost model printer, with a reduced feature set, that would satisfy the requirements of a large part of the target market. Together, we were able to develop the market requirement definition for the ideal product, and in the process, market research revealed that not only was product price a key driver, but also size, portability, user-friendliness, and larger ink capacity were also strongly valued by customers. To also reduce selling costs, we developed a significantly different go-to-market strategy to designed to rapidly gain market share ahead of imitators. The ability to sell this model in volume further reduced manufacturing costs and increased adoption. The new product was a great success for the company.
A capital equipment manufacturer serving the semiconductor industry was searching for ways to grow revenue and offset cyclical revenue swings. By identifying new markets for the company's existing technology, they were able to double annual revenue in under three years. This was accomplished without the introduction of any new product families or technology platforms, simply by offering existing products and minor product variations to address applications in these new markets. Keys to this success were identifying prospective compatible markets and key accounts within those markets, understanding customer challenges, sales training and preparation, and a new approach to marketing to these new segments.
A manufacturer of industrial refrigeration equipment, long established in their own geographical market, was unable to move the needle on annual revenue beyond a plateau they had reached. Through new product definition and development, taking on representation of compatible products to round out their product offerings, and expanding their sales reach with a combination of direct sales and distributors in surrounding geographical areas, we were able to double revenue on these products in under two years.
A capital equipment manufacturer sought to launch a new product line of smaller micro-machining centers in North America. At the start of the project, all North American sales were through a direct sales force, focused on a different market. The commission structure for the new product was insufficient to lure these sales people away from their existing customer base. We sought an alternative distribution channel - sellers of macro-machining tools. These independent distributors were a much better fit between the new product and the target market. They had long standing relationships and frequent contact with the key accounts sought. They were able to offer sales, service, installation and integration support. The commission structure was commensurate with other products they sold. The manufacturer continued to pursue large key corporate accounts with their direct sales force. This unique distribution channel in the market led to a big success, and with very few changes, is still functioning well over a decade later.
A leading software solution provider enjoyed success in a rapidly growing market. Their software was designed and developed in India to meet US market requirements, where the bulk of the company's revenue was generated. But the information flow required for new product development was hindering the company's growth. By implementing a market requirement definition and communication standard, a phase-gate review process, and improved data collection and reporting of beta test results, we were able to clarify the business case for new products, improve communication, provide clearer product requirement specifications, and shorten product development cycle time.
A manufacturer of lasers used primarily for research and scientific applications saw the coming adoption of their unique technology in ophthalmic surgery. Working together, we were able develop a winning message, identify key companies within this industry, target and engage the right decision makers - resulting in testing and evaluation of these lasers at each of the targeted accounts within six months from start.
A Japanese manufacturer of automotive aftermarket products sought to introduce their products into North America. Within the first few months we were able to develop a compelling web site in English and Spanish, an online promotional campaign, identify and engage key distributors, bring third party customer service phone support and order fulfillment up to speed, engage key aftermarket retailers, make the product available via major online e-commerce sites, produce promotional videos, exhibit at the SEMA show in Las Vegas, and begin product evaluation at key Tier 1 automobile manufacturers.