Business Challenge:
With an insight from their close network in India about the vast opportunity, they were geared up to enter Indian market and wanted to evaluate India Entry Strategy.
Our Approach:
We recommended assessment in phased manner.
Step I: To assess addressable market opportunity and
Step II: Device a Go-To-Market Strategy
From our pilot study, we realised that the study needed in-depth understanding of current users via primary interviews, their usage & purchase practices of product of interest, key suppliers and their installed capacities the current & likely future penetration of product in application segments
- We researched, identified and screened the users, their geographical spread and estimate number of such users in India
- Understood the usage practices – application areas, consumption norms and their annual requirements of client’s product
- Evaluate the sources of supply, their infrastructure, annual production and key customers
- Understand market trends from user, suppliers and industry experts to assess growth drivers and issues impacting the client’s product
- Estimate current market by end users, competition, by region and forecast likely market for next 3 years
- Determine addressable market (current and for next 3 years)
Our Recommendation
We recommended the client NOT to enter market as the addressable market was too small their product range and to wait until the opportunity is right before re-considering India Entry.
Client Results
While they were almost convinced about potential vast opportunity but decided to give their gut-feeling a gut-check!
