Opportunity
Anticipating that low-cost Asian competitors would soon enter a key market, the innovation group within a leading international manufacturer identified a strategy that would allow it to quickly introduce its own lower cost, but potentially higher margin, product offerings. Before moving ahead with this strategy, the manufacturer needed to understand its feasibility and viability, the current and potential market demand for the new products, and the potential impact to existing business lines and pricing.
Solution
Research and analysis was conducted to understand and document the:
- Regulatory, environmental, tax, duty and tariff regulations, policies and implications
- Engineering challenges, supply chain, manufacturing capacity and quality thresholds
- Current and anticipated competitive product offerings
- Potential market, revenues, customers, applications and needs
- Impact to current product pricing, market share, revenues, margins, brand perception, and customers
The results of the research and analysis was summarized in a business case and presented to the executive team for review.
Outcome
The feasibility and viability of the strategy was proven and the project was green lighted to move forward to the next stage – execution planning.