Expanding The Market For High Tech Devices
The Challenge: Our client acquired a company that manufactured an extremely expensive, high tech piece of machinery. The devices the company manufactures produce imaging. Our client wanted to sell the device to new customers and markets, expanding from a largely academic current sales base to a broader commercial marketplace.
Assessment: To better understand potential new markets for the device, Blue Canyon identified the structure and economics of semiconductor and photo voltaic industries. We analyzed and tracked the spending patterns of potential customers to better understand purchase decision drivers. Interviews with industry experts and researchers familiar with the R&D and manufacturing processes provided input on applications for the device that were more targeted toward commercial needs.
Strategic Solution: From our analysis, a distinction was drawn between the needs of laboratories and the needs of commercial operations. While a university science department might use the equipment for pure research because of its amazing ability to “see” atoms; a business could use the equipment for quality assurance and failure analysis in the fabrication process.
Result: Blue Canyon’s recommendations encouraged our client to develop a compact set of applications that appealed to commercial customers and re-organized the sales force. The client created a commercial need for the product and as a result has found success selling the device to businesses that benefit from using the technology. During the first year of implementing the new strategy, the client revenues increased by 320%.