Growing Market Share in the Process Automation Market
The Challenge: Our client wanted to grow its market share to double digits in five years with the goal of becoming the number one or two player in the market.
Assessment: Blue Canyon’s analysis was driven heavily by end customer interviews covering the client’s key served industries that spanned across multiple regions including: North America, Latin America, Europe, Asia, and the Middle East. In the course of the study, Blue Canyon visited approximately three hundred key purchase decision makers to understand their organizations’ strategies, purchase decision processes, product and service needs, and supplier management philosophy.
Strategic Solution: Blue Canyon developed a completely new market segmentation structure for the client, moving the client away from its traditional focus on industry and geography to a segmentation based on customer’s sophistication, management philosophy, and organizational structure. Blue Canyon detailed the characteristics of each segment and a recommended value proposition for each, and worked with the client to develop the specific product and service offerings to bring to each segment.
Results: As a result of the study, the client moved from a one-size-fits-all product offering to a more customized product offering to effectively sell to segments of the market that it could not reach in the past.