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Product design for entering indian market
 

Product design for entering indian market

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The client is ready to expand into the APAC region. However, there are many barriers to entry and in order to overcome them they will need to enter the market as quickly as possible. ...

The client is ready to expand into the APAC region. However, there are many barriers to entry and in order to overcome them they will need to enter the market as quickly as possible.
In today’s competitive scenario, a product must speak for itself – the quality of the product will make the difference to the consumer.
The client has determined that entering the Indian market will be a profitable and rewarding business venture and an important component of their future business growth.
The client is dedicated to providing the best quality products, tailored to suit the target market needs. The expectation of this project is to capture 20% market share in the next two years.
Prior to entering the Indian (APAC) market, the customer will need to complete the following due diligence: Benchmark study of the competition – product specifications, cost and performance Research and analysis of product requirements for the target market
Without any current presence or infrastructure in India, the client will suffer a high cost, and an extreme amount of effort and time to gather this information and be able to design and introduce the product to the market.
However, any lack in competency or any delay will hamper the customer’s project launch which will cause the entire exercise to fail! To mitigate the risk of failure, the customer decided to contract with a trusted vendor.

Being a pioneer in outsourcing, with a distributed global network of talent, resources and an infrastructure in India, BWIR was the best choice to support the client’s needs.
As illustrated in the following Figure A:
When introducing a new product to a current market, a company only has to investigate market penetration opportunities. But when entering a new market a company is forced to develop their business in the new market and diversify in addition to all market penetration activities. This will lead to a higher cost and longer timeline.
BWIR specializes in product design engineering and has a proven track record of creating a competitive edge for its clients.
BWIR came on-board as an outsourced vendor to complete the benchmark study of the competition and target customer base analysis. In addition, BWIR redesigned the product to suit the target market, APAC – Indian target customer requirements.
Hence, BWIR became a valuable, trusted outsourced vendor for the customer. Since the relationship did not evolve into a joint venture, the customer continues to hold all of the patent and intellectual rights with regards to the business.
On behalf of the customer, BWIR completed the Benchmark study of the competition and target customer base analysis. BWIR also redesigned the product for the customer, based on the target market findings with its in-depth technical expertise and experience in the field.

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    Product design for entering indian market Product design for entering indian market Document Transcript

    • 1 | P a g eCONFIDENTIAL DOCUMENTOutsourced Product Design (OPD)Customerenlightenmentthrougheffectiveoutsourcingofproduct designto enter India Market – A KeyCase Study
    • 2 | P a g eCONFIDENTIAL DOCUMENTThe client is ready to expand into the APAC region. However, there are manybarriers to entry and in order to overcome them they will need to enter themarket as quickly as possible.In today’s competitive scenario, a product must speak for itself – the qualityof theproduct will make the difference to the consumer.The client has determined that entering the Indian market will be a profitableand rewarding business venture and an important component of their futurebusiness growth.The client is dedicated to providing the best quality products, tailored to suitthe target market needs. The expectation of this project is to capture 20%market share in thenext two years.Prior to entering the Indian (APAC) market, the customer will need tocomplete the following due diligence:Benchmark study of the competition – product specifications, costand performanceResearchand analysis of product requirements for the target marketWithout any current presence or infrastructure in India, the client will suffer ahigh cost, and an extreme amount of effort and time to gather thisinformation and be able to design and introduce theproduct to themarket.However, any lack in competency or any delay will hamper the customer’s project launch which willcause the entire exercise to fail! To mitigate the risk of failure, the customer decided to contract with atrusted vendor.ABOUTTHE CLIENTHeadquartered in Europe,the client is one of theleading manufacturers andsuppliers of industrialequipment & machines forthe followingindustries:Food and beveragePharmaceuticalWaste water &chemical industriesThe clienthas a 65% marketpresence in Europe with awell –established customerbase.The client is now expandingtheir product range andmarket presence across theAPAC region.By entering emergingmarkets, like India, andproviding productsdesigned for specific targetmarkets, the client hasplans to capture 20% of themarket share in the nexttwo years.
    • 3 | P a g eCONFIDENTIAL DOCUMENTBeing a pioneer in outsourcing, with a distributed global network of talent, resources and aninfrastructure in India, BWIR was thebest choice to support theclient’s needs.As illustrated in the following Figure A:When introducing a new product to a current market, a company only has to investigate marketpenetration opportunities. But when entering a new market a company is forced to develop theirbusiness in the new market and diversify in addition to all market penetration activities. This will lead toa higher cost and longer timeline.Figure ABWIR specializes in product design engineering and has a proven track record of creating a competitiveedgefor its clients.BWIR came on-board as an outsourced vendor to complete the benchmark study of the competition andtarget customer base analysis. In addition, BWIR redesigned the product to suit the target market, APAC– Indian target customer requirements.Hence, BWIR became a valuable, trusted outsourced vendor for the customer. Since the relationship didnot evolve into a joint venture, the customer continues to hold all of the patent and intellectual rightswith regardsto the business.On behalf of the customer, BWIR completed the Benchmark study of the competition and targetcustomer base analysis. BWIR also redesigned the product for the customer, based on the targetmarket findings with its in-depth technical expertise and experiencein the field.
    • 4 | P a g eCONFIDENTIAL DOCUMENTThe customer realizedthe following benefits by trusting BWIR to be its outsourced vendor:The necessary infrastructure, network requirements, ecosystem, and business environmentwerecreatedto seamlessly step into the Indianmarket50% reduction in project delivery time as illustrated in Figure C: Overall Project Schedule22% reduction in project cost as illustrated in Figure D: Project Cost DifferenceCustomer continues to hold all of the patent and intellectualproduct rightsFigure CFigure D$60$56$850$650$910$706Without a partnerWith apartnerProjectCost Difference(in$K USD)Benchmark Study/Research Development Cost Total Time
    • 5 | P a g eCONFIDENTIAL DOCUMENTOurBWIRs vision is to be a full-service provider to mid-market manufacturing companies. While some ofBWIRs service offerings require in-depth domain expertise, others are technology-related services thatspan multiple domains.Within manufacturing, due to the Barry-Wehmiller legacy, BWIR is equally comfortable with bothdiscrete manufacturing (Barry-Wehmiller divisions like MarquipWardUnited and HayssenSandiacre) andprocess manufacturing (Barry-Wehmiller customers in thefood, beverageand pharmaceuticalindustry).Within discrete manufacturing, BWIRs core strength is in the Industrial Machinery and Equipment (IME)space. These include:Special purpose machinesMetalforming and cutting equipmentPaper converting machinesPackaging technologiesRotating equipment including pumps and valves,compressors, fans and blowersAdditionally, BWIR has corecompetence in:Oil and gasPharmaceuticalsFood and beverageConsumer goodsBWIR offers manufacturers a full suite of engineering and information technology services, bridgingthese two core areas with product lifecycle management solutions. Working side-by-side with clients,our consultants act as practitioners, rather than theorists, and are able to tap the vast knowledgecontained within our parent company, Barry-Wehmiller Companies, Inc.In engineering services, BWIR helps manufacturers to maximize their output in areas such as productdesign, industrial automation, sustaining engineering and value engineering. BWIR also assistsmanufacturers in identifying effective strategies for integrating their engineering functions with the restof thecompany.In IT consulting, BWIR makes technology serve our clients, rather than the other way around. We helpuntangle overlapping and repetitive applications, streamline processes, and make sure our clients areusing enterprise software as efficiently as possible to speed the development and delivery of newproducts.
    • 6 | P a g eCONFIDENTIAL DOCUMENT-BWIR is a global provider of engineering and enterprise solutions to the midmarket manufacturingdomain. As part of the consulting platform of a US-based global manufacturing and technology servicesleader, BWIR has embraced Barry-Wehmiller’s people-centric leadership culture and values. BWIR hasbeen recognizedas a pioneer in outsourcing with a distributed global network of talent and resources.BWIR enables its clients to achieve a competitive edge in the marketplace by striving for executionexcellence in every aspect of what is delivered. Fundamental to our model is the building of proactiveand insightful relationships that foster lasting partnerships.Key differentiators:Driven by our unique people-centric culture and valuesPioneers in outsourcing with a distributed global network of talent and resourcesConsulting platform of a U.S.- based global manufacturing and technology services leaderSpecializing in engineering and enterprisesolutions for manufacturersExecution excellencethrough a proven commitment to process improvementFocused on proactiveand insightful relationships that foster lasting partnerships
    • 7 | P a g eCONFIDENTIAL DOCUMENTUnited StatesHeadquarters:Barry-Wehmiller InternationalResources8020 Forsyth Blvd.St. Louis, MO 63105USAPhone: +1 (314) 862-8000Fax: +1 (314) 862-4154Email Contacts:Jim Webbjim.webb@bwir.comChristopherHricchristopher.hric@bwir.comRaguraman Thulasiramanragu@bwir.comEuropeUK Office:Barry-Wehmiller InternationalResources101 Lilac GroveNottingham, UK NG91PFUKPhone: +44 (0) 780 719 5772Fax: +44 (0) 115 967 8707Email Contact:Vivek Maladkarvivek.maladkar@bwir.comIndiaMumbai Office:Barry-Wehmiller InternationalResourcesKailash Tower, A Wing204 / 205, 2ndFloorN.S. Phadke Marg, AndheriEast,Mumbai – 400 093Phone: +91-22-26821871/2/3573Fax: +91-22-268 217 79Fax: +91-11-460 416 31Email Contact:Adwait Rajwadeadwait.rajwade@bwir.comChennai Office:Barry-Wehmiller InternationalResourcesMPL Silicon Towers, 23-1/B3VelacheryTambaramMain RoadPallikaranaiChennai – 600 100IndiaPhone: +91-44-43 909 100www.bwir.com