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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.
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.