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Opportunity

 A China-based construction equipment manufacturer was planning to enter into the North American market for their Backhoe Loader product range. In this regard, they wanted to develop detailed market entry plans and identify potential customers and channel partners in the target segments. Diverging into a completely different market on another continent was definitely an opportunity to use our 4-decade old experience and cater to the client’s needs.

MITCON’s Plan

The first step to our thorough process for any service is research and integral evaluation. Following analysis has been carried out focusing on North American Market (USA & Canada):

  • Market opportunity assessment to understand the available market in US & Canada. A SWOT analysis for the business venture was conducted.
  • Purchase journey mapping of potential customers focusing on Agri, Construction, and Municipal applications. Evaluating all possible options target groups for maximum business marketing and reach.
  • Assessment of Government regulatory norms with reference to safety and defining the suitable safety standards for the new equipment.
    Assessment of ISO/SAE norms and identify the preferable standards by customers with reference to product, parts, and spares.
  • Studying the market for rules, regulations, product reach, all possible target groups, business set-up options, etc. was conducted by MITCON in a thorough and expansive manner.

The Result:

➜ With our expansive research and filtered data, we analyzed all the possible markets to tap into, choosing the right equipment, spaces, and processes for the most cost-efficient and smooth flow of work.

➜ A detailed business plan and a road map to achieve successful market entry.

➜ We have also identified a suitable channel partner to promote their range of products among the target customer groups.

➜ The business thrived with our expert consultancy and statistics

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