Declining Market Opportunities
A multi-product Fortune 500 company became our client after several years of growth selling into the automotive industry. They realized their current market opportunities for continued growth with existing products were declining. Leadership believed opportunities might exist in other markets with only minor product modifications. However, they were short on resources and experience. So, they contracted with Breakthrough to make a viability assessment of these markets.
The Breakthrough Solution
Breakthrough Marketing Technology first performed a Market Space Investigation (MSI) to determine the best market or markets for a deeper dive into the potential for our client?s participation. We found two markets – commercial construction and marine – that utilized the same technology.
In the next step, we conducted a focused Rapid Market Assessment (RMA) into those two markets, identifying
- Market size
- Value for our client’s technology
- Key potential customers and competitors
- What was needed to participate
We helped them develop a new value proposition, positioning, and sales access to those key customers. With only minor product modifications, they were able to penetrate both these markets.
Our client redesigned their customer facing activities to serve all three markets with our advice and coaching. Because we shared our process and tools in a novel “learn while doing” approach, the transfer of learning from Breakthrough was successful. Our client installed and continues to use this methodology across their businesses.