A major benefit from this work is that we utilized both marketing and technical people on these projects; now, they not only talk to each other, but also speak the same language.
VP, Major Materials Company
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(s) in which our client could potentially participate. We found two markets—commercial construction and marine—that used 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 target the market
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.
With our advice and coaching, our client redesigned their customer-facing activities to serve all three markets. 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.