Introduction

A leading agricultural machinery manufacturer was looking for the opportunity to aggressively grow its market in ASEAN. For this study, Thailand, Indonesia and Myanmar were selected first since they possess high market potential. Ipsos Business Consulting worked with client teams to quantify the market potential for the product, develop a winning value proposition, evaluate the client's current business model and then devise a new business strategy to best match the opportunities for each market.

About the Client

The client is a global manufacturer of capital goods, including agricultural machinery, with thousands of dealers present across 190 countries.

Business Issue

The client was looking for a way to grow their business more aggressively in these countries as well as to improve their competitiveness. Ipsos Business Consulting was selected for their experience and knowledge in the industry and because they could also provide the client with the solution they were seeking.

Ipsos Business Consulting Solution

Factors that eventually led the client to be able to identify sustainable growth opportunities in Thailand, Myanmar and Indonesia:

1. An internal assessment with the client was conducted. This was critical for Ipsos Business Consulting to accurately identify areas where the client is strong and leverage that strength to capture market opportunities in each market.
2. In-depth interviews were conducted with key brand players, dealers and industry experts in each market in order to have a full understanding of the industry. In addition, BVC (Ipsos' proprietary solution on Brand Value Creation) was also incorporated to aid the client in terms of understanding their end-consumers, who are farmers. This step helped the client to understand both the opportunities and threats that could arise out of potential changes to the client business.
3. A workshop was conducted for competitive advantage assessment using the results from Step 1 and 2. This was to help the client understand where the gaps were in the market and help them identify their winning value proposition to close those gaps.
4. The outputs from Step 1 to 3 were taken into consideration and aided the client to come up with a winning business model and key strategic actions for each country. This also entailed evaluating the client's current business model and revising it to best match with current opportunities.

Results

Ipsos Business Consulting worked closely with the client to devise a comprehensive business model tailored to each target market, covering opportunities available in the market, barriers to growth, key competitive advantages and a roadmap to success. Ipsos Business Consulting also aided the client in terms of evaluating their current business model and revising it accordingly. The client is currently adopting the new model and gradually making necessary changes so that they can achieve their target.