THE CHALLENGE

A global water testing equipment manufacturer required primary market research to define a growth strategy in 14 countries. This was due to limited market information available, especially for difficult to access markets like Russia, Saudi Arabia, Iran, Colombia, Indonesia and Vietnam. Amane conducted customized market research to:

Understand the regulatory environment and compliance for water quality testing in each country

Estimate the market size of water quality testing now and in the next 5 years

OUR APPROACH

Evaluate ease of access and initial opportunity

Assess product fit with country requirements through review of regulated water quality parameters and testing methods in 14 countries

Understand mandated water quality testing frequency to provide directional market size for compliance

Identify regulatory bodies for local product approval to facilitate market entry or overcome regulatory barriers

Investigate size of target customer segments by building a qualified list of all water testing laboratories in each country

 

Quantify market size

Interview >800 difficult to reach target customers to collect data on actual testing frequency

Quantify size of the market and future growth to understand potential revenue to be gained

Validate market shares

Identify dominating water quality testing methods to understand competitive environment and provide input to marketing plan

 

Recommend market strategy

Prioritize countries for immediate and long-term focus

Pinpoint market segments of opportunity within each country, alongside tactical support for the client to follow up with interested potential customers

Provide recommendations on overcoming market entry barriers, for example working with relevant regulatory bodies

Set sales targets and develop growth plans for distributors

 

OUR ADDED VALUE

Dedicated market research team to manage difficult to reach markets (e.g. Russia, Saudi Arabia, Iran, Colombia, Indonesia and Vietnam)

Ability to gain trust of >800 senior staff in water laboratories and utilities to share sensitive information

Network of qualified fieldwork agencies and native researchers to conduct study in 14 languages

Specific knowledge on the water quality testing market to provide actionable recommendations based on robust primary data

IMPACT

Decision to pursue market entry in two countries, creating a potential 20 million dollar opportunity

Prioritized three countries of highest market attractiveness for immediate allocation of resources

14 country specific strategies to mitigate market entry barriers for long term success

Distributor management tool to set targets and plan for growth