Our team outlined actionable opportunities and strategies for an approximate 50% growth in volume and revenue in the near term.
The Challenge
A leading North American adhesives and accessories supplier serving highly diversified end-market customers and industries needed assistance in developing their sales expansion strategy.
Looking to accelerate its penetration within key market segments, the company sought guidance to understand not only the market but the value chain landscape and dynamics. In addition, they requested recommendations regarding the best avenues and strategies for near-term growth.
Customized Market Assessment to Establish Potential Playing Field
Our team conducted a thorough market assessment, including trends, drivers, and unmet needs:
- Determined the volume and value, as well as projected growth rates, for the addressable market segments and subsegments
- Quantified and codified industry dynamics associated with Michael Porter’s “Five Forces” analysis
- Defined growth drivers and macrotrends impacting the market (headwinds and tailwinds), along with rationale
- Identified and defined any major developments (i.e., black swans/discontinuities) that could impact future growth
- Developed customer insights (including product selection criteria, emerging and unmet needs) vis-à-vis the company’s offerings and value proposition
- Profiled major players, including SWOT analysis
The Results
ChemQuest gathered a global team of industry experts to explore the regions and analyze dynamics. Our assessment revealed the initial market area that the client had in mind was too limited and filled with pitfalls that would make expansion challenging.
Based on this assessment, our team recommended — and the client accepted — a second phase to explore an inorganic growth strategy in a single region that the company’s current infrastructure could support and nourish for future growth.