Exploiting New Market and Product Opportunities

Situation – The organization, comprised of four major business groups, rode the tide of the US economy. It performed well on most financial metrics, except for sales growth. With a change in Senior management, came a desire to improve relative market position and achieve higher growth rates in the broader global marketplace.

Challenges – A period of portfolio adjustment ensued, incorporating a series of acquisitions and divestments, creating a more focused entity. An increased emphasis was placed upon organic growth along with greater investment to fuel new product research and development. Having been a multi-domestic, moving to a global integrated organization provided a significant challenge. Another hurdle was to migrate from a sales-oriented to market-driven firm that was comfortable pursuing accelerated growth within an international marketplace. This occurred within a period of industry consolidation and increasing customer expectations heightening the competitive environment.

Actions – Working with the Group Vice Presidents and Product Teams, identified, assessed, pursued strategic global business development and new product opportunities.

  • Established global market view and marketing strategy. As an acquisition effectively tripled the size of the business, a new approach was a top priority. Directed first global market research, competitive intelligence effort. Multi-national, cross-functional team established product roadmap, defined product enhancements, competitive marketing and product position and key account management strategies for major OEM accounts.
  • Identified, assessed 3 promising new product opportunities within the Automotive market. Developed business plans, secured $15 M multi-year R&D funding, created prototypes for customer test & evaluation, moving to new product development and new product launch.
  • Cultivated formation of a strategic partnership. Cross-functional team from both organizations conceptualized new product offerings, defined target market segments, sales and pricing strategy, new product development and investment requirements. Conducted End-User market research to validate opportunity. Created business plan.

Results

  • Delivered $68 M/yr. sales growth, executing international marketing strategy.
  • Created $160 M/yr. revenue stream, driving new product launches.
  • Led joint venture formation, achieving board approval.

When it comes to profitably growing your business in today’s turbulent environment, does this bring into focus a challenge you are experiencing right now?

Would you have a few minutes to discuss it?

Contact me at rich@rich-kohler.com or 480-766-1772. I look forward to speaking with you.

 

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