The robotics industry is a boon for many consumers and enterprises alike which solves the problem of high labour cost in developed economies for repetitive jobs. The client is a player in the European robotic pool cleaning industry & wanted us to assist them in creating a go-to-market strategy for their offering where the major focus was on prioritising the market entry into various geographies.

Challenges

(A) Shaping & establishing the company in a market that’s relatively new & characterized by new innovations

(B) Low consumer trust as most companies are not well established & new to the consumers

We had to create a strategy for the business to decide which European market to enter and how to enter the same with few resources.

The way we approached the case was to first understand the industry in all of the different potential markets using strategic analysis frameworks like Porter’s 5 forces, PESTEL and so on along with studying the macro trends in the whole EU region.

The next step was to understand the competition dynamics in each geography & decode the whitespaces that we could target and tap into.

Basis the competitive benchmarking and whitespace analysis of different companies in different geographies, we created a set of key factors to track for market entry. Using these KPIs, we formed a market entry preference model for the client that recommended the geography and time of entry basis the key factors involved.

The main challenge was to figure out a go-to-market strategy for a business in a rapidly growing and evolving industry where many players were operating in different geographies, some even operating across multiple geographies.

The key challenges were –  

Deciding & prioritizing the key factors for market entry strategy

Deciding the time and location of market entry along with the approach of how to enter the market

Prioritizing the key customer segments for various markets & deciding how to tap into those

Customizing the key aspects of the market offering to better align with market expectations and maximize business revenue

The key challenges were solved keeping in mind the financial viability, industry best practices and client’s preferences. The industry analysis revealed macro level insights like which country offers the most scope of development for robotics companies and how conducive the local market is for our product to thrive. Key takeaways –

We looked at two macro factors for each country that pointed at how the pool-water cleaning industry would grow. These were “Economic growth” & “Construction industry growth”

We also evaluated the industry specific factors for the pool water cleaning industry like “Market size”, “Growth rate” & “smart systems market” to decide how these would impact our market entry strategy for each geography

Based on usage of smart system solutions & the average income, we recommended customer segments of HNIs & other critical segments with targeted messages for them.

We reevaluated the existing market strategy & made pinpointed interventions like bundling the product with warranty & other add-ons to enhance the perceived value of the product offering while making a positive impact on the top-line of the firm.