Market Test Drive in Thailand, Malaysia, Vietnam, India and the Philippines
- Countries: SEA
- Industry: Technology
- Year: 2017
- Type: Market Test Drive
Client company is a family owned European technology company. The company has developed through intensive R&D work a unique technology to convert mainly agricultural residues into high value biofuels or biochemicals. The domestic market for this technology was very limited and the company had to find growth from export markets. Asian countries generate vast amounts of agricultural products and as a side-product also various kind of agri- based residues. The customer wanted to know if their technology would have realistic opportunities in some selected Asian markets and how they could rank the markets based on facts and verified market attractiveness for their technology.
The first phase of the project was to define criteria on how to measure objectively three dimensions of the markets namely 1. Market attractiveness, 2. Market maturity and 3. Market potential. These criteria were defined together with company’s management team in a one-day long workshop.
In the second phase the required data was collected from the markets mainly through interviews among potential customers and other industry experts. The interview results were also complemented through desk research. Company’s own salespeople took part in most of the customer interviews. Asian Insiders arranged the interviews based on their extensive local networks. In five countries altogether some 60 customer interviews were conducted.
After the interviews Asian Insiders consultants drafted first country- specific reports, conclusions and recommendations. Finally, an aggregated report was compiled showing the markets in comparative way against each other. The company was then able to rank the markets in priority order and make go-no go- decisions country by country.
Importantly as a side product a preliminary project portfolio was established. This was then used as a basis for future sales work.
Project life cycle is relatively long in technology sales and when dealing with project size in excess of 100 million Euros. Nevertheless, the company through various phases finally signed a deal with a major state-owned energy company to establish a bio- refinery in one of the target markets with more projects in the pipeline. There are also active project negotiations ongoing with several potential customers, which were originally interviewed during the Market Test Drive- phase.