Partner search for multi-division and multi-industry company
Client company is a multinational engineering powerhouse. Through their 50-60 years’ experience in one their main business, the company has developed a novel technology which can be utilised in automated measurement and control of solids in liquids.
The client company wanted to explore market possibilities and potential in Korea and challenge their own local in-house technical sales opinion of ‘no market in Korea’.
The client has had operations Korea for 20+ years with staff of about 30-40 people. The organisation has mainly admin, technical sales and support technicians for another industry (division).
We evaluated Korean market potential in municipal wastewater treatment facilities by listing all facilities over certain size specified by the client. After this we estimated the need of the clients equipment in each facility based on the size, units, lines and machinery – initially with accurate data from facilities that listed the required details, then later by approximating from what we learned from the initial step. We also evaluated the technological status of the facilities with visits to key locations; small, big, modern and old.
After the data collection, evaluation and calculation we determined that the client in-deed has addressable market size of EUR50-100m in Korea for their equipment. Service-related income we did not calculate. ROI for the facilities were also estimated to be around one (1) year, which is major selling point in the market.
Once the market potential was determined, we continued to identify possible distributor candidates for this new business.
After scanning the industry fields and evaluating some 500 companies, we were able to identify 20 potential distributor candidates for the client.
From the 20 potential candidates, we further identified five (5) short listed candidates that matched the client preferences the best and who were the most interested in new partnership.
After having face to face meetings and follow-up discussions with each short-listed candidate, the client decided to sign distributor agreement with the best candidate. Together with the new distributor they are now doing sales work for almost one (1) year.