The client is a global manufacturer of components and solutions for refrigeration and air conditioning, heating and water, and motion controls. It has a turnover of 6 billion USD and employs approximately 26,000 people worldwide. It is present in 20 countries and its sales network consists of more than 140 sales companies as well as 450 agents and distributors across the globe.
The client was facing growth challenges for its Drives division in India as it is not a well-known brand in the country.
Moreover, being a pure play, its range of products is not comprehensive and this affects the company’s ability to enroll the
right partners. Although the company has established strong direct relationships with strategic “A” category customers, it is
finding it difficult to penetrate a wider range of “B” and “C” category customers through channel partners.
The company wished to benchmark its go to market strategy for the Drives division vis. a vis. competition and examine ways to accelerate its growth in India.
Prayag was selected to carry out this engagement on the strength of our proven track record in market assessment, growth strategy consulting, industry understanding and network. Prayag’s good mix of primary and secondary research, strong interpretation skills and the ability to present an objective picture based on findings also bolstered the case.
In order to understand client context clearly, the Prayag team held extensive talks with the client’s management team and
understood the objective and expectations. Next, the team framed individual questionnaires for interviewing the client’s
partners/customers, key peers, channel partners/customers, and the influencer community.
A mix of face to face and telephonic interviews was used to gather inputs from the representative sample of respondents.
The team then analyzed the quantitative and qualitative data rigorously to determine priority areas for the client to enhance the effectiveness of their distribution strategy as well as to understand industry best practices.
The report offered actionable recommendations on:
The company benefited from this study as it provided an independent assessment of how to address a key business pain-point.
We also provided recommendations to implement a revamped distribution strategy.
The company is currently implementing the recommendations made by Prayag.