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A key member of the management team had this to say about our work:

“Analytical prowess, strategic thinking and understanding the market perfectly by your team has immensely helped us get the market insights and develop implementation model.

Industry expertise was the key. We wanted to ensure that we chose a provider who understood the complexities of our business model. We are delighted with the way you have diagnosed the scenario with your perseverance and timely execution and provided us, in a concrete manner, all the deliverables and more to do regarding the deliverables. The team from Prayag has been proactive in reaching out to all our stakeholders for the consulting exercise.

I would like to thank the full team for the professionalism and courtesy extended to us and look forward to continuing our relationship because you truly understand our business.”

Benchmarking channel strategy for drives business

case-study

The Client

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.

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Business Context

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.

Prayag's Solution

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:

  • Dealing with difficulties faced by the client’s partners/customers
  • Strengthening partner policies
  • Priority areas for the client to enhance the effectiveness of their distribution strategy
  • Addressing communication gaps between the company and its customers and providing a mechanism of two way communication, including a feedback channel
  • Adopting industry best practices being followed by peers.
Improving the brand equity to enhance the channel’s performance was also suggested.

Benefits

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.



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