We developed a strategy to address new market segments with existing technology and product know-how for an automotive supplier of electromechanical components and systems.
Initial situation and objectives
- Medium-sized automotive supplier in the market for electromechanical components and systems, who has a global reach
- Strong dependence on a few large vehicle OEMs
- Target: Development of businesses in new market segments with existing technology and product know-how
Approach
- Identification of core competencies along the current value chain
- Identification and analysis of relevant markets and potential key customers
- Assessment and prioritization of relevant market segments and potential key customers
- Determination of cornerstones of the market cultivation strategy
Results
- Identification of market segments and respective key customers
- Definition of market development strategy
- Establishment of contacts with key customers and development of product approaches