Background & The Challenge
Companies in the highly competitive VSAT business are always looking for ways to better understand decisions facing their market and the positioning of players in that market. One equipment manufacturer and service provider with a new management team came to Futron for help in understanding its market position and developing a strategic plan to enhance its future growth. Futron used its proprietary competitive analysis tools, and worked on a collaborative basis with the client’s team to assess existing and potential rivals and develop decision management solutions ensuring pursuit of the best market opportunities.
The Journey & The Discovery
This client learned about Futron through our active role in multiple satellite industry organizations. Since we had previously developed a highly structured set of tools for producing competitive profiles for different segments of the satellite industry, as well as forecasting growth trends in these segments, we were able to quickly create a tailored forecast and competitive analysis approach to meet this client’s specific needs.
The Solution & Implementation
Our competitive profile process included a detailed review of each competitor‘s corporate structure, management team, corporate relationships, product and service offerings, market strategy plans, sales channels, geographic presence, and financial performance. We supplemented secondary research with phone interviews of company executives and other industry specialists, and then conducted an internal review session using our broad team expertise to develop a thorough SWOT analysis of each competitor in relation to the client. Throughout this process we conducted regular meetings with the client’s management and key line staff to validate our understandings and align them with the company’s past experience. We also leveraged internal and external resources to develop a multi-layer forecast of demand for the market overall and for the client’s products and services across specific vertical market sectors, including likely pricing and revenue opportunities.
The Results
Futron’s competitive assessment provided an essential tool for the new management team at this client in developing their first strategic marketing plans. Our decision management solutions enabled them to evaluate its current market position and come up with a well-planned strategy to gain market traction and move ahead of the competition. The close interaction between our teams established an important level of trust and led to a longer-term relationship.