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A leading multinational smart card and secure services provider wanted to understand how its offerings can best be applied to the China markets. The China markets seemed to offer unlimited possibilities. With over a quarter million mobile phone subscribers in China, a financial services industry undergoing rapid computerization and reform, and a government eager to modernize its own security systems, the China markets seemed to have the right opportunity set for this client.

Situation

The did client realize that simply going after a fast moving market without a clear strategy would only result in wasted effort and resources. The client needed to know which markets to attack first, what relative advantages and disadvantages each market had to offer, and which set of products and mixes in its portfolio would be most competitive.

And, the client needed to know how to actually start penetrating the markets, once identified.

Solution

CCID Consulting, with its intimate knowledge of the China markets, engaged with the client on a methodology that involved several key aspects:

• Market Scan. After understanding the client's product portfolio and offering, we performed a market scan across cities and industries, large and small, across China. A hypothesis of possible markets was identified through secondary research.
• Analysis. We conducted first-hand research with potential client prospects in 20 cities across China. At the same time, we also tapped into our extensive China industry network to obtain critical information from key business users. We then identified opportunities and threats each market had to offer.
• Product Mix. We combined our market knowledge with our client's product offerings, and identified relative strengths and weaknesses of various product mixes. Together with the client, we rated the attractiveness of the various market/product options before us.
• Action Plan. Based on the above analysis, we proposed a set of recommendations that included: customer markets identification, product mix definitions, product differentiation and positioning, financial projection scenarios, and initial prospect list.

Results

Upon going through the engagement with us, the client was able to see how best to leverage its product offerings in China, and was able save significant time and resources by having the knowledge up front. The client was able to utilize the set of recommendations provided, and in fact, has taken action precisely based on the proposed recommendations and plan.

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