This $1b division of a global manufacturer had developed a new technology which had the potential to provide future competitive advantage. However, it could also undermine margins in its existing businesses. The team was struggling to bring the technology to market, and — as costs mounted — patience from the executive suite was running short.
SOLUTION:
We worked closely with both the senior executives and the business team responsible for commercializing the new technology, to:
- Analyze the market and its competitive dynamics, and then identify new business model opportunities — specifically, to sell individual components of the new technology instead of a complete power generation system
- Help them realize that the technology was better suited to be a part of a different product, in an application for customer segments that they didn’t usually serve
- Redirect their sales and marketing efforts as well as manufacturing outputs on these newly targeted customers and applications
RESULT:
The emerging business unit won renewed commitment and confidence from the executive team — and due to this business model reframing they soon won an $8MM contract to supply a vendor of specialized military products to the government.