Infiniti Research, a leading market intelligence solutions provider, has recently announced the completion of its latest success story on market entry research. This success story highlights how Infiniti’s market entry strategy helped a mining market client to identify the most favorable markets that presented the best opportunities, utilize excess manufacturing capacity, and increase its return-on-capital.
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The global mining market is on a new wave of transformation. The advent of automation technologies has led to the augmented use of smart and connected solutions. This, in turn, has provided significant opportunities for mining companies over the past few years and is expected to do so in the coming years. However, factors such as complex social and geopolitical risks, increasing energy costs, and lack of infrastructure have put companies in the mining market under exceptional pressure to control costs, boost efficiency, and improve safety performance. As such, companies in the mining market are looking to expand their operations to new markets that present the best opportunities.
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Business Challenge: A mining equipment manufacturer, based out of China, was seeking new market entry options to utilize excess manufacturing capacity, take advantage of its knowledge of adjacent markets, and increase its return-on-capital. However, the mining market client was unsure of how to identify the most favorable markets that would present the best opportunities consistent with its capabilities, value proposition, and overall strategy. Also, the mining company lacked insights into future market growth, competitive dynamics, and business opportunities directly relevant to their company’s capabilities. Besides, the mining market client lacked the in-house expertise to conduct the in-depth research and analysis necessary to evaluate market entry opportunities. They chose to partner with Infiniti Research to rank attractive markets based on a set of criteria that adhered to the company’s capabilities and growth objectives.
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Our Approach: To help the mining market client tackle the above-mentioned challenges, the experts at Infiniti Research followed a two-phased approach. The initial phase involved identifying profitable markets against a set of quantitative criteria, such as industry growth rates, geographic economic conditions, and market size. Also, the experts prioritized the markets that were the best fit with the client’s capabilities and objectives. Besides, the experts selected a small number of high-potential markets for further evaluation in Phase 2. The second phase consisted of in-depth, qualitative research and analysis to develop a market entry strategy for each priority market. In addition, the experts at Infiniti Research recommended three specific geographic and product markets that represented the most significant opportunities for the client.
Business impact of the market entry strategy for the mining market client:
- Gained a deep understanding of the market dynamics, including barriers to entry, customers, and trade environment
- Identified the untapped opportunities based on the market entry research
- Formulated go-to-market strategies to scale their business prospects across emerging markets
- Planned and executed their foreign market entry strategies successfully
- Avoided cognitive biases that undermined the market entry decisions and expanded their reach by entering key target markets
- Captured higher market shares in the new segments in a more cost-efficient manner
- Understood the factors hampering the growth of the market and made informed business decisions to enhance sales and production
- Identified the most favorable markets that presented the best opportunities
- Increased its return-on-capital in one year
Want to know how our services can help mining companies to strategize their business functions? Request more info and our experts will get in touch with you with comprehensive insights.
About Infiniti Research
Established in 2003, Infiniti Research, is a leading market intelligence company providing smart solutions to address your business challenges. Infiniti Research studies markets in more than 100 countries to help analyze competitive activity, see beyond market disruptions, and develop intelligent business strategies. To know more, visit: https://www.infinitiresearch.com/about-us
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Contacts
Infiniti Research
Anirban Choudhury
Marketing Manager
US: +1 844 778 0600
UK: +44 203 893 3400
https://www.infinitiresearch.com/contact-us
