Identify business propositions and use-cases of Tech Co.’s product from potential customers

Problem

With the advent of digitalization, customer preferences changed and so does the value they seek out of the product. Tech Co., is a leading provider of network technologies who wanted to understand the value proposition of its network from its potential customers. This can further help Tech Co. in deriving value based pricing strategy.

Many companies fail to realize the true value proposition of their products and lose a huge chunk of revenue. After the identification of the business proposition, Tech Co was able to better define the prices of their products.

Methodology

Phase 1: Background research and desk research on companies

• Tech Co. selected nine leading multinational corporations which are operating and offering IOT solutions. With the advent of digitalization, companies are providing digital services on top of physical products. These companies use connectivity technology to transfer data and communicate M2M.

• SprintlyWorks took knowledge transfer session with the Tech Co. team to understand their offerings and connectivity technology better and created an exhaustive list of data points that needs to be collected from companies’ website and manuals

• SprintlyWorks started their research with elevator and heavy manufacturing companies and identified business proposition, prices of the product, use-cases, shipment volume etc.

• The research sources include academic research papers, company articles, news headlines, annual reports, product manuals etc.

Phase 2: Desk research selected companies

• SprintlyWorks completed the desk research on other 5 companies using the same methodology

• SprintlyWorks team also conducted a market sizing and shipment volume data exercise, where we identified the growing industry and potential for cellular connectivity market.

Phase 3: Excel based tool and recommendations for ranking of the companies

• SprintlyWorks created an excel based model and provided final recommendations on the potential of companies

• The ranking of the companies was done on the basis of their width of cellular connectivity portfolio, shipment volume, their revenue, manufacturing and geographical presence, the industry size, and CAGR.

• Further these companies were ranked on the basis of impact on Tech Co’s business and if there is a huge potential of revenue for Tech Co.

• SprintlyWorks team created a matrix to identify the best suitable companies that Tech Co. should target

Results

Tech Co. successfully derived new revenue potential in the selected companies for its business and estimated shipment volume. This further helped Tech Co. in its pricing strategy for these companies. After the research, TechCo. will be better able to cater to their customer’s demands.