A private company in the United Kingdom is developing a new marine propulsion technology that will revolutionize the market. The company’s commercial trajectory was rapidly approaching market entry. Company management understood that North America (N.A.), and the United States in particular, represented the largest geographic market with the highest potential for sales. For this reason, the company engaged LNE Group to provide an impartial assessment of the N.A. marine marketplace to refine the company’s market entry strategy.
Approach
LNE Group worked with the client to identify the complex questions that needed reliable answers. To gain multiple perspectives, LNE Group collected primary and secondary market intelligence. Primary research included directly contacting nearly all of the client’s stakeholders (covering seven distinct stakeholder groups); representing both the supply and demand side of the N.A. marine propulsion industry. Primary research mechanisms included “Voice of the Customer” surveys, interviews, in-person conversations and other correspondence with the stakeholders. Using its federal government relations team and connections in Washington, LNE Group was able to access information the company could not find on its own. Secondary research was obtained through subscription databases.
Result
The study brought an independent perspective to the client’s market entry strategy that challenged assumptions and identified multiple market viewpoints to answer key questions. The market study provided the client with an unbiased perspective that coupled fact-based research together with candid perspectives from key industry insiders (commercial, military, and government market experts, engine manufacturers, suppliers, end users, etc.). The client has begun engaging the industry partners LNE Group identified and attracted. The client is using the study to further refine its U.S. market entry strategy, which is expected to be deployed in 2017.
ExpertiseProcurement & Appropriations Open Innovation & Strategic Partnerships Funding Agency Engagement & Alignment International Market Entry Strategies Market Intelligence Public & Private Sector Business Development
