- Industry
- Technology equipment
- Project type
- Market expansion
Project description and objectives
An Eastern European manufacturer of ultrasonic flow meters required assistance in exporting their products to the markets of the UAE, Saudi Arabia and other GCC countries.
They had a substantial track record in Central Asia and expected to leverage that experience while offering their products to potential clients in the GCC.
Accomplishments
The project team's work started with identifying key potential clients.
As the construction boom in the region continued, the team decided to focus on contracting and engineering firms outsourced by large developers for design and implementation of their construction projects.
There were also a number of specialized local and regional equipment suppliers working with construction companies.
One of the ways the project team intended to introduce the client into the market was through building local partnership networks.
In the course of more than 12 months the project team arranged more than 30 offline meetings with potential customers and partners.
The key challenge for the product-market fit was that the local markets in the GCC were dominated by electromagnetic flow meters made in Asia, with lower measurement accuracy and lower price.
Having secured over 10+ major RFPs and two test projects, the company could not get real orders.
Project objectives met
30+ meetings with potential clients and partners, one business visit for company's owners to the UAE, several business meetings in Saudi Arabia and Qatar, 10+ major RFPs.
Success criteria met
It was found that the client's equipment was significantly different from the dominating local standard and, therefore, needed additional certification to qualify for major tenders. The project team's search for clients who accept the equipment without certification did not result in any deals.