Case Study: Improving Revenue and Profit in Commercial Electronic Products Market
A $250M engineering and manufacturing company experienced a five-year decline in the revenue and profit from its largest product line while the market grew at double-digit rates each year. The vice presidents of marketing and R&D determined the large differences between industry growth and the company’s decline indicated an opportunity to improve performance if a clearly superior product could be implemented in record time.
How We Did It:
Identified key product performance differentiators through interviews, observations, quantitative and qualitative analysis.
Assessed competitors’ positioning and technical capabilities.
Selected an off-shore partner willing to meet aggressive schedules.
Implemented an array of sales and marketing activities, including training seminars, pricing approaches, cross product line selling improvements.
Reduced product line complexity by 80%.
Coached key leaders on the new product development team.
Increased revenue 17% and gross margin by 1%, despite significant shortage of product and a weak performance by company as a whole.
Enhanced product development effectiveness and efficiency across all departments.
Improved supply chain efficiency.
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