Client Challenge
One of the world’s leading manufacturers of electronic bill acceptors, coin mechanisms and unattended transaction systems had not experienced success in India. They approached us just after being acquired by a private equity firm. Top management was eager to find large new markets, and the head of global strategic marketing commissioned a three-phase engagement with Amritt to determine strategy and tactics for success in India’s currency recognition market and ecosystem.
Amritt-Client Process
Phase One – we researched and answered key questions regarding:
- Regulatory factors (around currency printing, fraud, sizing, and dealing with degraded currency)
- OEM access to national and Asian markets
- Identification of the top six low-hanging opportunities
- A plan to sell 40,000 units per year by year 4
- Mapping of domestic and global competitors operating locally or planning to enter India
Phase Two – included detailed market mapping and segmentation across vertical applications (such as utilities, telecommunications, transportation, retail, banking, etc.) and channels such as direct sales, OEM sales, national and vertical distributors.
Phase Three – included a tactical recommendation to hire local salespeople and had final recommendations on channel partners.
Impact
Client’s top management team accepted our recommendations at every stage. At the conclusion of Phase Three, Amritt received a glowing testimonial from our executive sponsor.
