Type of Client
Sports Equipment Manufacturing Company
Geography
US, Canada, Europe
Challenge
An east coast, USA-based manufacturer of sports equipment looked to expand its market penetration from the U.S. into Canada and potentially Europe. The company was under the impression that Canadians would prefer to purchase Canadian equipment over USA made products, but wanted a better understanding of the opportunities and any obstacles to entering new markets.
Solution
EMW performed a detailed market analysis on the Canadian market including providing a strategic market entry plan. EMW identified a list of target distributors, the key trade shows to exhibit and a price/cost analysis to meet local competition. EMW completed the study in four weeks instead of the expected eight weeks, which enabled the client to proceed forward with EMW’s full market entry plan ahead of schedule.
Result
The client’s execution of EMW’s plan resulted in six figures worth of new business within the first 12 months. Based on the immediate success in Canada, the client engaged EMW to complete a similar analysis and recommendation as they looked to enter the European Union. EMW discovered a different market and unique needs for the European athletes using this type of sports equipment, and determined that the only feasible opportunity was to develop a similar, but new, product. Considerations including regulatory and a cost-benefit analysis assisted the client in making the best decision as to whether or not to pursue this new market.
Follow-Up Note
In order to expand into the European Union, the product needed to be CE Mark. EMW identified and recommended an Authorized Representative who was very knowledgeable of the client’s product and the client later engaged the company to represent them to the European Union authorities.