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Case Studies

Steel Buildings for Agriculture Industry Market Assessment

The client is a leading global steel manufacturer was looking to expand its product portfolio and develop a growth strategy for the agriculture sector.

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Issue

Long a leading player in the steel building market in Vietnam, the client has reached near market saturation for in Vietnam's industrial and residential sectors, as well as facing rising local competition. The client wanted to explore growth potential in the agriculture segment; however, the client was unclear if the addressable market was sufficiently attractive to make the investment.


Approach

Solidiance placed a team of 2 consultants, 1 manager and 1 partner on this project. The team conducted in-depth interviews across the value chain (farm owners, husbandry equipment suppliers, distributors, roll-formers, contractors and government agencies) to gain insights into market trends and key drivers. An in-depth market assessment calculated the addressable market size as well as how existing players were competing. A review of end-user feedback and decision-making process provided key insights to inform the ideal product portfolio and marketing strategy.


Solution

Solidiance found that the majority of steel building share in the agriculture segment came from the husbandry segment where the biggest investors prefer a whole package approach, which means pre-engineer building contractors and equipment suppliers need to align their solution and warranty together before presenting to project owners. Competition understood this early and had to develop a diversified portfolio as well as partnerships among key providers to win big projects. Solidiance worked with the client to draw up different market strategies for each high/medium/low end-users segments with potential existing providers to enter into partnerships with. Also, Solidiance advised the client on different strategies for pricing, regional approach, and distribution network.


Engagement ROI

The client gained a clear market understanding of the agriculture segment as a potential target market. With the thorough insight of competitor's products and pricing, they were able to tailor an attractive offering for the identified addressable market.