The client wanted to grow their international business in their key markets namely China, India, Russia, Vietnam, and Myanmar. They had set ambitious growth targets for the next 5 years in each of these markets. They wanted our assistance to help them achieve those growth targets.
Market assessment, benchmarking, and strategy development.
The project consisted of 3 key phases: 1. Market assessment - In this phase, we helped the client better understand the lubricant market in each of these countries. 2. Benchmarking and gap analysis - In this phase, we benchmarked client's performance with some of the competitors that grew aggressively from a small base and helped the client understand how they did it and where were the gaps. 3. Strategy and action plan - Based on the analysis done in the first 2 phases, we developed strategic initiatives and a high-level action plan on what needs to be done to achieve their growth targets.
The strategy and action plans were presented to the management board as a result of which, the board approved the increased budget in each of these countries to implement the recommended strategic initiatives.