A Marine Product Manufacturer is the award-winning manufacturer of Propspeed, a foul release coating system for metal surfaces below the water line. They approached Katabolt for advice in refining its existing export strategy and achieving market growth goals, with particular focus on the USA.
Katabolt proposed a market validation approach, consisting of in-depth interviews at various levels of the value chain, including distributors, boat yards, captains and boat owners. The Marine Product Manufacturer joined our team for a discovery workshop designed to establish the company’s current market knowledge, draw up a set of market assumptions and refine the plan and parameters for market validation.
The Manufacturer and Katabolt worked together to conduct over 60 in-depth phone-based interviews across the value chain and across the country, including distributors, boat yards, captains, boat owners, commercial operators and associations.
As a result of Katabolt’s market validation campaign, they had a far greater understanding of its customer and how to target its messaging. Katabolt identified areas with low product knowledge and awareness, helping the Manufacturer determine its first target audience. The company was also able to address misconceptions in the marketplace, so that customers could use Propspeed with confidence.
The Marine Product Manufacturer shifted the focus of its export campaign from small boats to performance vessels. Currently the Manufacturer estimate a 10-15% increase in to their existing growth rate as a result of actions taken due to the Katabolt project.
This work was also instrumental in the Manufacturer securing a sizeable grant from Callaghan Innovation, to carry out further research and performance testing in the international market.
“Katabolt exceeded our expectations. They were super-focused all the time and that motivated us to work hard as well – and now we are more focused around our targeting to our customers.”
- Senior Manager, An Award-Winning Marine Product Manufacturer
A New Zealand Food and Beverage Company supplies an extensive range of products to the New Zealand butchery trade and food processors. They have a wide portfolio with over 6000 different products and were already supplying to the Pacific Islands before they contacted Katabolt.
The company approached Katabolt through the Food Innovation Network for advice on developing an export strategy and finding the right partners to ensure export success.
The challenge was to identify the initial target market for export development, which of the company’s 6000 products should be the primary export focus and who the right distributors or in-market partners were by establishing those relationships quickly once the target market had been selected.
Katabolt took the Food and Beverage Company through a systematic process to build the new market. First was a half-day export pathfinder workshop to clarify the vision, capacity and capabilities of the company. Following this workshop the decision was made to investigate opportunities in Singapore, Hong Kong and South Korea.
The Katabolt team then conducted desktop research to identify the key market segments, importers and wholesalers, processors and end users for an easy picture of where the company could provide value.
With the market segment defined, validation of the potential market guided the Food and Beverage Company to focus on Singapore. The in-market validation also helped them refine their offer and identify where they could establish a genuine valuable point of difference in the market.
In a market with different dynamics to New Zealand, once the value of the company’s offer in Singapore was defined, the Katabolt team were able to secure 15 face-to-face, pre-qualified sales meetings where they were able to make targeted pitches of their products to decision-making executives.
Now, seven months later, the Food and Beverage is exporting over thirty product lines to four customers in Singapore and a chain of 25 supermarkets in Singapore, which have confirmed the listing of their retail range.
This company’s experience demonstrates that even in complex and relatively small markets, it is possible to identify valuable export niches in a short time.
“We were told that it was a big risk taking on Singapore, with Katabolt’s help, we took the risk – and now it is a success story we are very happy with. We are now looking at new markets and would definitely use Katabolt again.”
- CEO, A New Zealand Food and Beverage Company