An award-winning Marine Product Manufacturer (MPM) approached Katabolt for advice in refining its existing export strategy to achieve their market growth goals, with particular focus in USA.
The Manufacturer’s main product is Propspeed, a foul-release coating system, formulated to prevent marine growth from bonding to metal surfaces below the waterline.
Katabolt’s team understood that to move forward, MPM required a greater pool of knowledge to dip into in order to come up with an effective exporting strategy, as MPM’s greatest challenge was their lack of understanding of what is required to succeed in the US marine product market.
As a result, Katabolt began with a Discovery Workshop, designed to establish the company’s current market knowledge and to help Katabolt draw up a set of market assumptions to help refine the plan and parameters for the next stage -Market validation.
The next step included Katabolt’s team conducting over 60 in-depth phone-based interviews across the value chain and across the country, with distributors, boat yards, captains, boat owners, commercial operators and associations.
As a result, The Marine Product Manufacturer came out with a deep understanding of its customer base and how to effectively target its messaging, this was done by identifying areas with low product knowledge and awareness. MPM were able to effectively address misconceptions in the marketplace, so that customers could use Propspeed with confidence.
As a result, The Marine Product Manufacturer shifted the focus of its export campaign from small boats to performance vessels.
Currently, the Manufacturer estimates a 10-15% increase to their existing growth rate as a result of actions taken due to the Katabolt project.
Katabolt’s 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