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Case Study: Fortune 100 Laser Product
Challenge:
Fortune 100 company had spent more than $1 million on development of and initial marketing for a new laser welding product. A broader marketing approach was being considered as its existing, one-year-old marketing efforts were not producing desired results.
Solution:
DBS was hired to develop a product marketing plan, which started with a thorough market and product analysis. The study included field interviews with world industry, government and education experts, extensive technical research, and domestic and international competitor analysis. The final 250-page report presented conclusive evidence indicating the product could not be favorably marketed in either North America or Europe/Asia. One major reason was the high liability of human risk associated with the manufacturing process. Recommendations also covered competitor positions, costs and legal issues. Though DBS’ analysis offered unwelcome conclusions, the company agreed with the soundness of its arguments and cancelled planned external marketing efforts.
Results:
The company saved at least $5 million in marketing and production costs in addition to the contingent liability risk of exposing workers to dangerous manufacturing processes. Negative press that a failed operation would have generated was averted. Alternative uses for the laser product were explored and the company restructured the product for specialized internal uses.
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