Shortened Time-To-Market in Priority Growth Market
Positec is a manufacturing company that specializes in the production of power tools and lawn and garden equipment.
Founded in 1994, Positec’s corporate headquarters are located in Suzhou, China, and the head of its North American division is located in Charlotte, North Carolina.
Positec is known for its production of the Rockwell Tools and WORX brands.
- Industry: Construction & Power Tools.
- Positec’s Business Goals: Develop its local sales channels in a new priority market – Nigeria.
- Results: Established commercial relationships with credible distributors and resellers for its portfolio of products in Nigeria.
Positec’s Automotive segment was looking to expand its business presence across Africa and entry into the Nigerian market, Africa’s largest economy, was a top priority.
Looking for a diligent and low-risk approach that avoids unnecessary mistakes as they entered a new market, Positec chose kpakpakpa to guide its entry and expansion into Nigeria’s power tool industry.
KPA arranged a customized business entry and expansion solution that involved a two-step market research and business connection process. The solution that was implemented to meet Positec’s goals provided the company with:
- A Total-Addressable-Market analysis for the construction and power tools industry.
- Competitive landscape analysis and market trend prediction to guide growth strategy and expectations.
- Pricing research to understand competitive pricing and assist with pricing strategies in a price-sensitive market.
- Regulatory overview and possible barriers to entry.
- Shortlist of vetted distributors and resellers for partnership.
- Assistance with business visa requirements to visit Lagos for a week.
- Clearly organized and scheduled face-to-face meetings with their ideal business partners during visit to Lagos.
- Follow-up with selected local partners that had options to choose from the various offerings from Positec’s tools portfolio.
During the entire project, KPA’s dedicated client engagement manager provided strategic advice and actionable insights for Positec’s team to act on as they built their market-entry strategy and stay in touch with their new local business contacts.
Outcome – Shortened Time-To-Market in Priority Growth Market
- Quick Approach To Build Out Local Sales Channels
Positec reduced its time to reach its potential customer base by having a targeted approach to knowing, shortlisting, and vetting the right distributors for its product portfolio. The business approach that was guided by the extensive local knowledge and market research carried out by our business development representatives allowed Positec to meets its goal of initiating growth in one of its most prioritized growth markets in Africa.