- The customer desired to comprehend and study the profiles of the top five big competitors in South Africa who were already well-established in the ball-bearing business.
- In addition, client wanted to conduct in-depth industry research covering market size, distribution channel analysis, market trends, competitive landscape, price point, and other parameters as a part of the study.
- The challenge was managing multiple permutations of segmenting the data in order to isolate and interpret critical information due to the size of the field.
PROFILING COMPANIES FOR BALL BEARING INDUSTRY ACROSS SOUTH AFRICA
Client is one of the fastest-growing corporations in the ball
bearing industry, with manufacturing units in over 15 major
cities worldwide.
With aspirations to rapidly expand in emerging economies, they
have gained popularity among startups and creatives.
Problem Statement:
Novus’ Company Profiling Framework
- Our web researchers were tasked with conducting the company profile process of 5 major industrial ball bearing manufacturing firms. Our team also conducted a SWOT analysis and scanned the data for:
- Company's History
- Advanced industrial R&D
- Organizational Structure
- Internal tracking
- Financial data
- Coalitions
- Executive Profiles
- Local position, and status
- Company segmentation was also performed at the regional level, which included information about regional company operations, alliances, joint ventures, business status, and other facts.
- Semi-structured interviews were performed by research professionals with many industry experts from:
- Manufacturing heads of ball bearing industry
- Sales and marketing experts from ball bearing market
- Various ball bearing industry authorities and associations
- Novus Insights aided the brand in considering the following market characteristics:
- End-use Market Perception & Purchase Behavior
- Application & Usage
- Market Opportunity & Future Trends
- Economic Indicators
- Triggers & Barriers
- Market Dynamics
Key Takeaways of Research :
- To maintain the focus on a client-specified plan, weekly meetings with the client were scheduled, ensuring client satisfaction.
- Supported the client in expanding their business, armed with information on their competitors.
- Provided useful industry insight, including the prevalent trends, powerful competitors, market share, and specifics to consider when launching new products and services.
- Also, addressed issues regarding specific market segments, customer preferences, and geographical areas.
