Market Assessment for Thailand
How we help companies find assess foreign markets: an Australian-Thai case in the logistics and packing industry.
Industry: Logistics and Packaging
- Large Australian company with global operations.
- This project focused on Thailand as the client wanted to enter or expand its business in key Asian markets.
- This Project was completed using a combination of targeted customer and expert interviews, secondary research, and analysis by the engagement team.
- With respect to customer and expert interviews: to comply with confidentiality rules and regulations, the interviewers had experts respond to externally sourced data and describe qualitatively the strategies or characteristics of various industry players.
- Where exact data was not readily available, the team developed estimation models (e.g., top-down and/or bottom-up) and further validated these via third party sources.
- Formal update meetings plus more frequent informal communication with the client enabled effective feedback to ensure outcomes met and exceeded client expectations.
Market overview, with details of size and growth including a 5-year forecast, identification and forecasting of key market drivers, and detailed breakdown of market characteristics across 14 dimensions e.g. standard sizes and materials of pallets; quality grade/durability types present in the market; customer sourcing decision making criteria and process; factors considered for supplier selection.
Customer segmentation, by industry, in the Thai market and for client’s customers and prospects; segment prioritization based on growth and share of existing pallet stock; segment affinity for specific pallet types.
Sales approaches and issues: identification of 6 main approaches and methods within these; identification and elaboration of 4 key untapped business opportunities in the Thai market; analysis of 6 key market or client-specific issues, effects and potential solutions.
Manufacturers/competitors and indicative pricing: analysis of competitive landscape; information on market price ranges for various quality-grade pallet types for purchase and rental; additional data on suppliers’ minimum order quantity and other terms and conditions.
Revenue opportunity: estimation of potential revenue available to the client factoring in competitive positioning, market pricing, stock levels, etc.
Customers: list of 38 key customers/prospects by industry segment with profiles covering potential for purchase; current usage of pallets by type; additional details e.g. who they purchase from, preference for rent vs buy or intended changes in the future, budget for upgrading from timber to plastic pallets, etc.