Client Situation
Our client is a market leader in the Indian aluminium and copper manufacturing industry and is a subsidiary of a leading Indian multinational conglomerate that is majorly engaged in the business of non-ferrous metals, cement, fertilizers, chemicals, IT services and BPO. The client wished to develop an in-depth understanding of market stakeholders and their perceptions of the client's product and service offerings to use it as a source of information for growth strategy formulation.
Cedar’s Approach
The primary objective of this program was to assist the client in strategically increasing its market share in India by executing a Net Promoter Score (NPS) benchmarking study. Cedar's approach was as follows:
- The survey and data collection sample was determined based on the databases provided by the client team. The entire survey was administered anonymously to avoid respondent bias and to ensure easy repeatability in subsequent rounds
- Stakeholder alignment and initial mock interviews were conducted before finalizing the questionnaire with the client
- Cedar conducted primary research interviews with assistance from the client team in the case of certain stakeholders
- The chosen sample was bifurcated across – Northern, Eastern, Western and Southern regions of India
- 66 Key Decision Makers, 23 Influencers & 13 users were interviewed by Cedar. A total of 102 interviews conducted across with respondents across different roles, firm sizes, regional zones and levels of EBIDTA
Outcome
The key outcomes of this program were as follows:
- Execution of the NPS survey, compilation and visualization of responses
- In-depth analysis of promoter and non-promoter insights for the client as well as three other top competitors in the industry to develop a detailed understanding of industry value chain perceptions and competitive comparisons
- Identification of priority segments crucial for the future success of the client
- Derivation of key insights such as:
- Price, payment flexibility, availability and product quality were identified as critical drivers
- The client should capitalize on their consistent product quality and availability to maintain their competitive advantage against their competitors
- The client needed to strengthen their leadership position with improvements in delivery and innovative customer relationship management, including long term engagement models and proactive technical services
- Several detailed insights and actionable recommendations were provided by Cedar for improving market share and pricing perceptions, such as:
- Focus on specialized alumina due to stable demand and higher margins
- Roll out of customer-centric initiatives like product workshops, co-working on product development, and increase interactions of sales and marketing teams through quarterly meets, etc
- Inconsistent supply & delivery delay issues needed to be addressed proactively & customers required advance intimation on price increases (>45-60 days) to plan effectively