Many companies come up with a great ideas that they know will help a particular industry, but then struggle to formulate a plan to access and acquire customers in the new market. Cliintel is comprised of experts with diverse expertise in a wide variety of fields that can be quickly leveraged by our clients to ensure their successful entry into new markets and industries.
A leading innovator in the Radio Frequency Identification (RFID) business had been working with a diverse client base that ranged from aerospace to the medical industry. They had recently identified the retail vertical as a potential new market for their products.
The Business Issue
The primary use of RFID technology is for inventory tracking. The client wanted to broaden their reach by using their software solution to solve issues within the retail space. They had built a solution to track the relationships of products within a store location, providing real‐time data on customer behavior and interaction with the products. The problem was trying to identify a client who would be willing to “beta‐test” to validate the benefits from the solution and provide references.
Cliintel took a broad view of the retail industry, looking for beta‐test candidates with needs that aligned with the primary uses of the RFID technology and who would realize value from the innovation. The industry was examined collectively and objectively to identify specific candidates who prioritized relationship marketing performance metrics, had large supply‐chains and were targeting both internal and external loss‐preventions programs.
Cliintel presented three key retail venues that they felt would benefit most from the client’s solution. Specific requirements for the solution were identified for each venue ‐ ranging from pure inventory tracking to relationship marketing. After quickly conducting extensive market research, Cliintel identified specific companies that needed an inventory solution and possessed the willingness to participate in the beta‐test.
The Project Results
Cliintel’s research enabled the client to complete product development ahead of schedule and successfully enter the retail market by successfully implementing their solution in record time while simultaneously acquiring new, referenceable customers.
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