The willing to grow your business must be on the top of your priorities hierarchy . But what if the local market size is not sufficient enough? How can you increase your revenue if you are working within a high competitive , price-sensitive market?
Deciding on your expansion strategy, and selecting the proper approach that match your organization abilities, and potentials are what needed to overcome the above-mentioned challenges.
In this regard, EDAMA implemented a consulting project named Expansion Strategy and Exporting Plan, for NDT which is a Telecommunication Engineering company with was stablished before 18 years, and has a high market share in Jordan and willing to expand regionally.
The contract with EDAMA lasted a period of (3) Months, from 1st of October ,2020, till the 3rd of December ,2020, and was managed and delivered by Eng. Hani Al Abdallat as a Senior Management Consultant.
The project consisted of multiple phases, in which EDAMA implemented and accomplished the following activities:
- Applying Local Market Research to identify Jordanian market characteristics including market size, growth rate, competition, driving forces, customer segments and demand forecasting
- Specifying the Business Expansion Strategy after evaluating the potential of market penetration, product development, market development, and diversification with pros and cons for each strategy choice
- Applying Regional Market Research across five countries (KSA, Iraq, UAE, Oman, and Egypt) to identify market characteristics including market size, growth rate, competition, driving forces, customer segments and demand forecasting.
- Preparing a Country Report for the five potential exporting market including; investment environment, risk, legal requirements, future potentials, and main nominated partners .
- Designing an Exporting Multicriteria Decision Tool to select the most attractive destination.
- Conducting a gap analysis to identify the area of improvements needed to bridge the gap between the exporting market requirements and the company capacity, quality, staff, skills, structure, systems, culture, and leadership.
Based on the project outputs, the client was able to; specify the main service/product to export, assess the capacity and capabilities readiness for exporting, and the high potential specific exporting market, and it’s special requirements.
NDT management expressed a high satisfaction for the quality of deliverables, depth of analysis and recommendations, and the professional attitude and commitment
In this project, EDAMA as a Management and Business Consultant have proven their capacity and capability to prepare internal and external Market Research, Country Report, and Exporting Plans, and providing the company with the consulting and capacity building programs needed to reach exporting markets.