FACILITATING ENTRY INTO NEW SECTORS BEYOND WIND ENERGY
Formulating go-to-market strategy in power-to-X, energy storage and solar for a wind supply chain player
A leading wind turbine supply chain player wanted to expand into new sectors beyond wind driven by 2025 revenue ambition and margin pressures in the existing wind business. Considering that there could be 20+ potential sectors to expand into, the challenge was to identify the top 2-3 sectors with the highest growth potential for the Client. MEC+ was engaged to support client in identifying most relevant sectors followed by a go-to-market strategy for the sectors.
The MEC+ took a three-step approach to support the Client:
Step 1: Shortlist most relevant sectors until 2025
A List of ~20 sectors was created based on overlap with existing capabilities and competencies of the Client. All the sectors were evaluated on market attractiveness, strategic fitment, competitive openness, and risks to identify top 2-3 most relevant sectors
Step 2: ‘Where to play’ within the sectors
Within the selected sectors, MEC+ identified multiple value chain positions that could be relevant to consider for the Client. These positions were further evaluated on client specific criteria to identify target winning position in the sector.
Step 3: ‘Go-to-market’ strategy
An assessment of ‘make’ vs ‘partner’ vs ‘buy’ strategy was done to identify relevant route-to-market. This was then put together into a go-to-market strategy document with clear action plan, timeline, and milestones. For the positions with ‘buy’ approach, separate work-stream of target identification was initiated.
Out of the 20+ potential sectors, three were shortlisted for expansion. The Client is taking an organic approach in two sectors while M&A is being pursued within the third sector.