How a company successfully ventured into online B2B packaging platform and added 200+ packaging suppliers, 100+ Raw material providers and 20+ FMCG players
Background and Challenge
Client’s Background:
- A innovative online B2B marketplace catering to the diverse packaging and material handling industries by making packaging sourcing, distribution, inventory management, and design hassle-free for enterprises. It addresses challenges such as inventory stock out, excess inventory, and obsolescence that are common for packaging enterprises.
Challenges Faced by Client:
- Hindrance with curating Detailed Price Plan: The Client was facing barriers in pitching the right price plan for their platform to cater wide target audience including small, medium and large enterprises. Hence, they contacted Ken Research and Strategy Advisory to identify an optimum pricing model analysis for their platform.
- Difficulties in creating a strategic GTM Study and End User Analysis: The client had limited resources and time period to understand the market entry opportunities and end-user perception, hence they outsourced this activity to Ken Research.
Packaging Industry at Glance:
- India is a major player in the packaging market and contributes ~8.0%-9.0% to the global packaging industry.
- With abundant raw materials are available for packaging chain in the country, Indian packaging industry is well poised and expect a positive growth over the years along with advancement in technologies.
Approach and Recommendations
Phase 1: To evaluate the right Price Plan for Client
- Ken collaborated with its client in identifying a comprehensive price list for type of packaging required basis material, weight and other parameters.
- In-depth and detailed discussions were carried out with the top decision making authorities.
- Price points were identified considering various factors such as online B2B classified potential, current vs future growth sentiments, ideal inventory and more.
- These discussions gave the client possible indication to select a price plan according to their requirements.
Phase 2: Key Analysis of End Users to be catered by the Client’s Platform
- The second phase of work focused on analyzing the end user perception for the client’s platform.
- Deep Dive End User Analysis was done to understand the various qualitative and quantitative parameters of the end users evaluating the ideal mindset of the customers in the country.
- The client was able to get clarity on end user based analysis with eminent and noteworthy Primary Research by Ken Research in short span of time duration.
Phase 3: Strategic GTM with Quality Recommendations for Market Opportunities
- After identifying and analyzing the pricing and end user analysis, Ken provided strategic GTM approach to the client for their online multi-vendor platform to tap into the B2B marketplace.
- Ken Research assisted client on the performance metrics, evaluation parameters, strategy roadmap, phase wise plan, due diligence for technology and marketing companies for partnership purposes
- Key recommendations and success factors highlighting the operations to be consider were also proposed that helped the client to successfully evaluate the price plan and target opportunity in the market.
Result and Conclusion
Sound Evaluation on Price Plan and End User Analysis
Ken Research curated a detailed pricing plan helped the client saves ample of time along with constructive analysis of end users perception over the market.
Ideal GTM Strategy
Client was able to target the ideal strategy roadmap and a phase wise plan with key recommendations pitched across by Ken Research
Key to Repeat Business
The client has successfully launched their platform and has also provided next set of assignment to help them identify banks and NBFC which they can collaborate for trade financing purposes.
Business Impact
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200+
Packaging suppliers Added
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100+
Raw material providers added
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20+
FMCG players added