How a logistics provider understood the market attractiveness and increase the market share by 5%
Background and Challenge
- The client is one of the leading automotive dealer for Toyota and Lexus cars in Kuwait. They were looking to understand competition analysis for vehicle leasing and Rental Market in Kuwait with respect to number and type of vehicle leased in Kuwait.
Challenges Faced by Client:
- Barriers in accessing the Competitors Performance: The Client recognized difficulties in assessing the competition scenario of the vehicle leasing market. Hence, Ken Research was engaged by the client to undertake competition assessment for major players operating in Kuwait.
- Required assistance in market assessment: Ken Research was engaged by the client to undertake the market assessment for Vehicle Leasing Market coupled with understanding the competition in terms of number and type of vehicle leased and rented in Kuwait.
Vehicle Leasing Industry at Glance:
- The rapid-paced urbanization and the increased number of smart cities are expected to push the market for automotive leasing services in Kuwait.
- With the emergence of new big players in the market like the Automak, Aayan Auto etc, a variety of option is available for the people to choose from at a high discounted price making leasing an attractive option will lead to the growth of leasing vehicle in Kuwait.
Approach and Recommendations
Phase 1: To identify top players In the Market
- Ken collaborated with its client in curating the list of major players operating in the vehicle leasing market in Kuwait.
- Ken Research then approached to management of these companies to assess the current market framework, business potential, customer behavior and future growth in the sector space
- These discussions gave the client possible opportunity windows to know-how of the Vehicle Leasing Industry.
Phase 2: Market assessment and analysis
- The second phase of work focused on;
- Market Assessment for Vehicle Leasing Market in number and type of vehicle leased, rent and limousine services in Kuwait.
- Competition assessment of the top Vehicle Dealers, Rental companies and leasing companies in Kuwait.
- End User Analysis for Vehicle Leasing Market with respect to Multiple Industries like Logistics and Transportation.
- This helped the Client to assess the market and see through the financial and operational benchmarking of players in the Vehicle leasing Market with eminent and noteworthy Primary Research by Ken Research in short span of time duration.
Phase 3: Conclusion and Recommendations
- After identifying and analyzing the competitive KPIs across the market, Ken Research also provided the market across various segmentations and parameters including; Market Share of Major Leasers and Dealers, Pricing Analysis for Vehicle Leasing and Rental Market, Strengths and Weaknesses of Major Players, Challenges and Bottle Necks, Growth Enablers of the market, Decision Making Parameters to Shortlist Car Leasing and Rental Company, and more.
- With quality recommendations and success factors, Ken Research has provided a clear road map to the Client in order for efficient growth.
Result and Conclusion
Constructive Market Assessment
The competition specific market assessment will enable the Client to substantially develop their understanding about Vehicle Leasing Market of Kuwait.
Holistic Approach driven Competition Benchmarking
The client was well able to assess the competition scenario with operational and financial benchmarking in the market and formulate strategies on how they can penetrate in this space.
Roadmap to growth and efficiency
The client can now take informed decisions as the deliverable covered detailed recommendations with better understanding towards market penetration strategies, and best practices used by other competitors.
Increase in Market Share