SITUATION: The Company was well-positioned and held major market share in the pouring of concrete for high-rise buildings. Their technology allowed them to pour with no interruptions, a requisite for that market. As that market segment collapsed, the company was in disarray with high expenses.
SOLUTION: After long and intensive planning sessions, it was decided that the company would pursue smaller, in dollars, but larger in size markets. This required much more extensive marketing planning and the design and implementation of a sales plan as they did not have to do so before the engagement; but it took advantage of their technology to be able to meet demand with a limited time table.
RESULTS: The company was able to maintain its sales volume, albeit, with lower margins and was able to maintain full employment. After the high-rise market recovered, the company now had market penetration into two different markets which accelerated their growth.