Harvard Case - Deimos: Expanding to a New Market Using the Value Creation Wheel
"Deimos: Expanding to a New Market Using the Value Creation Wheel" Harvard business case study is written by Vania Fonseca, Luis Filipe Lages, Phillip H. Kim. It deals with the challenges in the field of Entrepreneurship. The case study is 19 page(s) long and it was first published on : Jan 1, 2018
At Fern Fort University, we recommend Deimos pursue a strategic expansion into the European market, leveraging its existing technology and expertise in the field of satellite imagery analysis. This expansion should be approached with a phased strategy, prioritizing market research, strategic partnerships, and a tailored marketing approach to ensure a successful transition into this new market.
2. Background
Deimos is a Spanish company specializing in high-resolution satellite imagery and data analytics. The company has established itself as a leader in the Spanish market, providing services to various sectors including agriculture, environmental monitoring, and urban planning. Deimos is now considering expanding its operations to the European market, seeking to capitalize on the growing demand for geospatial data and analytics across the continent.
The main protagonists of the case study are:
- Miguel ?ngel L?pez, CEO of Deimos, who is leading the company?s expansion strategy.
- The Deimos Management Team, who are responsible for developing and implementing the company?s expansion plans.
- Potential European Partners, who could provide Deimos with access to new markets, technology, and expertise.
3. Analysis of the Case Study
To understand Deimos? expansion potential, we can analyze the situation through the lens of Porter?s Five Forces framework:
- Threat of New Entrants: The market for satellite imagery analysis is relatively mature, with established players like Airbus and Planet Labs. However, the entry barrier is high due to the significant capital investment required in satellite technology and data processing infrastructure.
- Bargaining Power of Buyers: Buyers in this market are diverse, ranging from government agencies to private companies. Deimos? ability to offer customized solutions and high-quality data can give it a competitive edge.
- Bargaining Power of Suppliers: Deimos relies on satellite imagery providers and data processing software vendors. The bargaining power of these suppliers is moderate, as Deimos can diversify its sources and develop its own in-house capabilities.
- Threat of Substitutes: Alternative data sources like aerial photography and drone imagery can provide some competition, but satellite imagery offers unique advantages in terms of coverage and resolution.
- Competitive Rivalry: The market is characterized by intense competition, with established players vying for market share. Deimos needs to differentiate itself through innovation and value-added services.
Value Creation Wheel Analysis:
Deimos can utilize the Value Creation Wheel to identify its key value propositions and how to leverage them in the European market.
- Customer Value: Deimos offers high-resolution satellite imagery and data analytics that provide valuable insights for various sectors. The key customer value proposition lies in the accuracy, reliability, and timeliness of the data, enabling informed decision-making.
- Value Chain: Deimos? value chain includes satellite acquisition, data processing, analysis, and interpretation. The company can enhance its value chain by investing in advanced analytics capabilities, developing specialized software solutions, and building strategic partnerships with data providers and technology companies.
- Value Network: Deimos can expand its value network by forging partnerships with government agencies, research institutions, and private companies in Europe. This will enable the company to access new markets, leverage complementary expertise, and develop joint ventures.
- Value Proposition: Deimos? value proposition should emphasize its ability to provide customized solutions tailored to the specific needs of European customers. This can include developing sector-specific applications, offering data visualization tools, and providing expert consulting services.
4. Recommendations
Deimos should implement a phased approach for entering the European market:
Phase 1: Market Research and Strategic Partnerships (6-12 months)
- Conduct thorough market research: Analyze the European market for satellite imagery and data analytics, identifying key sectors, potential customers, and competitive landscape.
- Identify strategic partners: Seek partnerships with European companies, research institutions, and government agencies to leverage their expertise, distribution channels, and market access.
- Develop tailored solutions: Offer customized solutions based on the specific needs of European customers, including sector-specific applications, data visualization tools, and expert consulting services.
Phase 2: Marketing and Sales (12-24 months)
- Develop a targeted marketing strategy: Focus marketing efforts on key sectors and customer segments, utilizing digital marketing channels, industry events, and targeted outreach programs.
- Build brand awareness: Invest in branding and public relations activities to establish Deimos as a trusted provider of geospatial data and analytics in the European market.
- Establish sales and support operations: Set up a dedicated sales team and customer support infrastructure to cater to the needs of European clients.
Phase 3: Expansion and Growth (24+ months)
- Expand service offerings: Introduce new services and solutions based on the evolving needs of the European market, including advanced analytics, data visualization, and AI-powered solutions.
- Invest in technology: Continue to invest in research and development to enhance data processing capabilities, develop new algorithms, and improve the accuracy and reliability of data analysis.
- Explore potential acquisitions: Consider acquiring European companies with complementary expertise or established market presence to accelerate growth and expand market reach.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core competencies and consistency with mission: Deimos? core competency lies in its expertise in satellite imagery analysis and data processing. Expanding into the European market aligns with the company?s mission to provide valuable geospatial data and insights.
- External customers and internal clients: Deimos? expansion strategy is customer-centric, focusing on meeting the specific needs of European clients across various sectors. This approach also considers the needs of internal clients, such as the sales and marketing teams, by providing them with the resources and support necessary to succeed in the new market.
- Competitors: Deimos needs to differentiate itself from established players in the European market by offering tailored solutions, leveraging its expertise in data analysis, and building strong relationships with key partners.
- Attractiveness - quantitative measures: The European market for satellite imagery and data analytics is expected to grow significantly in the coming years, offering a promising opportunity for Deimos. The company can assess the financial attractiveness of this expansion through market research, financial modeling, and cost-benefit analysis.
Assumptions:
- Deimos has the necessary resources, including financial capital and human capital, to support its expansion strategy.
- The European market is receptive to Deimos? services and willing to embrace the use of satellite imagery and data analytics.
- Deimos can successfully navigate the regulatory landscape and establish a strong presence in the European market.
6. Conclusion
Deimos has a strong foundation for successful expansion into the European market. By adopting a phased approach, focusing on strategic partnerships, and tailoring its offerings to the specific needs of European customers, Deimos can establish itself as a leading provider of geospatial data and analytics in this rapidly growing market.
7. Discussion
Other Alternatives:
- Organic Growth: Deimos could focus on expanding its existing operations in Spain, targeting new customers and sectors within the domestic market. However, this approach may limit growth potential and could lead to increased competition within the Spanish market.
- Acquisition: Deimos could acquire an established European company in the satellite imagery or data analytics sector. This would provide immediate market access and expertise, but it also carries significant risks and financial implications.
Risks and Key Assumptions:
- Market Acceptance: There is a risk that the European market may not be receptive to Deimos? services, leading to slower than anticipated growth.
- Competition: Deimos faces intense competition from established players in the European market, which could impact its market share and profitability.
- Regulatory Environment: Navigating the regulatory landscape in Europe can be complex and time-consuming, potentially delaying Deimos? entry into the market.
Options Grid:
| Option | Advantages | Disadvantages | Risk |
|---|---|---|---|
| Phased Expansion | Gradual entry, minimized risk, opportunity to learn and adapt | Slower growth, potential for missed opportunities | Market acceptance, competition, regulatory hurdles |
| Organic Growth | Lower risk, focus on existing strengths | Limited growth potential, increased competition in Spain | Market saturation, lack of innovation |
| Acquisition | Immediate market access, established expertise | High cost, integration challenges, potential for cultural clashes | Due diligence, integration risks, cultural differences |
8. Next Steps
- Develop a detailed business plan: Outline the key objectives, strategies, and financial projections for Deimos? expansion into the European market.
- Secure funding: Identify and secure the necessary financial resources to support the expansion strategy, including potential investments from venture capital firms or strategic partners.
- Assemble a dedicated team: Recruit and train a team of experienced professionals with expertise in international business, marketing, and sales to support the expansion effort.
- Establish partnerships: Initiate discussions with potential partners in Europe to explore collaboration opportunities and leverage their expertise and market access.
- Develop a marketing plan: Create a comprehensive marketing plan that targets key sectors and customer segments in the European market, utilizing digital marketing, industry events, and targeted outreach programs.
Deimos? expansion into the European market presents a significant opportunity for growth and profitability. By carefully considering its options, mitigating risks, and leveraging its core competencies, Deimos can successfully navigate this new market and achieve its strategic goals.
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Case Description
Mr. Nuno Ávila, General Director at Deimos Engenharia (Deimos), a private Portuguese Aerospace Engineering company and a key player in the European space sector, faced a crucial strategic decision. In the past, Deimos easily secured research grants from their funding sources to conduct path-breaking projects. However, these agencies now require applicants to specify market applications for their projects to qualify. This was an unknown concept for Deimos, a company steeped in cutting-edge scientific research. Ávila's objective was to build a market-driven innovation culture-a difficult prospect in a company that prides itself on its technological advancements. Ávila found himself faced with several options for how to proceed. With the annual board meeting scheduled in six months, he needs to make some decisions soon about what markets to pursue with the company's MyFARM software service. He is unsure about the Board's willingness to adopt a new strategy, so he invites the Value Creation Wheel team to address this challenge. With their help, Ávila prepares a set of recommendations that if successful, will enable Deimos to transform itself from a science- focused company to an international player that makes the perfect bridge between technology and market needs in the space sector.
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