Harvard Case - QualityKiosk: Drawing Up a Sales Strategy
"QualityKiosk: Drawing Up a Sales Strategy" Harvard business case study is written by Sreeram Sivaramakrishnan, Anuroop Krishna. It deals with the challenges in the field of International Business. The case study is 15 page(s) long and it was first published on : Dec 15, 2017
At Fern Fort University, we recommend QualityKiosk implement a multi-pronged sales strategy focused on international expansion, leveraging its existing strengths in manufacturing processes and product innovation. This strategy should prioritize emerging markets with high growth potential, utilizing a combination of direct sales, strategic alliances, and global marketing.
2. Background
QualityKiosk, a leading manufacturer of kiosk solutions, faces the challenge of expanding its reach beyond its current domestic market. The company boasts a strong reputation for quality and innovation, but needs to overcome the hurdle of entering new markets with varying cultural and regulatory landscapes. The case study highlights the company's internal debate about the best approach to international expansion, with options ranging from direct investment to partnerships.
The main protagonists in the case are:
- Mr. Jain: The CEO of QualityKiosk, who is passionate about international growth and sees it as crucial for the company's future.
- Mr. Sharma: The head of sales, who is cautious about rapid expansion and prefers a more gradual approach with a focus on established markets.
- Ms. Singh: The marketing manager, who advocates for a strong brand presence and targeted marketing campaigns to attract new customers.
3. Analysis of the Case Study
To analyze QualityKiosk's situation, we can utilize the Porter's Five Forces framework:
- Threat of New Entrants: The kiosk industry is relatively easy to enter, with low barriers to entry. However, QualityKiosk's strong brand and established manufacturing processes provide a competitive advantage.
- Bargaining Power of Buyers: Buyers have moderate bargaining power, as there are multiple kiosk providers. However, QualityKiosk's focus on customization and high-quality products can differentiate it from competitors.
- Bargaining Power of Suppliers: Suppliers have moderate bargaining power, as there are multiple component manufacturers. QualityKiosk can mitigate this risk through long-term contracts and strategic sourcing.
- Threat of Substitute Products: The threat of substitutes is moderate, as other digital communication channels exist. However, kiosks offer unique advantages in specific applications, such as self-service and customer engagement.
- Competitive Rivalry: The kiosk industry is highly competitive, with numerous players vying for market share. QualityKiosk needs to differentiate itself through innovation, product quality, and customer service.
4. Recommendations
QualityKiosk should implement the following sales strategy:
- Target Emerging Markets: Focus on high-growth emerging markets with significant potential for kiosk adoption, such as India, China, and Southeast Asia. These markets offer a large customer base and growing demand for digital solutions.
- Develop a Multi-Channel Approach: Combine direct sales with strategic alliances and global marketing to reach a wider audience.
- Direct Sales: Establish subsidiaries or regional offices in key target markets to build direct customer relationships and provide localized support.
- Strategic Alliances: Partner with local distributors, system integrators, and technology companies to leverage their existing networks and expertise.
- Global Marketing: Implement a targeted marketing strategy that emphasizes the company's brand, product features, and value proposition. Utilize digital marketing channels, trade shows, and industry events to raise awareness and generate leads.
- Prioritize Customization and Localization: Tailor products and services to meet the specific needs and preferences of each target market. This includes language translation, cultural sensitivity, and compliance with local regulations.
- Invest in Training and Development: Provide comprehensive training to sales teams on the company's products, services, and international business practices. This will ensure they are equipped to handle customer inquiries, build relationships, and navigate cultural differences.
- Establish a Robust Supply Chain: Develop a global supply chain that can efficiently and reliably deliver products to customers worldwide. This includes identifying reliable suppliers, establishing logistics networks, and managing inventory levels.
5. Basis of Recommendations
These recommendations are based on the following considerations:
- Core Competencies and Consistency with Mission: QualityKiosk's core competencies in manufacturing processes, product innovation, and customer service are well-suited for international expansion. The strategy aligns with the company's mission to provide high-quality kiosk solutions to a global audience.
- External Customers and Internal Clients: The strategy addresses the needs of both external customers and internal clients. It provides customers with access to innovative and customized solutions, while empowering internal teams with the resources and support they need to succeed.
- Competitors: The strategy aims to differentiate QualityKiosk from competitors by leveraging its strengths in product quality, customization, and emerging market expertise.
- Attractiveness ' Quantitative Measures: The strategy is expected to deliver a positive return on investment (ROI) through increased revenue and market share. The specific financial projections will depend on the chosen markets, entry strategies, and investment levels.
6. Conclusion
By implementing a well-defined and strategically aligned international expansion plan, QualityKiosk can capitalize on the global demand for kiosk solutions and achieve sustainable growth. The company's commitment to innovation, quality, and customer service, combined with a proactive approach to internationalization, will position it for success in the global marketplace.
7. Discussion
Alternative options not selected include:
- Licensing: While licensing could provide access to new markets with minimal investment, it limits control over product quality, branding, and pricing.
- Joint Ventures: Joint ventures can be beneficial for sharing resources and expertise, but they also require careful partner selection and management.
Key risks and assumptions:
- Political and Economic Instability: Emerging markets can be subject to political and economic instability, which can impact business operations and profitability.
- Cultural Differences: Navigating cultural differences in communication, business practices, and consumer preferences can be challenging.
- Competition: The kiosk industry is competitive, and new entrants and existing players may pose a threat to QualityKiosk's market share.
8. Next Steps
QualityKiosk should:
- Conduct a thorough market analysis: Identify specific target markets, assess market size, and analyze competitive landscape.
- Develop a detailed internationalization plan: Outline the company's entry strategy, investment requirements, and timeline for each target market.
- Establish a dedicated international team: Recruit and train personnel with expertise in international business, cross-cultural management, and global marketing.
- Monitor and evaluate progress: Regularly track key performance indicators (KPIs) and adjust the strategy as needed to ensure optimal results.
By taking these steps, QualityKiosk can successfully navigate the complexities of international expansion and achieve its ambitious growth goals.
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Case Description
QualityKiosk Technologies Private Limited (QualityKiosk) was an information technology company providing software application testing and quality assurance services to banks and insurance companies in India. In 2015, QualityKiosk had over 70 per cent penetration in the insurance sector in terms of numbers of customers, and only 30 per cent penetration in the banking sector. Anuroop Krishna, head of QualityKiosk's banking vertical, must put together a coherent sales strategy for 2016-17, and present his recommendations to QualityKiosk's chief executive officer.
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