A mid-market private equity owned industrial manufacturing firm with was seeking to rapidly enter a highly regulated subset of the emission control market without having the internal resources to effectively evaluate, develop and launch a new product. CP was retained to evaluate the potential product launch by sizing the market, assess the competitive landscape, timeline required to participate in the market and define the economic opportunity of the new product.
COSGROVE PARTNERS ACTION
CP completed a comprehensive market assessment validating the potential of the new product offering and went on to develop and manage the product development and launch of the new solution.
The approach specifically included:
- Validating the market receptivity of the new solution
- Facilitated meetings with the EPA and California Air Resource Board
- Evaluated competitive products to define differentiation strategy
- Developed quantifiable differentiation for the new GT Exhaust solution
- Developed product launch plan, managed development cycle
- Developed comprehensive marketing launch
- Defined and implemented channel strategy
The new product launch generated accelerated sales growth and margin improvement contributions in less than 12 months.