Evaluating Market Opportunities for New Technology in an Uncharted Market – Grundfos Case Study

Posted by Michael Lindberg on Oct 20, 2015 8:39:16 AM

Grundfos case

 

Introducing new technology in markets new to your company is an optimal way of diversifying company’s product portfolio. However, venturing into an uncharted territory outside of your current market comes with numerous challenges. Grundfos was considering a move to a new market with a novel technology and came to Lindberg International with the following question:

 

Is there a market for a new technology that allows remote monitoring and remote reading of irrigation systems?

 

Such a technology would fit nicely into the Grundfos portfolio and thus open up new business opportunities. But the US agricultural sector that Grundfos initially had in mind as a pilot market was, in every way, uncharted territory for the company. Consequently, there was a need for reliable and useful insight into the market and Grundfos decided to approach to Lindberg International.

 

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