Situation

A leading packaging manufacturer based in Ludhiana, Punjab, with over 60 years of experience in producing mono cartons and printed cartons for FMCG, Personal Care, and pharmaceutical sectors, sought to expand its client base. Despite a stellar reputation, the company faced challenges in identifying and engaging potential clients with high-quality packaging needs. With a focus on fostering long-term partnerships, the client aimed to target companies with annual packaging requirements of INR 1.25–1.5 crores and a turnover exceeding INR 25 crores within a 300 km radius of its operations.

Complication

The client lacked a robust mechanism to identify, validate, and engage with potential prospects. Key issues included:

• Data Gaps: No structured database of potential clients within the target geography.
• Market Complexity: The need to address diverse requirements across FMCG, Personal Care, and Pharmaceutical sectors, including private-label manufacturers and contract manufacturers.
• Validation Challenges: Difficulty in verifying packaging needs, financial stability, and operational capabilities of potential prospects.

Question

How can the packaging manufacturer effectively identify, validate, and engage with 100 potential companies within a 300 km radius, ensuring alignment with its product offerings and business objectives?

Answer

Ken Research employed a comprehensive, three-phased approach to resolve the client’s challenges:

Phase 1: Design

Ken Research initiated the project with:

• Consultation & Scoping: Conducted detailed discussions to understand the client’s objectives, product offerings, and target market.
• Framework Development: Designed a robust data collection framework to capture key metrics such as packaging volume, turnover, and contract manufacturing engagement.

Phase 2: Analysis

A data-driven strategy was implemented to identify and validate potential clients:

1. Database Development:

• Conducted extensive web scraping and data aggregation, generating an initial list of 500 companies within the defined geography.
• Narrowed down the list based on packaging needs (INR 1.25–1.5 crores annually) and turnover (above INR 25 crores).

2. Field Mapping and Validation:

• Conducted door-to-door surveys to refine the database, focusing on:

Packaging needs and customization preferences.

Financial stability and operational capabilities.

• Screened 150 companies through telephonic interviews and field visits, finalizing 100 high-potential prospects.

Phase 3: Delivery

Ken Research provided actionable insights and recommendations:

• Final Database:
  • A curated list of 100 validated companies across FMCG, Personal Care, and Pharmaceutical sectors.
  • Key statistics:
    • 40% of the prospects were private-label manufacturers.
    • 35% engaged in contract manufacturing.
    • 25% were established brands seeking premium packaging solutions.
• Impactful Findings:
  • Identified a 10% gap in current market penetration for high-quality packaging in the region.
  • Highlighted emerging opportunities in eco-friendly and recyclable packaging trends.
• Comprehensive Report:
  • Delivered a detailed report with insights on client-specific packaging needs, market trends, and engagement strategies.

Results

Ken Research’s strategic intervention enabled the client to:

• Achieve a 25% increase in client engagement within the first six months.
• Expand its market presence by targeting three new sectors, including Consumer Appliances and Hardware.
• Strengthen its client acquisition process with a validated database of high-potential prospects, ensuring alignment with business goals.

Conclusion

Ken Research’s systematic approach and in-depth market analysis empowered the client to address data gaps, streamline client validation, and tap into untapped market segments. With actionable insights and a targeted strategy, the client is now poised for sustained growth and market leadership in the packaging industry.