Business Turnaround Consulting Service in China
A Business Turnaround Consulting Service in China consulting service provides adapted and data-based solutions to firms in need of a re-orientation of their resources and efforts. Daxue Consulting has developed a set of close-to-market methodologies that identify new market opportunities in China, which fit the ambitions and available resources of its clients. Daxue Consulting also works with growing companies, assisting them with various challenges from market shift anticipation to internal re-organization and deciding new ambitious objectives.
Business Turnaround in China: Daxue Consulting’s Expertise
Identifying the need for a complete transformation and then implementing the necessary changes can pose distinct challenges for enterprises. These include defining a clear vision on how to improve the business based on the client’s current and future core competitiveness and how it is adapted to its various strategic segments. Indeed, Daxue is working closely with its clients in order to create customized and detailed strategies. Workshops with the client’s team – where Daxue’s consultants spend one full day interviewing and gathering information with the client’s key members – is, for instance, a crucial part of the process.
It provides data-collection methods for auditing the client’s brand performance and the market situation. Daxue also run benchmarks to identify their clients’ competitors’ working hypotheses and innovative concepts for consumer engagement. Our qualitative research provides a better understanding of the potential of our clients; Finally, Daxue’s quantitative surveys determine and quantify the specific segments of consumers where the client can be a leader.
Based on reliable data obtained using these methodologies, Daxue Consulting will provide an action portfolio that could include:
- Organizational structure recommendation to optimize the use of available resources
- Marketing activation recommendation to optimize your market share in each strategic segment identified
- Distribution network recommendation to optimize the conversion in each strategic segment identified
- Range of offer recommendation to optimize the relevancy of the value proposition
- Financial recommendation to optimize your cash flow and profitability results
Finally, Daxue Consulting considers it essential to provide a follow-up solution to support the clients’ operational setup and assess the efficiency of the strategy implemented. We work with your team to design a monitoring plan including tailored KPIs and regular data collection. This follow-up plan will allow our team to provide strategic adjustments related to any market situation evolution and the efficiency of your operational actions.
Daxue Consulting’s Expertise
Daxue Consulting’s recent engagements have varied in size and complexity from mid-market to large cross-border situations. Our team has advised several businesses to restructure their organizations or adapt their Marketing activation plan and has ensured follow-up plans for the operational setup, including relevant strategic adjustments that created continuous growth of market shares.
Case for Business Turnaround
Our client was a European clothing company looking to boost their sales after several years of slight deceleration. The brand was potentially in need of re-orientating its marketing and branding to evolve its old-fashioned image in order to attract more Chinese millennial consumers. Lacking information and insights on the market situation, the brand contacted Daxue Consulting.
Daxue Consulting designed a 4-step research project to answer the brand’s desire to re-stimulate business turnover
- Audit of the situation: to identify where the brand had potential improvement and re-orientation need. It included distribution screening (data-collection through Store-Checks in China), brand image and awareness (data-collection through 800 questionnaires administrated in front of stores) and positioning in its competitive frame (through Benchmark).
- Consumer research: to identify, define and quantify the various strategic segments of consumers where the brand can focus its marketing effort (data-collection through consumer survey and 4 focus groups).
- Marketing activation portfolio: to provide the client with strategic recommendations to re-orientate their marketing efforts and resources toward the segment of consumers identified as strategic. Our deliverable service includes a portfolio of actions to operate through 3 scenarios – main scenario, most favorable scenario, and market-changing scenario.
- Monitoring plan: to provide, after the kick-off of the operational setup by the client, a quarterly follow-up to evaluate the branding performance after the first marketing action (data-collection through Focus Groups with each targeted segment) and to collect KPIs as determined at the end of the step 3 in a work document delivered by our team to the client.
This business turnover 4-step process led the client to significantly change the structure of its marketing actions and optimize its existing resources and assets. KPIs showed an increase of nearly 30% of their performances on social media – close to 50% when it comes to their strategic target – and a considerable increase of their sales.