Make Locks, Ltd., based in Xiamen, China, is one of the leading developers and manufacturers of top security and high quality industrial locks. The company approached our consulting team at Tulane University seeking assistance with penetrating the U.S. security products market. Specifically, Make Locks sought to better understand the competitive landscape and the optimal strategy re: connecting with key channel participants.
Our team began its research by studying recent market and industry analyses performed by consulting organizations with much larger resources. We then reconciled those findings with current macroeconomic trends found in various public databases. Next, we developed an overall theme of our report which would be central to each recommendation, otherwise called a strategy statement. Lastly, we used that overall strategy to tailor tactical level recommendations to fit Make Locks’ needs. Our team then flew to Xiamen, China to make our final presentation.
Make Locks was thrilled with our work. We spent the day touring the facilities, eating local delicacies, and learning about the organizational culture that has fueled so much of their success. Our final presentation lasted around 2 hours, as we tried to speak as slowly and clearly as possible. They had many questions about the U.S. security products market and its largest participants, and generally seemed very eager to undertake our strategic recommendations.
Overall, the project was a huge success, and I look forward to visiting Make Locks again next time I’m in Xiamen.
MBA/JD Candidate 2016