International market penetration strategy for solar pumps
Student name: Mr Sidhant Miskeen
Guide: Dr Sapna Narula
Year of completion: 2015
Host Organisation: International Business- Solar Shakti Pumps(I) Limited
Supervisor (Host Organisation): Mr Ankit Sharma
Abstract: Shakti Pumps is an Indian based organization, with the largest producer of stainless steel submersible pumps1 with over 2000 on-roll employees in India and various countries abroad2. Shakti Pumps ventured into the manufacturing of Solar Pumps and presently is the largest manufacturer of Solar Pumps in India. Shakti Pumps has installed over 7000 solar pumps in India and abroad with the world’s largest capacity pump of 40 HP in Yemen3. Since they operate in India and other countries, there are different departments to manage the sale of Solar Pumps viz. Domestic Business and International Business Department respectively. Being a part of the International Business Department, I had to perform an in depth market research of Mexico, Colombia, Venezuela, Guatemala, Peru, Ecuador, Chile, Bolivia, Paraguay, Panama, Costa Rica, El Salvador & Nicaragua, and do a feasibility study of the installation of Solar Pumps and all the nuances involved. The study did not only encompass around the Socio-Political Environment but other factors as well, such as Geographical, Cultural, Regulatory, Economic and International Relations. Apart from the literature study from various sources, it was expected to find out key players/competitors in the market, study their market share and if they had similar products, post that business leads and clientele database had to be formed from which the lead generation and business tasks could take place. If the customer showed interest up to a level of purchasing the Solar Pump, it was then the executive had to travel to the location of commissioning and install the pump. Apart from marketing and generating business for the organization, it was also expected to study the solar pumps in detail, the concept to commissioning, the programming involved, the physical structure erection and various other engineering related parameters.
