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Marketing and Promotion of FluidDraw in the US

19/08/2024

Summer Semester 2024 / Festo

EXECUTIVE SUMMARY

This report was developed in cooperation between the Institute of Entrepreneurship and Innovation at Vienna University of Economics and FESTO SE to develop a strategic marketing initiative for promoting FluidDraw in the US market. Despite its strong features and capabilities in designing electro-pneumatic-hydraulic systems, FluidDraw has not fully penetrated the US market, where there is a significant opportunity to capitalize on the growing demand for sophisticated automation solutions.

Goal

The primary goal of this project was to develop a comprehensive marketing and promotion strategy for FluidDraw in the US market. The aim is to strategically position FluidDraw as the top choice for engineering and automation sectors, deepen understanding of market dynamics and customer preferences, and enhance FluidDraw’s market penetration and user base. The approach includes re-evaluating market analyses, defining FluidDraw’s unique selling points, and crafting a targeted marketing plan that uses the right distribution and communication channels to effectively engage targeted customer segments.

Methodology

Our approach combined secondary and primary research methods. We reviewed existing literature and market data to understand industry trends and competitive positioning. Additionally, we conducted interviews with key stakeholders and potential users in the US to gain direct insights into their needs and how FluidDraw can meet them.

Results

The analysis reveals a promising opportunity for FluidDraw in the US market, particularly within sectors that utilize advanced engineering tools. These sectors are highly receptive to innovative software solutions such as FluidDraw. However, awareness among Festo's internal teams, including sales staff, is not yet fully developed, with many employees still not being aware of FluidDraw.

However, FluidDraw uniquely fills a niche in the market by perfecting an intermediate step in the creation of electro-pneumatic-hydraulic schematics. Unlike larger competitors, FluidDraw excels in providing quick and efficient schematic drawing capabilities, which can then be integrated into more complex systems. This allows users to streamline their workflow by quickly generating accurate preliminary designs that can be refined in more advanced CAD tools.

Key recommendations include implementing targeted marketing and educational campaigns to boost internal awareness of FluidDraw’s capabilities. It is suggested to enrich training programs to emphasize FluidDraw's integration features and practical applications, positioning it as a vital tool in engineering workflows. Additionally, promoting internal success stories and showcasing operational efficiencies will help stimulate wider adoption and utilization across the organization, particularly among sales personnel. By highlighting FluidDraw’s unique strengths and its role in complementing larger CAD systems, Festo can effectively enhance its market presence and user adoption in the US.

Cooperation Partner
  • Festo Vertrieb GmbH & Co. KG

Contact Person

Student Team

  • Ondřej List

  • Nicolas Poeck

  • Kristina Nayden

  • David Sebastian

  • Linda Magdalena

Project Manager
  • Caroline Fabian, M.Sc., M.Sc.

  • Shtefi Mladenovska, M.Sc.

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