VCW for DEIMOS Engenharia: Identifying the Most Attractive International Market for MyFARM

Applying the Value Creation Wheel to determine the optimal market for an irrigation decision support system.

Which one is the most attractive international market for the service MyFarm?

This project utilizes the Value Creation Wheel (VCW) framework to identify the most attractive international market for MyFARM, an irrigation decision support system developed by DEIMOS Engenharia. The analysis focuses on a structured, stakeholder-driven approach to market selection.

Overview:

DEIMOS Engenharia sought to expand its MyFARM service into a new international market. The team employed the VCW framework to navigate the paradox of choice and identify the most suitable market. The project involved a thorough analysis of potential markets and selection criteria.

Process:

The team followed the five phases of the VCW:

1. Tap (Discover Value): Defined the challenge of identifying the most attractive international market for MyFARM.

2. Induce (Create Value): Generated a list of 193 potential markets and developed 53 global and 24 local filters through interviews, brainstorming, and research.

3. Analyze (Validate Value): Refined and validated the filters using the POKER method, involving key decision-makers and stakeholders.

4. Ground (Capture Value): Applied the filters through a Value Creation Funnel (VCF) to narrow down potential markets. Initially, Brazil was identified, but further analysis revealed the United States as a more attractive market. Local funnels were then used to identify specific regions within the US, ultimately focusing on Kansas and Stevens County.

5. Operate: Defined the business model, market entry strategy, marketing plan, and communication strategy. The team also conducted a 3M analysis (Manpower, Money, Minute).

Key Takeaways:

• Structured Market Selection: The VCW framework provided a structured and dynamic approach to market selection, overcoming the paradox of choice.

• Stakeholder Involvement: Engaging diverse stakeholders throughout the process enhanced the quality of the analysis and ensured buy-in.

• Data-Driven Decisions: The use of filters and VCFs facilitated data-driven decision-making, minimizing reliance on subjective biases.

• Iterative Process: The process was iterative, allowing for adjustments based on new information and insights.

• United States Market: The United States, specifically Kansas and Stevens County, was identified as the most attractive market due to its large-scale irrigated maize production, technological readiness, and favorable market conditions.

• Hybrid Orientation: The project led DEIMOS to adopt a hybrid orientation, balancing technology with market vision.

• New Competencies and Projects: The project fostered new competencies and led to the development of new market-focused projects and strategic partnerships.

Conclusion:

DEIMOS Engenharia's successful application of the VCW framework demonstrated its effectiveness in identifying the most attractive international market for MyFARM. The structured and collaborative approach enabled the company to make informed decisions, leading to a strategic shift towards a more market-oriented vision. The project also highlighted the importance of continuous learning and adaptation in the face of evolving market dynamics.

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