Market Sizing Mission Portfolio: Security Products in the European Union
A startup security products manufacturer wanted to understand the market for counterfeit product tracking systems in the European (EU) market. It faced a series of entrenched competitors with intimidating market reach and brand presence. This startup’s investors actively questions whether they should attempt to enter the Euro Zone market, or whether they should remain focused on the US market opportunity.
Aurora GPS conducted a full-scale analysis of the Euro Zone market for counterfeit products using a combination of secondary research as well as interviews by on-the-ground analysts. The startup learned that although the entrenched competition could track certain categories quite well (luxury goods), it failed to have an effective answer for electronics counterfeiting – the largest growth area.
Using this information, the startup was able to adjust not only its entry strategy for the European market, but also focus product development efforts on the specific needs of electronics manufacturers with a clear need to stamp out counterfeit products that could harm the safety and reputation of their products. Investors rewarded the approach with additional funding to explore and enter the European market.