A map company enters new territory
When a premier provider of geographic information and services wanted to expand profitably into new markets, the executive team asked Bain to identify and rank potential growth opportunities. Bain recommended opportunities in adjacent markets and the company moved into two high-impact and profitable adjacencies.
MapCo, a premier provider of geographic information and services, was stable and profitable, but wanted to enter new markets where it could profitably use its current assets. Bain was asked to help MapCo better understand its current consumer position and leverageable capabilities and help the company identify and select various expansion opportunities. MapCo also asked Bain to advise on whether it should grow through an acquisition, joint ventures, licensing or organic development.
Next Approach
The Bain team developed an analytical process and framework to identify, evaluate and develop the most promising opportunities.
Next Recommendations
Bain recommended that MapCo target opportunities with the greatest potential to propel the company's growth: a travel club, data management and Internet-based services.
Next Results
Our analysis helped MapCo identify and focus its energies on two of the most high-impact and profitable initiatives:
- Internet-based travel services
- Travel club
MapCo recently launched these two new initiatives and expects to realize considerable profit growth from these adjacencies.
MapCo obtained an initial round of funding for the Internet initiative and is growing it with the potential to become a distinct business. The Internet site's traffic has grown significantly, and the company expects the site's content and commerce will continue to expand.
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