Elcowire - An industry analysis and market positioning in Sustainable Copper Solutions

Published: 2024-03-08

Background

Elcowire, which excels at producing low-carbon copper, faced the challenge of maximizing its market value in sustainable copper. Their clients showed difficulty in justifying the higher cost of sustainable copper, and Elcowire needed to strategically position itself to increase revenue.

Solution

Lunicore convened a consulting team to help Elcowire navigate the challenge. Through a structured five-step process, including internal and external kick-off meetings, industry analysis, and a deep dive into the sustainability strategies of similar companies, the team created a detailed plan to understand and meet the challenge.

The team conducted a customer survey to understand customers' views on sustainability and their willingness to pay for sustainable materials. Benchmarking against other companies in sustainable metal production provided further insights and identified best practices for marketing and communication.

Result

The consulting team delivered a comprehensive report with insights and recommendations for Elcowire. The team identified key areas, including the varying maturity of clients 's sustainability focus and the need for greater transparency in environmental impact reporting.

To respond to these insights, strategic actions were recommended. To strengthen the brand, sustainability-oriented events and increased social media presence were suggested. In addition, the need to develop and communicate sustainability efforts more clearly with certifications and increased transparency in scope 1, 2 and 3 emissions was emphasized.

 

Key takeaways

Insights from the customer survey and benchmarking showed varying degrees of maturity and increasing demand for sustainable materials. Clear disclosure of environmental impact and comparability between products were highlighted as important for customers. Transport was emphasized as an important aspect for lower emissions and higher acceptance.

The conclusion was that the sustainable part of the copper industry is challenging but demand is expected to increase over time. Customers should focus on strengthening their sustainability efforts, involving strategic partnerships and communicating their message through different channels.

Recommendations

Sustainability-focused events: Strengthen Elcowire's sustainable brand among clients and potential clients through events and initiatives.

Activate social media: Use social media to reach both existing clients and their clients, communicate the importance of sustainable copper and raise awareness.

Developing sustainability efforts: Clearer disclosure of environmental impacts in scope 1, 2 and 3 and certifications will be crucial to meet customer demands and increase acceptance of sustainable copper.

Strategic partnerships: seek partnerships with other companies facing similar challenges to create awareness of sustainable copper and increase demand.

The project resulted in a comprehensive understanding of Elcowire's market position and concrete actions to maximize the company's potential in sustainable copper.

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