JAKARTA, Indonesia, Aug. 24, 2021 /PRNewswire/ -- Equipped with Techking custom-made new type tires, 200 HINO heavy-duty trucks recently came into service for one client in Indonesia. This is the largest order to the Techking Indonesia rep office since its establishment, demonstrating that the localization strategy adopted by Techking and its Indonesia rep office has enhanced client base and recognition in less than one year.
Established in November 2020, Techking Indonesia is the first rep office, a milestone in the execution of localization strategy further to the Techking Australia branch. With advantages in localized technology, distribution chains, and services, Techking is capable to win the favor of more clients. To this end, the Indonesia rep office is supposed to meet the goal of implementing localization closer to consumers and achieving a growth rate of 80% in the first year.
Since its establishment, the rep office has expanded its operation rapidly and implemented a localization strategy based on the Company's Three-lever Business Model. Development managers are responsible for local client demand researches and work with the HQ on tailored R&D; account managers focus on product management and moving down the distribution chain closer to consumers; foreign service engineers target product post-sales services and field services. To local partners, Techking also acts as a sincere collaborator and works closely with them by listening to customers and exploring solutions in the joint efforts.
With the implementation of localization, the Indonesia rep office has dramatically enhanced its market insights, distribution channel planning, product R&D, business development, program operation, and so on, and achieved performance ahead of expectations. The rep office lead Friedrich Wang explained: "The sales revenue in the first six months has already equaled to that in the whole year of 2020. We initially set the growth rate to 80%. Now we adjust to 100% and more ambitiously to 120%."
To guarantee the three-year compound growth rate of 40%, Techking VP Raymond Zhang said: "(The Company) will conduct planning, management and performance review for the Indonesia rep office from four perspectives, i.e. 'base-focused, high quality, sustainable, and risk controlling'. We will also prioritize capability building and provide full support to the Indonesia rep office for the completion of its goal."
SOURCE Techking Tires Limited