We seek leadership positions in clearly defined global niches where our competencies in Key Account Management and Engineering Advantage can be leveraged to maximum effect.
The core competencies common to all of IMI’s businesses are Key Account Management and Engineering Advantage. IMI is increasing its investment in these two key areas to underpin the Group’s aspirations of accelerating top line growth and delivering further margin improvement.
Essential to our long term success is understanding the characteristics of the markets we aim to operate in. IMI's key market niches share certain characteristics:
- Niche global markets of no more than $3-4 billion
- Market leading positions, typically with market share of over 25%
- Blue-chip customers with a clear appetite for innovative, differentiated and customised solutions
- Significant aftermarket.
Key Account Management
Highly talented, customer-focused entrepreneurial-minded teams of people in IMI add long-term value for both customers and ourselves. Developing these skills, understanding the drivers of our customers’ businesses, and our own, and ensuring that we work with the best customer partners, are critical components of our business model. Recognising where value can be added for both parties is a fundamental part of our approach. A centrally-based ‘KAM Academy’ helps train our people and ensure best practice is shared across the Group.
We invest in techniques that improve market understanding and customer insight. We then apply our acquired knowledge and our engineering capabilities to the issues faced by our customers. The result is relevant, bespoke technologies and new products that create real value and strengthen our customer relationships. This core capability effectively engineers solutions that provide advantages for our customers and we refer to this as Engineering Advantage.