COPENHAGEN â€“ Milestone Systems, the world market leader in the development of open platform IP video surveillance software, has received the 2006 Frost & Sullivan Brand Development Strategy Leadership Award. In the course of conducting extensive research in the security market over the past year, Frost & SullivanÂ heard a positive cross-industry â€˜buzzâ€™ about Milestone Systems, and carried out due diligence to determine the reasons.
The Frost & Sullivan Award for Brand Development Strategy Leadership is presented to the company that has demonstrated excellence in brand development within the industry.Â It recognizes a companyâ€™s ability to best perceive consumer needs and develop marketing strategies that elevate the brandâ€™s quality, image and overall value perception.Â Through a combination of unique product quality, communication, distribution and packaging strategies, Milestone Systems has demonstrated superior market growth skills.
"Milestone Systems is widely recognized among the industry participants as a leading player in the open platform IP video surveillance software market.Â Its core competency in delivering solutions that meet dynamic needs of the market and its effective channel interaction programs make it a worthy recipient of the 2006 Frost & Sullivan Brand Development Strategy Leadership Award,â€ says Frost & Sullivan research analyst Sathya Durga.
To select Milestone as the recipient, Frost & Sullivan tracked all the major players in the security industry, conducting interviews with customers and suppliers, doing hundreds of hours of extensive technology research, using pre-determined measurement criteria.Â Brand development efforts are analyzed based on the number of market participants, competing brands, commitment to the brand, and its recognition among peers and customers.Â
Milestone Systems has excelled based on the following criteria: - Market penetration and market share growth in existing market segments - Development of unique brand strategies - Competitor recognition and value of brand - Participation in industry trade groups with the goal of expanding market potential - Establishment of programs that allow its customers to grow - Increases in customer loyalty
Milestone Systems has seen very healthy revenue growth rates of 50-60% over the last several years.Â The most significant factor contributing to this growth is the companyâ€™s well-established channel network. Milestone operates in 55 countries and has an ever-increasing number of installations with market penetration of more than 10,000 customers.Â It is significant that Milestone has been profitable since inception and growing organically, independent of venture capital investments or other controlling interests.Â Frost & Sullivan also notes that Milestoneâ€™s effective marketing strategies include reaching participants through awareness, education, and channel interaction programs that aid growth.