Plastics: Competitive Intelligence & Growth Planning
What are the growth markets for my products and where to focus?
The client wished to assess the market size for a particular product, evaluate the business practices & market share of key competition and understand state-level growth drivers and restrains for the product market
A team of analysts undertook primary research approach to investigate entire value chain – the end users, suppliers, channel partners and influencers in states of interest.
- Product types, specifications and alternatives used for every application
- Annual requirement and source and method of product supply
- Product selection criteria’s and reasons to select particular brand
- Key suppliers in the state, fast moving product range & product packing’s, key applications driving the business and Supplier selling practices
Continue deeper penetration into the market by additional product & packaging, incentivising dealers further and do a state-level customised advertisement for brand connect & visibility.
The outcome of market research study was an eye-opener for the client as their internal marketing and sales team had under-estimated the market size. This made them re-consider the strategy for the division to maximise the opportunity and increase revenue.