Market Research Case Study 1
A sealant manufacturer had identified a volume sealant product for the building industry for which they did not have a comparable product. Extensive research was conducted including telephone and face-to-face visits. Liaison with the production and R&D staff on the requirements of the product resulted in an estimate of costs for the finished product.
Through this market research this sector was found to be an extremely competitive market with many low cost importers. The sealant manufacturer was unable to meet the market price nor offer a competitive advantage that would warrant a price premium. Thus, a small monetary outlay for market research resulted in a major saving in terms of capital equipment outlay and the company was instead able to focus their efforts on more profitable product lines.
Market Research Case Study 2
A consumables manufacturer was entering the Semiconductor market with two new products which had been developed by their overseas parent company. Extensive telephone research which contacted all the main players yielded valuable results in terms of market size, competitors and market prices. This ensured the product was correctly positioned and the provision of extensive customer information helped to gain the full co-operation of the sales team who were entering a new market segment.