Understand the potential of new premium product in coated steel market
Our client, a reputable company that sells product from coated steel. As the competition was increasing, they would like to use more advance technology, and shift the product to be more premium. Hence, they needed to know the potential of this new product.
- We invited the user of this category which were home owners and applicators to be the respondents
- First we did Focus Group Discussion (FGD-qualitative research) to dig dive respondent’s purchase process, and ask their opinion toward new current product and several new product concept.
- After we grasp respondent point of view from the FGD, we quantify the answer by doing Face to face interview (quantitative research). In the quantitative part, we also did pricing study to see ideal price for the new product.
- This research provide comprehensive analysis from how customer choose current products, their opinion toward the concept of the new product, also the ideal price of the new product in their mind.
- By using the result of new product concept and price preference, we created market feasibility
From this research, our client can understand there were different potential and needs between home owners and applicators in choosing the new product, therefore the communication approach should be different.
So, let’s have a chat!
Your concern is the most important for us.