Market Entry Strategy / Needs Assessment

Company: A Fortune 500 materials science company

Issue: How much will companies pay for specific improved product performance characteristics? What will each level of the supply chain pay?
A Fortune 100 materials supplier wanted to identify and characterize un-met needs of marine, wind energy and sporting goods industry. They wanted to direct research toward solutions with the highest value and market impact.
 
Lucintel’s Solution: In-depth interviews, Needs Assessment, Strategy Development
Lucintel conducted over 50 in-depth interviews among material suppliers, fabricators and OEMs for various composite applications in above market segments to identify their most pressing improvement needs. Opportunities were analyzed and screened by:

• Market and application
• Type of need (mechanical, thermal, environmental, aesthetic, speed, $ savings)
• Buyer % improvement hurdle
• Tangible impact of attribute
• Price to performance sensitivity

Results: Saved Time & Money. Gained Focus.
The client was able to prioritize the three top composite markets and applications. The company…
Optimized their R&D spend
Addressed needed improvements with their materials and technology
Formulated an overall market entry strategy for the composites industry
Created an approach for the individual markets and applications.
…resulting in years of time and millions of $ savings, allowing the company to confidently focus on executing a well developed plan.

Product Innovation