Case Study: Breath of Fresh Air (Market Entry Analysis)
Problem
The Product Management team for a filtration manufacturing company knew there was opportunity to grow their business beyond the market they were currently serving. The group had identified the food industry as being the largest untapped opportunity for their steam filtration and sterile air filtration products, but were unfamiliar with how food manufacturers were using filtration systems in this application.
The team needed conduct a thorough market entry analysis, but were having trouble sourcing the perspectives they needed without revealing their strategy and plans to enter this new market segment. In particular, they needed to better understand how sterile air filtration products were being selected and implemented to assess if their product would gain traction in this new market. Without this critical information (i.e. how often these products were purchased and how suppliers were selected), the team was unable to move forward with their go-to-market strategy.
Critical Issues
Go-To-Market Strategy Purchasing Insight and Guidance Anonymity
The Solution
Maven recommended launching a double-blinded Electronic Survey to capture anonymous perspectives from consumer packaged goods logistics and other food manufacturing professionals with direct experience with the purchase of sterile air filtration systems. The Survey, which focused primarily on the selection of and implementation of these systems, revealed consumers overwhelmingly preferred reliable and thorough steam and sterile air filtration systems over their less-expensive alternatives. The Survey results, indicating that target customers’ primary concerns were addressed by the group’s superior sterile air filtration offering, served to solidify the team’s plans to enter this new market. With the candid insights the Survey provided, the group was able to move forward confidently with the next steps in their market development plan.
“Maven provided an easy option to get our research moving forward. We can’t believe how easy it was to get these results!” – Senior Director, Product Strategy
