Leading Edge was tasked by a prominent Tier 1 contractor to evaluate the market opportunity for an innovative construction design product. This product, aimed at Local Authorities, focuses on Modern Methods of Construction (MMC) and modular design, presenting a fresh approach in the sector.
Objectives: Assessing Market Viability and Customer Needs
The primary aim was to gauge the market viability of this new product. Key focuses included understanding customer decision-making processes and priorities in residential property design and maintenance, and identifying potential gaps in the current and future needs of these customers. Additionally, the contractor wanted to determine the reception of their new residential offering and explore necessary modifications to increase its market demand.
Research and Data Collection: Engaging Key Decision-Makers and Conducting In-depth Interviews
The research commenced with identifying senior decision-makers across 25 Local Authorities and Housing Associations. These individuals were crucial for providing informed feedback and opinions. In-depth interviews were then conducted, focusing on strategic use of MMC and specific design elements, such as Passivhaus standards and achieving net-zero operational carbon. This approach ensured a comprehensive understanding of both strategic needs and specific design requirements influential in decision-making.
Findings and Conclusion: Shaping Strategies for Market Introduction
The insights gained offered a clear view of the market landscape and potential areas the new product could address. These findings were pivotal in shaping the client’s marketing and operational strategies for their product launch. Feedback from decision-makers provided a realistic perspective on the product’s market acceptance and highlighted areas for improvement or change to enhance appeal to the target audience. This project underscores the effectiveness of a structured, strategic approach in market analysis and product development, demonstrating how direct engagement with stakeholders and a focus on both strategic and design-specific aspects can inform and guide successful market introductions.
