Leading Edge was approached by a composite panel manufacturer that sought in-depth market research to deepen their understanding of the construction industry, particularly focusing on composite panel cores and the market’s evolution post-Grenfell tragedy.
Research Objectives: Assessing Market Dynamics and Opportunities
The research aimed to explore various aspects of the market, including the selection criteria for composite panel cores, shifts in purchasing patterns following the Grenfell incident, the potential for product development in the stone wool composite panel segment, and identifying new market sectors for stone wool panels.
Methodology and Data Collection: Engaging with Key Industry Figures
Our team adopted a thorough research approach, utilising ABI data to source relevant contacts in construction projects and sectors. This initiative was pivotal for engaging with key industry players, including architects, large contractors, and small contractors. Through extensive telephone interviews, we looked into their decision-making processes and purchasing behaviours within the construction sector.
Insights and Strategic Planning: Identifying Market Gaps and Opportunities
The research yielded valuable insights into the purchasing behaviors prevalent in the construction industry and uncovered significant opportunities within the stone wool composite panel category. It also revealed untapped market sectors for stone wool panels, providing vital information for the client’s strategic planning.
Conclusion: Leveraging Market Research for Competitive Advantage
This project demonstrates how detailed market research can empower a composite panel manufacturer to gain a comprehensive understanding of their target market. The insights obtained from in-depth interviews and data analysis were instrumental in guiding informed decision-making and effective product positioning in the ever-evolving construction industry. This extensive market analysis not only informed the manufacturer about current trends and demands but also highlighted potential avenues for growth and innovation, positioning them for success in a competitive market landscape.
