A trade association dedicated to promoting concrete commissioned Leading Edge to undertake a comprehensive market research project. The objective was to track the market share of concrete against competing materials across a range of sectors and building elements, essential for understanding its stance in the competitive construction materials market.
Research Objectives and Extensive Data Collection
The primary goal was to meticulously monitor the market share of concrete in the construction industry, a key indicator of its competitive position. Over a span of five years, annual interviews were conducted with 1,400 industry professionals, including contractors, architects, and government representatives. This extensive data collection process was crucial in providing a detailed and longitudinal view of concrete’s market dynamics.
Methodology: Quarterly Reporting and Sophisticated Data Analysis
The research approach included quarterly reporting to analyse trends and changes in the market share of concrete. This ongoing assessment offered continuous insights into market dynamics. Additionally, a sophisticated model was developed to segment and calculate concrete’s market share by sector (such as education, offices, residential) and building element (including walls, foundations, roof structures). This method allowed for detailed and accurate market insights.
Impact on Strategy Development and Market Adaptation
The research findings were instrumental in enabling strategic tracking and measuring the impact of the trade association’s initiatives. It identified areas where concrete’s market share was declining, guiding strategic resource allocation to address these challenges. Additionally, the study provided insights into new building techniques and market trends, particularly their impact on concrete usage, helping the client adapt to emerging trends and technologies.
Conclusion: Informing Industry Decision-Making Through Strategic Research
This research undertaken demonstrates the importance of detailed and strategic market research in the construction industry. The insights gained played a critical role in guiding informed decision-making, identifying areas for improvement, and adapting to industry trends, ultimately helping the trade association to strategically position concrete in the competitive construction materials market
