This paper highlights the importance of detailed construction research in assessing new markets within the construction and building products sectors. It discusses how to gather essential market and competitor data, evaluate market size, analyse major competitors, and identify key market trends, reduce the risks and identify routes to market. The document emphasises the significance of balancing experience with data-driven insights to minimise risks in product launches or market entry.
Using Construction Research to Assess New Markets
The document discusses the role of research in evaluating new market opportunities in the construction industry. Key sections include:
- Market analysis techniques.
- Identifying and evaluating potential markets.
- Risk assessment and management.
- Strategic planning based on research insights.
- Recommendations for market entry.
Organisations can make informed decisions about market expansion, reducing the risks associated with entering new construction markets. It addresses challenges such as market entry barriers and identifying viable market opportunities.
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