Research has an important part to play when developing building products. Construction market research is the foundation stone of any construction product launch. Researching construction markets helps avoid unnecessary risk and expense. And you can use survey findings to base product, price, place and promotional decisions on. Using real construction market intelligence is essential prior to launching a new construction product.
You need to know the potential of your target construction sectors including:
- The trends and forecast for your target construction sectors.
- The competitive environment.
- Barriers to entry, such as regulatory requirements, performance standards, test certifications etc.
- The size of the opportunity, the market potential.
How we can help you with your pre-launch feasibility construction market research:
Here are just some of the construction industry research methods that Competitive Advantage can help you with:
Competitive Advantage has an understanding of the construction market and has the resource and experience to conduct comprehensive desk research for you. Sourcing economic and construction industry reports and commentaries and presenting them in a digestible manner to give you an overall view of your target construction market.
Information from your sales and customer services teams provides a good base to build analysis from, and can help steer further objective construction research. Competitive Advantage can act as an independent party to gather this data, and incorporate it into a wider market research project into pre-launch feasibility.
Qualitative market research via telephone interviews
Conducting market research with construction industry experts and target customers or specifiers completes the evidence needed to inform your construction product launch plan. Conducted on your behalf, we have found telephone interviews to be the most cost effective and reliable method of construction industry research. If there are some complex issues, or important customers, we can include face-to-face interviews in the market research process. Reporting is factual, but includes a series of commercial recommendations based on our extensive construction sales and marketing experience. we can:
- Give you a picture of the competitive environment, potential barriers of the construction market, and substantiate earlier desk research and anecdotal evidence with first hand observation.
- Clarify the decision-making process for your construction product, how the different players interrelate, who the specifiers and influencers are and what their key drivers for construction product selection are. Appropriate communication channels and information required by the client / specifier can also be explored.
- Provide the evidence to formulate your construction sales and marketing strategy by identifying the optimum route-to-market for your construction product. Information on delivery and handling requirements, service expectations and stocking policies for example, can be gleaned through independent construction market research.
The benefits of working with us on construction market research:
- We have been conducting market research for the construction sector since 2000
- Our specialist team have been recruited from sales, marketing and design roles within the construction sector
- We are experienced at interviewing construction industry decision makers: architects, engineers, project managers, estimators, large & small contractors, sub-contractors, distributors, wholesalers and merchants
- We publish standard reports , that can be drawn on to complement your construction market research findings
- Our commercial experience means that as well as reporting findings we are able to interpret these effectively and make sound business recommendations
- If your market research identifies a training requirement, or a need for strategy development we have the expertise to work with you on this
- We provide high quality, informative data at an affordable cost