Construction market research is essential to launching a new construction product.
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.
The benefits of conducting pre-launch feasibility research are:
- Researching construction markets helps avoid unnecessary risk and expense.
- You can base product, price, place and promotional decisions on real construction market intelligence.
Market research is the foundation stone of any product launch.
How we can help you with your pre-launch feasibility research:
Here are just some of the 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 research. Competitive Advantage can act as an independent party to gather this data, and incorporate it into a wider research project intp pre-launch feasibility.
Qualitative research via telephone interviews
Conducting research with industry experts and target customers or specifiers completes the evidence needed to inform your product launch plan. Conducted on your behalf, we have found telephone interviews to be the most cost effective and reliable method of research. If there are some complex issues, or important customers, we can include face-to-face interviews in the 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 market, and substantiate earlier desk research and anecdotal evidence with first hand observation.
- Clarify the decision-making process for your product, how the different players interrelate, who the specifiers and influencers are and what their key drivers for product selection are. Appropriate communication channels and information required by the client / specifier can also be explored.
- Provide the evidence to formulate your sales strategy by identifying the optimum route-to-market for your product. Information on delivery and handling requirements, service expectations and stocking policies for example, can be gleaned through independent research.
The benefits of working with us on construction market research:
- We have been conducting 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 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 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