Market opportunity for a pre-fabricated construction product manufacturer
Our client was looking to launch a pre-fabricated construction product in the UK. The product is a unique offering and is currently successful in the German market. The client wanted to understand the potential market size, competitors and routes to market in the UK.
Since there are not currently any directly comparable products in the UK market, FreshMinds undertook an assumption-based modelling exercise from both the demand and supply sides to estimate the potential market for the product. We analysed the competition presented by substitute products and investigated the extent to which current distribution channels could be adopted for a new product. The project included elements of desk research and statistical analysis, as well as telephone interviews with relevant industry experts to understand how they believe the market is currently segmented, and how it will develop in the future.
Our research provided the manufacturer not just with the evidence needed to establish internal buy-in for market entry, but also the potential means by which to enter the market, and the threats and opportunities it represents. Our client is currently planning to launch their product in the UK market.