If your business wants to get into a new market, or offer a new product in the same market, you’ve got to start by understanding the landscape.
Our detailed market scoping work focuses on helping you understand the two groups who will have the biggest impact on your success – the people who might buy from you, and the competitors who might stop those people buying from you.
So we start off by identifying key customer groups in your market and getting to know them. We take time to understand what they’re looking for and why, which of their needs are being met and by who, and what factors influence and motivate their purchases.
We then give you a comprehensive competitor map. This highlights key players in the market – including direct and indirect competitors – and lays out their offer, positioning, market share, and any opportunities they’re missing.
Our market scoping work helps you answer questions like:
- Which customer groups will be most receptive to our offer?
- What customer needs aren’t currently being met?
- Where are the gaps in the market?
- Who are our biggest competitors, and why?
- What might make a customer switch from a competitor to us?
Once you know the answers, you can develop your product, service, or brand to meet the needs of the customers you’re most keen to attract – stealing market share from your competitors and becoming unchallenged leaders in your field.
WORK WE’VE DONE
CUSTOMER SEGMENTATION FOR FWD INSURANCE
FWD set out to change the way people feel about insurance. The Asia insurance market is crowded so precise targeting is critical: the right people with the right brand proposition, products, services and communications.
Think our market scoping work sounds like just what you need?
We’d love to talk with you about how our insights could help your business grow.
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