New Product to New Market for Truck Aftermarket
The Client and Situation
Faced with the decision of whether to launch a new product line in a adjacent market segment, the CEO of this privately-owned maker of truck aftermarket products desired assurance that the market was of sufficient size justify making a bet on an unfamiliar segment of the industry.
A few months later, having now decided to launch the new product line, the CEO and VP Sales wanted to know everything they could about prospect buying behavior, product and service needs, experience with competing brands, competitors, etc. including account potential, decision makers and influencers including contact information.
Business Question
Determine the market feasibility of a new aftermarket product including market size.
Profile end-user and channel segments, define requirements for successful launch, develop initial database of prospects.
Our Approach / How We Helped
Profile market opportunity and for a mechanical lift product sold into public and private bus fleets.
Support development of a smart launch strategy through research on the prospect base including bus dealers, contract bus operators, and publicly-owned and operated fleets. Profile customer perceptions and needs, product & service requirements, and conduct a test of the product concept.
Results Delivered
Provided market positioning strategy, target market profiles, sales strategies and tactics, and a database of qualified and profiled leads to support the product launch.