Focusing Product Adoption Efforts on the Right Customers
A large industrial company had recently launched a novel chemical processing technology but found that customers in its targeted segment were not adopting the product. The company asked Newry to validate demand and the expected rate of adoption and to identify the most attractive customer groups. To build an independent estimate of market potential, Newry focused on multiple high-potential specialty chemicals, which included a wide range of price points, chemistries, and end markets. Through interviews with many chemical processing experts, we identified five segments with applicable chemistries and sufficient end-product volumes. Then we analyzed the manufacturing processes for every chemical in the segments and calculated the throughput volumes for reactions relevant to our client and the equipment expenditures required to achieve those volumes. In addition to determining market size and target chemicals, Newry identified, through more than 100 interviews with potential customers, a slight modification to the client product that could speed customer adoption.
A leading supplier of scientific information and tools for guiding conservation action needed to solidify its funding base for the future. Newry evaluated the organization's market -- its network of users, partners, funders, and competitors -- and developed specific recommendations for new products and services that would ensure the organization's future funding. Our process employed a variety of conventional market-analysis tools as well as "event-mapping" and product-ideation techniques.
