Case Study A | Hawkeye Consulting LLC

Case Study A: Market Study, Market Opportunity Analysis and Go-To-Market Strategy

CLIENT TYPE

Home Siding Manufacturer

OVERVIEW

The objective was to develop a comprehensive market study of the fencing market and ultimately make recommendations on a highly targeted Go-to-Market Strategy focused on six major cities/regions.

The client had acquired an innovative technology and was considering developing a new product. Although not in line with their existing/traditional product type and market, they felt there was a tremendous opportunity as a complementary product in a closely related market – the Fencing Market. The client wanted to launch the product in six test markets across the country. These cities/regions needed to be identified with market potential quantified, along with go-to-market strategy recommendations for each location.

PROJECT COMPONENTS

A. Fencing Market Study

1. Fencing Market

Situational Analysis
Total Fencing Market Size and Demand

2. Market Segments

Key Market Segments and Analysis
Market Segment Size and Demand
Market Dynamics
Customer Needs and Analysis
Channels of Distribution (with %) by Market Segment
Competitive Landscape

3. Target Market Opportunity Analysis

Identify the target market segments.
Determine optimal fencing styles and materials.
Establish customer profiles.
Identify optimal channels to market.

B. Go-To-Market Strategy

1. Identify six major markets (i.e. cities/regions) with the ability to support a new product and increased penetration for the company's primary product portfolio. Identify market potential per region.

2. Develop individual go-to-market strategies for each target city/region.

3. Develop targeted marketing campaigns for each market.

THE CHALLENGES

A. Secondary data (published data) for the overall fencing market was outdated and inconsistent.

B. To determine optimal cities with potential for remodeling, it was necessary to understand forecasted growth of consumer exterior home projects. Little to no published information was available.

RESULT

A. Market Opportunities

Revealed specific market opportunities and made recommendations on target market segments, fence styles, demand projections, target locations, customer profiles, and channel partners.

B. Voice of Customer

Obtained Voice of the Customer across the U.S. regarding pricing of different styles and materials. Phone interviews were conducted with distributors, fencing dealers, and remodelers on a regional basis.

C. Target Market

Identified optimal target market segment with market potential.

Established Six Target Cities/Regions and Market Potential

Identified a method to determine anticipated home exterior remodeling expenditures by target location. This was used in the selection of market potential by target market.

Determined evaluation criteria for target cities. Some of these criteria included population size, regional preference for materials and styles, forecasts for remodeling and new construction, age of homes, average income, etc.

D. Go-To-Market Strategy

Established and recommended a comprehensive go-to-market strategies for each target city/region.

Go-To-Market Strategies include Value Proposition, Product Features and Benefits, Applications, Pricing, Channels of Distribution, Specific Local Channel Partners, Promotional Methods/Campaign, Competitive Landscape and Customer Profiles.

E. Targeted Marketing Campaign

Homeowner profiles were generated based upon select criteria such as age, average income, household style, age of home, anticipated remodeling expenditures, as well as other criteria.

Created a micro-level targeted marketing campaign recommendation based upon target city zip codes which were used to identify optimal homeowner event participation.