A leading manufacturer of hardware and security products faced a critical juncture in the life cycle of one of its mature products and asked us to step in.
The product has been in the manufacturer's portfolio for years with a loyal customer following, but has faced steadily declining sales due to a lack of re-investment in product development and marketing support. Faced with a decision on whether to reinvest critical resources in a declining product with questionable brand equity, the company tasked Trig with designing and implementing customer research that would provide actionable data.
Our customer research team collaborated with the company’s product management team to identify several existing and potential market segments for the product.
Once identified, each segment was recruited and surveyed for their overall enthusiasm for the product, as well as certain attributes of the brand and its performance. Upon conclusion of the research, the Trig team was able to help the client make a "Go / No-Go" decision to invest or divest the product/brand, as well as identify the top three segments that would be most responsive to a marketing campaign.
The concept/brand validation survey methodology also informed key variables for product forecasting. An ATAR forecasting model was developed to further inform managerial decision-making on which of the top three segments to pursue, what scale of marketing investment would be needed, as well as the size of channel partner needed to achieve the sales forecast.
Further analysis of channel partner strategy was conducted using portfolio management tools to emphasize the need for multiple products under a compelling brand.
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