Home » Case Studies » A valve manufacturer interested in new market opportunities and market-based product development ideation looked to Geo Strategy Partners to identify and validate the possibilities
A valve manufacturer interested in new market opportunities and market-based product development ideation looked to Geo Strategy Partners to identify and validate the possibilities
Client description:
A specialty valve manufacturer
Challenge:
The client retained Geo Strategy Partners to identity, assess, and quantify market opportunities to support a need for expansion. This encompassed the possibilities regarding selling more to existing customers, selling existing products to new customers, and developing new products for existing and new markets. We swept wide in identifying possible new products with demonstrated need in the market.
Methodologies:
In-depth interviews were conducted with 54 sales, marketing, and engineering professionals at original equipment manufacturers, competitors, customers, distributors, and thought leaders/industry experts. Secondary research quantified industry size and growth and illuminated the competitive landscape.
The result:
The client moved into a new high-use customer market with a re-purposed line of valves, and as well, re-prioritized their selling and development efforts based on research findings of the relative market size and potential for their various product lines.
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