New Products Launch Strategy- For A Leading European Color Management Company In India
Priority is a global provider of qualitative and quantitative research services, focused on generating actionable insights for business decision makers.
Gurgaon, India, December 26, 2014 (Newswire.com) - Priority provided breakthrough insights assisting one of the leading European Color Science and Technology Company, in introducing a revolutionary hand held Color Management device designed for the Mid Segment Indian Printing Market
Key Takeaways:
- Priority assisted the client in innovatively designing and developing a new entry level product for the Indian mid-segment market
- Priority's proprietary 'decision barcoding' methodology helped define key performance metrics and 'feature-price' bundle needs
Client Objective:
Our European client wanted to tap the rising opportunities in the Indian mid-segment color management sphere. Already a global leader in color science and technology, our client wanted to devise a product specifically for the copious mid-segment.
Priority was engaged on successful corporate engagement to develop a color technology (Software & Hardware) solutions provider’s market expansion strategy in the industrial mid-segment in India.
The following four Indian industries held our client’s attention that they wanted to cater to:
- Textiles
- Printing
- Retail paints
- Plastics and coatings
Priority approach:
Priority launched a pan India study to deduce the market for the mid-sized firms’ use of color management technology across Textiles, Printing, Retail Paints and Plastics and Coatings industry.
Our proficient primary research teams embarked upon their course of study, travelling across more than 15 Tier I, Tier II and Tier III cities in India and speaking with around 250 respondents in the firms of the four selected industries.
Our main aim with the discussions was to highlight the needs, buying behavior, usage behavior, spends and types of the products being utilized in such firms. We were also keen to understand their attitudes towards technology and the types of technology or tools that small-to-mid sized firms would like to purchase in future.
Value Proposition:
The Indian mid-segment is a bag full of surprises, once understood well and taken control over, it may lead to unprecedented gains but if not understood well and jumped onto it, it may not be a lucrative decision.
Priority chanced upon some of the most alarming insights that greatly helped the client in devising their strategies ahead. Priority also helped in identifying the perceived challenges for the client to access the mid-segment market, which could hamper their product launch and market growth in the Indian mid-segment.
Key Project Highlights:
- Over #250 respondents from #4 Indian mid-segment industries across #15 cities were interviewed for 2-3 hours each
- Priority’s on-field research teams, moderators and local business associates worked collaboratively to bring out the true industry insights
Industry: Manufacturing & Industrial, Technology and Software
Service: Expert Primary Interviews, Customer Satisfaction Studies, Market Entry Insights, Product Launch Intelligence, Feasibility Studies, Industry Competitive Benchmarking, Market Trends Assessment
Research Methodology: Primary Research
Geographical Focus: India
Output Format: MS Power Point-Industry Profile, MS Power Point- India Market Entry Strategy Document, MS Excel- Interview Schedules & Interview Patch plan, MS Excel- Interview Notes/Respondent Choices, Audio/Video Files- Primary Interviews (depending upon the client’s request and the respondent’s willingness)
Priority Team Structure:
- Team of #5 ‘Consultants’, #2 ‘Senior Consultant’ & #5 ‘In-house Moderators’ who travelled across India and were working dedicatedly to conduct interviews, along with preparing their interview notes
- ‘Project Manager’ to manage quality control of research output, confirm the suitability of a respondent to be a participant in the survey, proof read/edit the documents including interview verbatim
- Managing Director as ‘Project Lead’ to supervise the overall project execution and conduct strategy level discussions with the client, keeping him apprised of all the research insights
Project Timeline: 6 months
Project Year: 2011