Problem

A finished plumbing manufacturer needed to better understand the structure and size of the market for shower drains in the United States.

The primary objective of this research was to understand the overall size of market and see the distribution of total addressable market by:

• Drain Types

• Brands

• Trades

• Channels

• In-store vs Online

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They wanted to know, among other things, the revenue potential for the most popular styles, and where they need to be sold to increase share.

Process

To provide these answers, the primary research team at The Farnsworth Group conducted interviews among channel respondents and professionals to define the shower distribution structure and share of revenue among different segments of Trade Professionals.

Channel interviews were conducted via phone among Home Centers, Showrooms and Design Centers, Building Material Dealers, and Tile Distributors.

Online interviews were conducted among hundreds of Trade Professionals including Remodelers and General Contractors, Home Builders, Plumbers, Tile Contractors, and Architects& Designers.

From these interviews, our analysts combined primary research data with Bureau of Labor Statistics data to properly size the market opportunity at the trade level.

This approach enabled our analysts to calculate the overall size of market for all shower drains. We then broke out the market size by brand share, channel share, style share, etc.  The client received specific details on each area critical to their sales success.

Outcome

Through these interviews, The Farnsworth Group was able to capture overall sales/spend on a dollar and unit level among suppliers and professionals.

The data and analysis from this market sizing study allowed the client to enhance their sales strategy and set achievable financial planning directives for at hree-year plan.

The client was able to know, definitively, which areas in their product category were quite limited and gained data-backed confidence to make needed changes to product and distribution strategies.

The client also received marketing and sales messaging recommendations directed toward the trades found to be purchasing the highest volume.

Market Sizing Research

Just like this client, you need to have concrete answers to questions like these in order to forecast and strategize in a productive and insightful way when working to gain market share with either a new or existing product. These answers will help you define your opportunities and goals for your product, distribution and customer segment because you’ll know what the true dollar value is at your product level. Learn more about conducting market sizing research.