Problem
The Farnsworth Group was approached by a manufacturer of woodworking power tools and needed to better understand market drivers that influence product selection, and get direction regarding what additional power tools they should consider manufacturing and taking to market.
The objective was two-fold for this research study:
- Help the manufacturer understand how customers are selecting the power tools they use
- Help the manufacturer get a direction for the new product development roadmap based on existing customer perceptions
Process
Our research team recommended they leverage a customer usage and attitude (U&A) study to investigate and better understand the profile of their current customers, product selection and performance metrics, resources used for learning about power tools, and what new tools their customers could see them manufacturing.
This power tool manufacturer relies on primary market research to guide their customer experience process and future product development which are based on a strong understanding of customer usage and attitudes.
They needed to capture information from both professionals and hobbyists that would answer several questions, including:
- What was the reason for purchasing their power tool?
- What were the key selection factors driving their decision and how is the brand they are using performing.
- What is their customer profile?
- What channels were used to purchase to the power tool?
- How did they learn about their power tool? What type of information was most helpful?
- How do they prefer to keep in touch with the manufacturer of their tools post-purchase?
- What other tools do they believe the manufacturer could also make?
The Farnsworth Group worked with the manufacturer to develop a market research questionnaire that would achieve their objectives. Our market research team then used an online method to reach over 6,000 of their customers.
Outcomes
From the research conducted, this power tool manufacturer was able to inform two primary strategic objectives:
1. They improved their understanding of their customers and validated the type of individual purchasing their power tools via deeper learnings into their customers’ uses of their power tools, key needs and perceptions of their product, along with frequency of use, and demographics.
2. They learned which power tools their customers owned, and which new power tools their customers could see them making in the future to help prioritize future tool production.
Next Steps for This Manufacturer
Based on recommendations provided by The Farnsworth Group based, this manufacturer was able to make better tactical decisions across divisions regarding their customer targeting and product strategies that will be used to increase their share and overall sales in the power tools category.
By applying what they learned from the research about their customer base, what they like and dislike about power tools, what key features and benefits are most influential, and what sources can be used to reach them and future customers, this manufacturer is now poised to better develop strategies to increase the effectiveness of their current product sales and have set the stage for further exploring new power tools to add to their portfolio.
Conducting Your Own Customer Research
To equip your sales, channel, marketing and product teams with the information they need in order to deliver delightful customer experiences successfully and boost sales of existing products and services, it's critical that you question preconceived notions about your customer experience and instead do the work to get their genuine feedback.
Ask, don't assume.
To get the most accurate, unbiased results, work with a neutral third-party like the research team at The Farnsworth Group to design, field, and analyze your market research.
With an emphasis on aligning the research to inform your company’s strategic goals, our team at the Farnsworth Group takes the time to understand your strategic needs for the research. Our researchers are here to help guide your understanding of specific customer types in the complex building products channel environment.
Further, you'll benefit from leveraging our four decades of industry knowledge to get a contextual understanding of the nuances in your product category, at both a market and customer level.
