To define opportunities for acquisition, distribution or revenue, you need to know market revenue down to the product level to create your company strategy. Our customized Market Sizing & Structure research utilizes direct feedback from end-users and suppliers to give you the detail you need.
Have you ever asked yourself these questions: “What is the total market size in retail dollars for our product or sub-product?” “How large is the total addressable market?” “What share of sales is from each channel segment?” “What is our brand share of the total market?” “How much of the total market is Pro vs DIY?” Then you need market sizing insights.
In order to forecast and strategize in a productive and insightful way, you need to have concrete answers to the above questions (and more). 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.
This ratio captures how much product is being sold for (or purchased for) on a per unit or volume basis. This information is essential for creating accurate corporate strategy and forecasting.
Discovery includes the following features:
We capture the frequency of product purchases (or product sales) and combine that with population sizes to provide you with a total addressable market and sales potential. Not just in total, but by customer segment and channel segment.
Concept Testing includes the following features:
This determines brand sales volume and hierarchy; in essence, your brand share and that of your competitors. We can then apply brand share by customer and channel segments to reveal market opportunities for growth.
Concept Testing includes the following features:
In these real research projects, you can clearly see where the recommendations given to the client would have been wrong had our team not gone through The Farnsworth Group's industry leading approach to data quality and cleansing, which is necessary to rid erroneous responses from our clients' data set.
Here's what we found:
We bring industry and category knowledge to your project, which gives you a head start by allowing us to start discussing your specific needs. Through our in-depth conversations, we’ll define a customized research approach that will produce detailed insights to drive informed strategic decisions. We’ll survey targeted, pre-screened, tightly-profiled respondents, and use their answers to analyze the data and build your report. We then apply over 150 years of combined industry knowledge to bring a deeper level of analysis and recommendations. You end up with data-driven insights supported by industry expertise that provide you with actionable recommendations.
Inform where to grow your presence.
Identify which addressable market segments your teams should pursue, and to what degree the opportunity even exists.
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Evaluate brand metrics, perceptions & competition to improve your brand position.
Gain a fundamental understanding of customers in your market for a particular product.
Select the best concept, features, pricing and communication for a more successful product launch.
