Product Optimization Strategy
Objective
On behalf of a leading container and transportation company, a custom research firm wanted to gauge customer and prospects’ feedback that the client needs to optimize their product set and improve their offerings.
Challenge
The client was in the process of creating a new cold storage technology. They sought to differentiate themselves in the market, determine the value they could provide to their client’s businesses, and develop a marketing strategy for the product’s launch.
Approach
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A multi-phase strategy was recommended to the client by Liquid Sample to gain insights into the customer's pain points, needs, and feedback.
- Phase 1 entailed quantitative telephonic in-depth interviews with key stakeholders, specifically senior executives at logistics companies, cold storage companies, airlines, and freight forwarding companies.
- Phase 2 involved 300 quantitative telephone interviews and 150 online interviews of customers and prospects who could test the new technological features and provide critical data for the client to generate mission-critical decisions.
Results
- The research offered a comprehensive perspective to the client on the feasibility and benefits of the latest technology, encompassing its novel features, pricing, acceptance among key players, and its impact on the supply chain.
- The research also uncovered fresh market segments comprising customers or stakeholders eager to pay a premium for this cutting-edge technology. The clarity of the insights helped in adjusting the marketing strategies appropriately.
Testimonial
"Our client was happy with the research insights which resulted in identification of new segments & alignment of marketing strategies."
ᅳ Research Director (Market Research Firm)