A Fortune-listed industrial manufacturing company developed a mass notification platform that has been successfully growing over the past years. The company, however, believes that additional growth can be had by expanding into other sectors, including healthcare, early childhood education, universities, and commercial real estate. As the company looks to expand into these markets, the company needs to understand the new verticals in terms of:
- Market attractiveness
- Opportunity size and potential growth
- Competitive landscape
- Degree of product fit
- Other relevant technology trends
To meet these objectives, PP&A led a comprehensive study effort consisting of expert interviews and a market survey.
The expert interviews focused on a solutions provider standpoint, targeting former strategy and corporate development executives from major communication and systems providers operating in the target growth verticals. As part of this study effort, we explored the following topics in line with the client’s objectives:
- Market dynamics and growth opportunities within the target verticals
- Customer dynamics and considerations when operating in the target verticals
- Detailing the competitive landscape
- Assessing the client’s product fit to the needs of the respective target vertical
The market survey focused on gathering perspectives from potential customers within the new target verticals. This survey targeted managers and decision-makers within the new target verticals with a focus on the following:
- Product growth trends and future expectations
- Customer product functional requirements
- Perceptions about pricing
- Impressions around competing solutions and competitive players
As a result of the study, our team developed a comprehensive strategic report covering the key objectives highlighted by our client for each of the new target verticals. Based on our efforts, our client was able to inform budget allocation decisions for strategic initiatives within the new verticals. In addition, the study laid the groundwork for future product development roadmaps as the company looks to tailor its offerings to meet the needs of specific customer groups within the new target verticals.
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Contact UsAt PP&A, we are dedicated to empowering businesses to excel through strategic innovation. We integrate deep industry insights with comprehensive analytics to develop bespoke solutions that propel growth and enhance performance. Our services encompass a broad spectrum, including:
- Strategic Research
- Business Strategy
- Mergers and Acquisitions
- Technology Solutions