Market Assessment of Building Systems Concepts
The Challenge: Our client, an industry leader in building systems, wanted to assess the market potential of a new product offering. The concept involved developing integrated solutions in which various systems like lighting, heating, elevators, security, etc. could all be run through a single interface.
Assessment: Blue Canyon interviewed key participants and decision makers in the market including building owners, managers, developers, and maintenance personnel to introduce the product concept and gauge response.
Strategic Solution: A scale measured the value of key product feature requirements highlighting features that were “must have” and those features that were “nice to have.” Blue Canyon pinpointed certain elements of the product offering that were more attractive to specific segments of the market. It was apparent that the various constituents had different expectations in terms of payback periods.
Results: With the market segmented according to purchase decisions, the client was able to pursue a specific target market for introducing the new product offering.