Our client recognised an opportunity to move into a new and developing category that was adjacent to their current core offering, taking advantage of their existing brand strength and core capabilities.

Recognising a gap in the market, and utilising their existing customer base, the organisation commissioned Forethought to assist with a comprehensive research program. Beginning with an exploratory ‘blue sky’ phase to identify opportunities and consumer needs and behaviours, followed by needs-based segmentation and opportunity sizing, developing a customer offering and value proposition, and optimising their Go-To-Market strategy to maximise success upon launch.

A comprehensive research program was developed consisting of:

  • An exploratory qualitative phase using focus groups and IDIs to understand whether the brand could stretch into the adjacent category, the current gaps in the market and any barriers that may need to be overcome
  • Sizing the Opportunity using an online survey, then identifying segments based on needs to inform ideation and product offerings
  • Stakeholder workshops to build a customer value proposition focusing on ‘quick wins’ and long term objectives, based on insights into customer needs as well as core competencies of the organisation
  • Assisting with development of a Go-To-Market strategy, then testing the GTM strategy with the target audience using focus groups and IDIs to determine whether tweaks were required

outcome

The research program was a six month program resulting in a initiative roll out roadmap from current through to 2020. Based on results, the organisation was successfully able to iteratively build a business case to take to the board for approval. This has included market size opportunity as well as potential revenue to be generated from the platform.