Client description: Flooring manufacturer

Practice area: Market Research and Analysis

Geographic scope: US

Industries involved: Building Materials & Products, Construction, Healthcare

Services applied: Market Opportunity Study, Competitive Intelligence, Brand Perception & Awareness, New Concept Testing

Business challenge: Client wanted a detailed path to purchase study of flooring products utilized and preferred across facilities designed for senior living. They wanted to understand the critical attributes as well as the people or entities that influence/make the decision. Given the company structure, the structure of the senior living market, and the presence of new competitor brands, client also needed to understand the extent to which the market is accessible.

Methodologies: 14 telephone in-depth interviews (IDIs) and 200 quantitative online surveys with senior living facility owners/operators, commercial interior design/architectural firms and thought leaders.

The result: Delivery of a report with in-depth information on the path to purchase, product attributes essential to senior living, decision drivers, and decision makers/influencers involved. Report included graphics on growing market trend, brand awareness measures, quantification of most used products per facility type & brand, product price points, satisfaction level with current products, and estimation of market size. Also depicted, were insights and analytics about unmet needs; What Customers Want (WCW); value driver charts showing product features/attributes; and brand battleground analysis comparing performance ratings against value-driving attributes were.

A new product concept test revealed that the product with such features was needed, believable, and unique. There was high purchase intent but not everyone was willing to pay a premium.