Challenge

The research laboratory of a major communications service provider had developed a capability to record differences in web site content for identified URLs, as well as some basic analytics and graphics to identify and portray information believed to be of interest to the end-user. The client had undertaken limited market research efforts to identify available, competing capabilities in the marketplace, or to talk to prospective users to determine their specific interest in potential applications. But the client had limited internal resources with an expertise in market identification and preparation of market development plans. Therefore, the client commissioned TMNG Global to conduct market research that would identify the market potential of this new technology, and determine whether similar market assessment efforts should be undertaken for other technical capabilities within the company.

TMNG Global Solution

As part of our market research plan, we developed a detailed questionnaire to poll potential customers for their overall perceptions and impressions of the new product. TMNG Global conducted 20 formal and informal interviews with a cross section of potential customers to gather this information.

This research would allow the client to identify key unmet needs related to systems for collecting competitive intelligence, and for use in ongoing surveillance of the competitive landscape. Another objective of this research was to also identify priorities among 35 key system attributes for incorporation in the required solution, the form in which capabilities would be delivered (site license, in-house, outsourced), and the associated willingness to pay.

In addition, end-users were asked about services associated with the software solution (e.g., training, integration, data enhancement) that would be purchased as ‘accessories’ of the basic platform software offer. In addition to the primary research, we also conducted a competitive analysis to determine the leading capabilities in the marketplace. From that information, we were then able to provide the client with a summary of how their core attributes compared to those of their closest competitors.

Based on TMNG Global’s market research and the subsequent market analysis performed, we created an evolution path for the new product technology that incorporated a product lifecycle framework, market-leading characteristics and prepared the client to take the solution to market. Finally, we developed a detailed roadmap for the client that listed additional activities there were required for successful product launch preparation and market introduction.

Benefits to the Client

Upon launch of their new product, the client reported that the focused strategic consulting that TMNG Global provided resulted in a savings of up to $1 million that might have been spent on unproductive development efforts had we not been engaged. The client has chosen to integrate our market entry strategy methodologies into their business management and operations infrastructure as a template for future analyses.

Due to the success of this project, the client has continued to engage TMNG Global for their ongoing management consulting needs.