Market Research: Building a Business Case
About the Customer
This client is an award winning, venture-backed biotech start-up producing high-performance chemicals from plant-derived substitutes based in the US. They have been ranked highly in a list of the world’s most innovative companies of 2022 for their work in providing a cleaner future. With so many accolades they were keen to break into the British market and JBPRM were approached to research the potential demand. They also had plans to invest in building a plant here where their products would be produced and supplied directly. It was up to us to undertake vast research into their business sectors, routes to market via distributors and the strength of demand in the UK.
JBPRM assigned a dedicated team to canvassing multiple business sectors. We were speaking to and vetting business leaders in oil & gas, petrochemical, water treatment and power generation sectors among others. By speaking directly to over 1,000 companies we were able to secure hard figures on the demand and use of water treatment products and chemicals. Safe and sustainable chemical free alternatives were definitely high on agendas during our research, making positive headway in the demand for this technology.
Taking the First Steps into the UK market
Once we had identified the potential demand for and consumption of their products, we found there was a preferred and more realistic market value through distribution as opposed to direct sales. JBPRM compiled a comprehensive list of almost 200 distribution companies in the UK. A database of sectors showing the market worth was presented to the board members and investors. This resulted in the decision to take an initial shallow dive into the UK market.
Research into Distribution
Upon receiving the database and research results provided to them by JBPRM the client then asked us to formulate a distribution channel strategy as there appeared to be no time to waste. We found that there was an immediate market for the products as around 30 UK distributors had requested samples and were very excited about them. Supplying to the UK distributors from the US would leave a carbon footprint that could not be sustainable in the long term and this would have to be factored into the benefits of these products entering the UK market straight away. The client is now working on building a production facility in the UK.
JBPRM Delivered Services
- Market research
- Potential market demand figures
- Research into distribution channels
- Formulating a database of potential distributors
By contacting JBPRM you will have a dedicated team on hand to provide you with the facts and figures to break down any barriers for your routes to market. We pride ourselves on providing an expert team to deliver the accurate data and solution strategies for your business.