A major building materials manufacturer was intent on maintaining its position as market leader in two key exterior product categories by diversifying its product portfolio. A key objective was to explore new product possibilities in both existing and adjacent markets.
A phase approach started with discovery to ideate and develop the set of opportunities, followed by screening and initial assessment. This included the development of detailed evaluative criteria for both attractiveness of product and market as well as fit with the Client’s capabilities and strategic objectives. A more extensive assessment of each opportunity included in-depth market sizing and understanding of market and competitive dynamics of each new product or market.
The Client is underway with development of product extensions that will increase and support its primary contractor customer base while leveraging the Client’s existing assets, and likely to lead to change with its current go-to-market model.