Maximizing market potential: Identifying relevant commercial offers for corn growers in key markets
Case Study
Situation
Our client wanted to investigate the market potential of several commercial models for corn growers across seven key global markets. These models consisted of sets of recommendations and technical support in various agronomic technology areas. The client wanted to gauge growers' willingness to adopt and pay for these models and their attitudes towards specific terms. This information would help them understand which commercial offers needed further development and preparation for successful launches in specific countries.
Overarching Challenge
The client needed to identify relevant commercial offers for each market, as launching all offers at once would be too expensive and risky. They also required guidance on pricing these commercial offers to adopt appropriate marketing strategies for each market. Additionally, the client sought to profile the group of growers who would be their primary target.
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Cost of not finding a solution
Developing all commercial offers for each market would require significant investments in promotion, external human resources, as well as organising and training local sales teams. Most of these investments would be wasted since, as our research showed, only 3-4 commercial offers (out of 8) were relevant and viable in each studied country.
Solution
We conducted a quantitative CATI-web-CATI research across the seven markets, using a combination of CATI and web links for Menu-Based-Conjoint exercises. CATI-web-CATI research is a survey method where questions are programmed into a computer system and administered to respondents via telephone or online. It is used to collect large amounts of data quickly and efficiently. The data is then analysed using statistical methods to identify trends, patterns, and relationships. We completed 150 interviews per country, targeting a segment of more technically savvy growers. The survey had several sections to present the commercial offers, gather benefits and drawbacks, and perform Menu-Based-Conjoint exercises.
We provided the client with a detailed description of the primary target group for their commercial offers, a recommended price range for each offer, and guidance on prioritizing countries for the initial launch.
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Conclusion
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