Research has an important part to play when developing building products. Construction market research is the foundation stone of any construction product launch. Researching construction markets helps avoid unnecessary risk and expense. And you can use survey findings to base product, price, place and promotional decisions on. Using real construction market intelligence is essential prior to launching a new construction product.
You need to know the potential of your target construction sectors including:
- The trends and forecast for your target construction sectors.
- The competitive environment.
- Barriers to entry, such as regulatory requirements, performance standards, test certifications etc.
- The size of the opportunity and the market potential.