Perspectives

Case Study

Listening to the Voice of the Market (VOM):
Setting the Strategic Direction Based on In-Depth Customer Insights.

Industry & Client Situation

Despite its market leadership, a global building products manufacturer had consistently delivered sub-par profitability relative to its main competitors. The newly-appointed CEO rapidly identified the need for transforming the internally-focused, product-centric organization into a market-oriented, customer-driven enterprise.

Bridge was engaged to help the organization through this strategic transformation, by developing an enhanced three-year strategic plan grounded on in-depth customer feedback, and powerful market insights.

Approach

Working closely with a cross-functional client team, Bridge used its comprehensive Voice of the Market (VOM) methodology to collect market feedback, generate practical insights, and establish a set of prioritized strategic initiatives for accelerated business impact:

  • Partnered with a market research firm to conduct a nationwide phone survey of 200+ customers, including architects, designers, engineers, contractors, distributors, sales agents and sales reps, with the purpose of assessing key market dynamics, understanding the decision-making process (and the role of each stakeholder), and collecting preliminary customer impressions around product characteristics, service dimensions and competitive positioning;
  • Conducted 50+ in-depth customer interviews in seven distinct geographical markets, which was focused on validating initial hypotheses on market segmentation, customer characteristics, and decision-making process;
  • Complemented primary research with extensive secondary research focused on mapping other aspects of the market, including the competitive landscape, product and technology trends, as well as the legislative and regulatory environments;
  • Conducted 60+ staff interviews across a rich cross-section within the organization to validate market insights and capture internal perspectives on emerging opportunities.

Results

Bridge used in-depth market insights to define opportunities for our client to strengthen its market presence and to promote profitable growth. These opportunities were translated into tangible initiatives that became the basis for an enhanced three-year plan:

  • Realign the organization to ensure a consistent value delivery system supporting the distinct requirements of two newly-defined market segments;
  • Develop a portfolio strategy that maximizes the impact of our client’s brands as part of an integrated system;
  • Refine overarching strategies at the local market level, to account for differences in customer preferences, market strength, sales force capabilities, and competitive environment;
  • Create a mechanism to systematically capture and incorporate market feedback in areas critical for continuous performance improvement and for the evaluation of new market opportunities.

These initiatives were incorporated into our client’s business plan, and Bridge was retained to guide the organization through execution.