In the current climate, it is more important than ever to make sure you know all your facts before launching a new product or service or moving into a new market.
RTC North has always understood this, which is why we have a market researcher who works with clients, helping them to answer the questions they have. Questions like:
• How big is the market we want to move into?
• What geographical areas should we consider?
• Who are our prospective clients?
• Where are they based?
• What age/social demographic are they?
• Who is already doing what we are thinking about doing? Who are our competitors? What does their market offer look like?
• Who can help us manufacture/develop our product/service? What does our supply chain look like?
• How can we sell it? What are our routes to market?
Who can use the service?
Whether you are fast growing and scaling, developing innovative new products, looking to enter new markets or trying to reach more or higher value customers, you can make use of the service.
We will discuss your project with you and provide you with a written proposal of how we can help you move your business forward.
If you think that your business could benefit from the RTC North market research team, then please email or call Joy Branigan to discuss how we can help. Email: [email protected] Call: 0191 516 4400
Looking at New Markets
A commercial LED lighting company were looking to start selling their lighting in a new market, the poultry industry. Who was already supplying lighting to poultry farms? How many farms were there, and which countries produced the most eggs and meat?
RTC provided the client with a report that described the current market landscape, along with analysis on the size and scale of the market with information from Eurostat and the Food and Agriculture section of the UN. The report gave the client insight into the biggest poultry producing countries, contacts for the largest farms and details of who was already operating in the market.
A designer/manufacturer of bespoke plywood furniture and lighting needed to understand sales figures for the markets they were selling in. How much was being spent on products like theirs across the UK? How could they find new ways to sell?
RTC used Government statistics and Retail Sales figures to give an indication of how much was being spent and, crucially, how much actual disposable income households have to buy luxury products. Information was included in the report on how to get their products featured in lifestyle magazines along with details of awards, competitions, events, trade fairs and websites curating and selling similar products.
Developing Supply Chain
A pickle manufacturer wanted to find new places to sell their products and a new supplier to manufacture it. What were the contact details for deli’s, farm shops, artisan butchers? What companies near them would be worth contacting to manufacture their pickle?
RTC created a company contacts database for the client with companies listed by sector, turnover, profit and employee size with full contact details for each company. Manufacturers were found and reports supplied on creditworthiness and financial stability.
Together with our partners; North East Automotive Alliance (NEAA), Generator, North East of England Process Industry Cluster (NEPIC), and the North East Local Enterprise Partnership (LEP), RTC North launched the brand-new Supply Chain North East programme to help as many SMEs as possible in our region tap into new markets, explore new opportunities, and ultimately futureproof their bread and butter should challenging times arrive.
Supply Chain North East is a multimillion programme aimed at revolutionising the way SMEs diversify their offering and embrace new markets. The programme has received more than £3m of funding from the England European Regional Development Fund, which is part of the European Structural and Investment Funds Growth Programme 2014-2020.
If you think that your business could benefit from the market research team, then please email or call Joy Branigan to discuss how we can help. Email: [email protected] Call: 0191 516 4400