Market assessment of wood paints in the GCC region
Sector- Paints & chemicals
Business Practice- Business Consulting*
The Need
A large multinational paints company, a top brand in the market that offers various decorative and industrial paints did a series of research with us to assess the market potential for wood paints category in the GCC region before entering into this new product segment.
Our Approach
The research approach required that market facts are obtained from the suppliers, projections are made from the real usage and brand preferences understood from the key influencers. Hence, Business Consulting team conducted an in-depth market research with key stakeholders among the users along with competition of wood paints. In addition, before the actual fieldwork several wood joineries were visited to get proper understanding of the Wood paint usage and factors impacting choice of product, brand and suppler.
Design: Pre research market visits, IDIs with competition and key influencers on user side, a quantitative survey among large number of joineries & extensive Secondary Research was conducted to understand the complicated GCC market
The Outcome
The client has entered the market with wood paints offer in the GCC region. Based on the findings and recommendation provided product range, brand and pricing strategy was altered to meet market demands.
*Business consulting team’s experience operating under a different brand, 4SiGHT Business Consulting