Case Study: Shocking the Market (Telecommunications Industry Experts)
The licensing team at an advanced manufacturing company wanted to learn more about the technologies and devices used to protect signal and power lines from extreme voltage and spikes, i.e. lightning strikes. The team needed to gain a better understanding about the market for these devices, including what customers would like to see in such a device and how valuable they consider these devices to be to their operations. The licensing team was evaluating potential new licensing opportunities, and needed a clearer picture of end users’ decision-making process when purchasing these types of protective devices to confirm their direction moving forward.
Purchasing Process Competitive Landscaping Current Technologies
The team worked closely with their dedicated Maven account manager, who recommended launching a Telephone Consultation inquiry to identify telecommunications industry experts with direct experience managing telecommunications operations, including those who specifically maintained and monitored signal and power lines. The team’s conversations with five individuals from diverse backgrounds gave them a clear outline of the most critical features that were considered to be most valuable in this area. The feedback also gave the team a well-rounded perspective about the current market landscape for these types of devices. Following these successful conversations, the team lead decided to ask one of the Mavens to continue advising his group through an Extended Consulting engagement. Over the following months, the individual helped the team develop an appropriate marketing strategy for the device and played an instrumental role in identifying the potential customers to meet with.
“Maven quickly provided us with the opportunity to access the information that we needed to be able to improve our product, learn purchasing habits of the customer, and identify gaps in the current technology. We are pleased to continue working with a Maven to be able to bring this improved device to market.” – Ventures Team Lead