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BUSINESS CHALLENGE

The company (client company) is a Fortune 500 company and is involved in the packaging industry. It wanted to understand the opportunity of sensor based smart labels in food, chemical, pharmaceuticals, and retail industry. The company wanted to have a go-to-market strategy for its product which was in the R&D phase. This market already had temperature recorders which was a device and was widely being used by the end users and even third party logistics. The client wanted to understand what are the main points for the end user which can be an a opportunity for them to introduce their product in the market. They also wanted to understand the industry-wise regulations for this market.

MnM APPROACH

This study was carried out through a combination of extensive secondary research, followed by primary discussions with key opinion leaders, manufacturers, and their customers. Exhaustive interviews were conducted from sales, marketing, production, R&D, technical experts using a semi- structured questionnaire to understand and provide the in-depth analysis. Information regarding usage trends, future growth prospects for target end users was obtained by numerous in-depth market evaluation using qualitative & quantitative interview approaches along with the expertise of consulting team at MnM. The customers were interviewed to understand their current and forecast usage in various applications which further validated the market number through bottom up approach.

VALUE DELIVERED

• Interviewed approximately 50 key opinion leaders from the end users to get their perspective on the technology
• Gave the ideal cost breakup of this product and suggested the final price at which the labels should be sold
• Rate adoption analysis, demand sensitivity analysis, sensitivity to functionality analysis, and price differential analysis