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Client Consult Problem Statement:

The company (client), a leading manufacturer of hearth, was interested in project involving “Hearth Market”. The study also demanded to define, describe, and forecast the hearth market on the basis of fuel, product, style, and region. The client also wanted to strategically analyze micro-markets with respect to individual growth trends, future prospects, and contribution to the total market. The hearth industry has matured over two decades and during this period; it has experienced some serious cyclical ups and downs. The client wanted to understand the scope of Electric Hearths which are getting more commercialized and are environment friendly

Solution Provided:

This study 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 . By conducting numerous in-depth market evaluation using foundations of both qualitative & quantitative interview approaches along with the expertise of consulting team at MnM.MnM also obtained information on, usage trends, future growth prospects for target end user industries from Hearth Market. 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

  • MnM’s client was able to understand the current scenario of the Hearth market. Also, the market forecasts were provided to focus client’s attention to the high growth markets of Hearth.
  • The competitors benchmarking also helped to understand the client’s present situation in the market and further helps the client to make short and long term strategies to gain the market share in the Hearth market
  • Client was provided with information such as product life cycle analysis, environmental impact and price analysis

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