A global supplier of polyphenol extracts wanted to understand the need for its products in the dietary supplements market. To do so, the client’s sales team wanted to identify potential manufacturers and suppliers of nutritional supplements that might need such extracts in their products. However, they knew that without a thorough understanding of the market, the market potential of key brands, and the composition of nutritional supplements of tea polyphenols and intermediaries using tea polyphenols, it would be difficult to crack the market.
Business challenge
The client, a global manufacturer of green tea and polyphenol extracts, was looking to explore and capitalize on the need for its products in the dietary supplements market. To do so, the client’s sales team wanted to identify potential manufacturers and suppliers of nutritional supplements that may require such extracts in their products. However, they knew that without the understanding of the market, the market potential of key brands, and the composition of nutritional supplements of tea polyphenols and intermediaries using tea polyphenols, it would be difficult to crack the market.
Solution
The client partnered with Netscribes, who provided the requisite insights through a combination of primary and secondary research using a top down approach.
Netscribes first identified a list of brand manufacturers and suppliers through various secondary sources, including public and private databases, company websites, market reports, and scientific journals.
It further carried out primary research by identifying and interviewing key stakeholders and decision makers from the list of manufacturers and suppliers to provide the client with insights on the market, key brands and their compositions, detailed product descriptions with information on pricing, availability, and pack size. It also provided the client with profiles of the identified companies along with their financial details, key strategy, recent news, and key people profiles.
Through personalized conversations, Netscribes was also able to establish meetings with the
prospects for the client’s sales team in the target geographies.
Read more: Successful Launch through Market Entry Research
Benefit
Through Netscribes’ research insights, the client was able to understand the needs, pain points, and market information and effectively identify the right customers for its product. The insights also helped the client evaluate the market scope and focus on future expansion.
