Market Sizing

The Market Sizing practice at Phronesis™ is distinctive in that we employ a tailored approach to simply the complexities associated with market-specific dynamics. However, we have developed robust processes to undertake customised market-sizing commissions, which narrow the ambit of the enquiry in degrees, so as to produce accurate measures. Using a nuanced framework to sieve the market, we filter our market-sizing metrics by creating a Venn diagrammatic model of target population(s).  Instead of following a textbook approach, we rather synthesise tailored solutions taking stock of market realities, externalities and information access.

Our researchers utilise an ‘impending methodology’ access to the market sizing practice, where the how’s are contingent on market attributes such as availability and reliability of data points. Using secondary research as a starting point we test the hypothesis advanced in published sources through first-hand data gathering that allows for the balancing of any inherent/projected biases or missing information. Cross-validation and superimposition techniques are employed to ensure accuracy and quality of insights generated. In delivering market sizing solutions, it is imperative to account for cultural dynamics and mannerisms in the research design, which is why we also ensure that project teams include researchers with local experience.

Market Sizing 1

Case Studies >>
  • Luxury buyers perception tracking research
    Case Study
    Sector |Consumer Products
    • Our client , one of the largest strategy consulting firm  in the world was interested in conducting an annual research on luxury buyers , to measure the buying behavior of luxury consumers across the globe.

    • Phronesis Partners conducted the study in association with two of the world’s largest associations of luxury brands.

    Approach

    The objectives of the research were to identify where the luxury market will grow(where and who) , what will it take for luxury brands to win customers(customer preferences and buying behavior) and which are luxury segments that will grow in the future.

    Research was conducted to comprehend where the luxury buyers will be located and how will the luxury spending increase over the next 12 months.

    Research was conducted to understand what defines luxury for the consumers , craftmanship, heritage , innovation , quality or any other thing.

    Other factors such as how do people decide on their favorite brands , do they prefer personal or experiential luxury and  where does most of the spending occur , is it inside or outside the country were also evaluated.

    Extensive study was conducted to identify the top luxury brands as per the HNWI’s and what qualities do they look for in a store when making purchases and what would qualify as an ideal store.

    Value/Results

    The research and information helped our client to gain  insightful information about market for luxury commodities along with consumer behavior and preferences prevailing in this market which in turn helped them plan their future market strategy accordingly.

  • Identification and profiling of most sought after International management programs
    Case Study
    Sector | Education
    • Our client , a European University wanted to increase the international enrollments in its management programs. The client was interested in increasing both on campus and off campus enrollments particularly from the regions of Asia Pacific and Latin America. The client also wanted to understand the competition in the above defined market.

    • Phronesis Partners conducted exhaustive desk based research  to identify and asses top universities from around the world , offering both on and off campus management courses for international students.

      During the phase 2 of research , 3500 management aspirants who were planning to study internationally were surveyed across Asian and Latin American markets.

    Approach

    The objectives of the research were to identify the most sought after international universities by the Asian and Latin American students , asses key student segments and demographics , build detailed profiles of universities identified as top competition and suggest strategic recommendations and final insights.

    Various factors such as countries with maximum amount of student outflow for management programs along with  their desired destinations were evaluated.

    Detailed university profiles were prepared based on intelligence gathered through desk research and surveys.

    The results were collected and analyzed through statistical methods to churn out various insights.

    Value/Results

    The research and information helped our client to gain  insightful information about the current trends in the student outflow market for management study. Also , the reports helped our client to understand and analyze the competition. By the help of the results from the research , our client was able to see a rise in the number of international students from the intended regions.

  • Education Sector – Market Opportunity Study
    Case Study
    Sector | Education
    • Education sector in UAE has great potential in terms of growth, expansion, demand and size. Our client is a leading international  education brand and wanted to enter into UAE.

    • UAE

    Approach

    • Detailed profiles of 3 major players were presented to the client.
    • Research findings enabled the client to identify the opportunity for entering into UAE education sector with effective market entry strategy.

    Value/Results

    • The main area of the study was to gather detailed understanding of UAE education sector such as:

    ̶Current market size

    ̶Macro and micro economic trends

    ̶Key drivers leading the growth of sector

    ̶Segmentation analysis in higher education

    ̶Government initiatives for sector’s growth

    ̶Demand potential

    ̶Market regulations

    ̶Competition analysis

    • Qualitative and quantitative research methods were used to collect the information with the combination of primary and secondary data
    • Secondary research was used to understand micro and macro environment factors, market regulations and major players in high education
    • Interviews were conducted with policy makers, influencers, key opinion leaders and experts to understand

    ̶Overall growth and potential of education sector in UAE

    ̶Key growth drivers, competition and estimated market share in high education sector and course offered under higher education

    ̶Deep dive on macro economic trends

    ̶Support from local and national government

    ̶Promising opportunities for private players

    ̶Barrier for entering new foreign players

    ̶

    • Competition analysis was applied using five forces model
    • Highlighted the factors driving the demand potential for higher education in UAE
    • Segmentation analysis was applied to support our client to understand various sub segments that exists in high education sector
    • Location analysis was conducted to help our client finding better place to set-up in UAE
  • Protective Apparel Equipment – Market Intelligence Study
    Case Study
    Sector | Energy & Utility
    • The research objective was to gather market intelligence for protective apparel equipment and support our client to strengthen its brand.

    • ASEAN Markets

    Approach

    • Secondary research was conducted to estimate the market size, potential and competition
    • Primary research and In-depth interviews were conducted with decision makers for protective apparel equipment
    • Job titles targeted were mainly COO, Director, Procurement Manager, Purchasing Manager
    • Mid size (100-499 employees) and large size (more than 500 employees) companies were covered operating in industrial segments such as chemical, general manufacturing, petrochemical and utilities

    Value/Results

    • Delivered English transcripts of interviews along with summary report of finding from secondary research. In addition to this, key profile of executives involved in decision makers were provided to help client for business development.
    • Client was able to analyse the critical factors and its impact on the business. Research findings were used by the client to develop targeted sales and promotion strategy. Key executive profiles were used by the client to target right people for sale of its products.
  • Ownership of Jets – A study with the UHNWI’s
    Case Study
    Sector | Financial Services
    • A leading company in the private jet industry was launching a new service with a new structure of ownership and was interested to evaluate the market for the respective service. The objective of the research was to understand the views of UHNWI’s about the ownership of private jets and the expected usage and the need for private jets in the next 12 months.

    • In depth discussions were conducted with 60 UHNWI’s across the globe to explore their willingness to adopt fractional ownership.

    Approach

    A detailed discussion was held between Phronesis™ research team and client’s project team to understand the overall objective of study, key product lines for which information was required, profile of samples. Following to it the research team designed the detailed stud plan, methodology, sampling design, questionnaire and coverage plan for client’s approval

    Research was conducted with the focus of  understanding the views of UHNWI’s on ownerships model of private jets and their expected usage of private jets along with their needs of private jets in the next 12 months.

    UHNWI’s views about their current usage of private jets and the likelihood of using it in future were also collected.

    Value/Results

    The finding of the surveys helped our client to gain  insightful information about the usage and need for private jets. Study findings helped our client to understand that there is a huge untapped market for fractional ownership with a great potential to grow.

  • Study on Business Innovation in Pharmaceutical Sector
    Case Study
    Sector | Financial Services
    • The objective of the research was to understand the different types of innovation used by pharmaceutical companies to develop competitive advantage.

    • Specific target countries were US, Brazil, Mexico, UK, France, Germany, Italy, Spain, Portugal, Sweden, Netherlands, Switzerland, Russia, India, China, Australia, Hong Kong, Malaysia, South Korea, Japan, UAE and Saudi Arabia.

      A total of 2,000 interviews were conducted.

    Approach

    Interviews were conducted using a mix of  the online business panel and telephonic approach.

    Key information areas covered during the research were :

    • Identification of the creative approach and methods used by business to streamline their production process
    • Determination of the areas where businesses are looking to improve using creativity and innovation
    • Parameters used by businesses to benchmark their process performance before and after innovation
    • Talents and skill sets employed by businesses to bring into innovation
    • Critical business process, challenges and barriers to implement innovation

    Value/Results

    Benchmarking analysis was conducted to understand how organizations  differentiate in their business strategies, products and services using innovation.

    Study findings enabled our client to help and consult its clients with innovation across business models and prepare for developing competitive advantage in each of the target countries.

  • Luxury buyers perception tracking research
    Case Study
    Sector | Media & Entertainment
    • Our client , one of the largest strategy consulting firm  in the world was interested in conducting an annual research on luxury buyers , to measure the buying behavior of luxury consumers across the globe.

    • Phronesis Partners conducted the study in association with two of the world’s largest associations of luxury brands.

    Approach

    The objectives of the research were to identify where the luxury market will grow(where and who) , what will it take for luxury brands to win customers(customer preferences and buying behavior) and which are luxury segments that will grow in the future.

    Research was conducted to comprehend where the luxury buyers will be located and how will the luxury spending increase over the next 12 months.

    Research was conducted to understand what defines luxury for the consumers , craftmanship, heritage , innovation , quality or any other thing.

    Other factors such as how do people decide on their favorite brands , do they prefer personal or experiential luxury and  where does most of the spending occur , is it inside or outside the country were also evaluated.

    Extensive study was conducted to identify the top luxury brands as per the HNWI’s and what qualities do they look for in a store when making purchases and what would qualify as an ideal store.

    Value/Results

    The research and information helped our client to gain  insightful information about market for luxury commodities along with consumer behavior and preferences prevailing in this market which in turn helped them plan their future market strategy accordingly.

  • Protective Apparel Equipment – Market Intelligence Study
    Case Study
    Sector | Government
    • The research objective was to gather market intelligence for protective apparel equipment and support our client to strengthen its brand.

    • ASEAN Markets

    Approach

    • Secondary research was conducted to estimate the market size, potential and competition
    • Primary research and In-depth interviews were conducted with decision makers for protective apparel equipment
    • Job titles targeted were mainly COO, Director, Procurement Manager, Purchasing Manager
    • Mid size (100-499 employees) and large size (more than 500 employees) companies were covered operating in industrial segments such as chemical, general manufacturing, petrochemical and utilities

    Value/Results

    • Delivered English transcripts of interviews along with summary report of finding from secondary research. In addition to this, key profile of executives involved in decision makers were provided to help client for business development.
    • Client was able to analyse the critical factors and its impact on the business. Research findings were used by the client to develop targeted sales and promotion strategy. Key executive profiles were used by the client to target right people for sale of its products.
  • Comfortable Room Product Basket – HVAC
    Case Study
    Sector | Manufacturing & Construction
    • Germany, Austria, France and Belgium.

    Approach

    • Primary research included in-depth interviews with respondents who were worked in construction industry (higher level positions, at least manager or purchasing); installers; distributors of heating related products etc.
    • The research focus was mainly on the new and renovated buildings.

    Value/Results

    • Helped client to understand the end user market for HVAC
    • Delivered intelligence for specific OEMs’ and Distributors
    • Summarized the findings by following segments:

    -Commercial – New

    -Commercial – Renovation

    -Residential – New

    -Residential – Renovation

    -Industrial – New

    -Industrial – Renovation

    • Overall, the client was able to understand the current and future market potential for Comfortable Room Product Basket (HVAC*) and identify the key trends and changes that are impacting the Comfortable Room Product basket (HVAC) market
  • Protective Apparel Equipment – Market Intelligence Study
    Case Study
    Sector | Manufacturing & Construction
    • ASEAN Markets

    Approach

    • Secondary research was conducted to estimate the market size, potential and competition
    • Primary research and In-depth interviews were conducted with decision makers for protective apparel equipment
    • Job titles targeted were mainly COO, Director, Procurement Manager, Purchasing Manager
    • Mid size (100-499 employees) and large size (more than 500 employees) companies were covered operating in industrial segments such as chemical, general manufacturing, petrochemical and utilities

    Value/Results

    • Delivered English transcripts of interviews along with summary report of finding from secondary research. In addition to this, key profile of executives involved in decision makers were provided to help client for business development.
    • Client was able to analyse the critical factors and its impact on the business. Research findings were used by the client to develop targeted sales and promotion strategy. Key executive profiles were used by the client to target right people for sale of its products.
  • Marine Lubricant market in the GCC region – Market analysis
    Case Study
    Sector | Oil & Chemical
    • Our client , a leading provider of marine lubricant wanted to have a detailed understanding of the marine lubricant market in the GCC region.

    • Interviews were conducted with decision makers for marine lubricant in the shipping companies and spot market agents.

    Approach

    The focus of the study was to estimate the current market size, key business drivers for decision making , competition mapping , understanding customer needs and competition and technical offerings in the local market.

    In addition to this , the client mandate was to understand the market size , segmentation, pricing m, key drivers and channels for selling marine lubricant oil across Saudi Arabia , Oman , Qatar and UAE.

    Competition , difference price points for key products , technical offerings , position strategy , strengths & weaknesses of competitors were analyzed using secondary research.

    The decision makers were interviewed to understand updated number/type of vessels , current lubricant oil requirement per annum , source of procurement , different price points , reasons for buying from their current source , views on usage ,future needs and expectations.

    Spot market agents were also interviewed to understand the current market size for oil , distribution channel and market segmentation.

    Comprehensive market analysis was conducted covering oil market competition , market size , segmentation , need-gap analysis and price benchmarking analysis.

    Value/Results

    A presentation was given to the client on actionable items to provide precise understanding of current marine lubricant market in the GCC region. Research findings helped the client to identify the areas of improvement and the direction for taking appropriate action to increase its market share.

  • Protective Apparel Equipment – Market Intelligence Study
    Case Study
    Sector | The client was able to understand the demand drivers for managed IT services among telecom service providers. Research findings were used by the client in its marketing campaign for Managed IT and Consulting services
    • The research objective was to gather market intelligence for protective apparel equipment and support our client to strengthen its brand.

    • ASEAN Markets

    Approach

    • Secondary research was conducted to estimate the market size, potential and competition
    • Primary research and In-depth interviews were conducted with decision makers for protective apparel equipment
    • Job titles targeted were mainly COO, Director, Procurement Manager, Purchasing Manager
    • Mid size (100-499 employees) and large size (more than 500 employees) companies were covered operating in industrial segments such as chemical, general manufacturing, petrochemical and utilities

    Value/Results

    • Delivered English transcripts of interviews along with summary report of finding from secondary research. In addition to this, key profile of executives involved in decision makers were provided to help client for business development.
    • Client was able to analyse the critical factors and its impact on the business. Research findings were used by the client to develop targeted sales and promotion strategy. Key executive profiles were used by the client to target right people for sale of its products.
  • Machine to Machine Technology - Market Assessment Study
    Case Study
    Sector | Tech & Telecom
    • Our client , a worldwide provider of machine to machine technology  wanted to assess the market potential by gaining deep understanding of deployment of such technologies among SMBs & large business and their needs.

    • Quantitative interviews were administered among decision makers for connected machines across Americas, Asia, Europe and Middle East region.

    Approach

    Identification of the potential industries that are currently using or have huge potential to use connected machines in the near future.

    Target verticals were professional services, Construction, Retail & Wholesale, Healthcare, Manufacturing, Real Estate, Transportation and Financial Services.

    Information covered during the research included :

    • Different types of connected machines installed and running
    • Frequency of using each type of connected machine
    • How needs are changing over a period of time for each SMBs and Large organizations
    • Current gaps in what is available/offered in the market and what is expected
    • Reliability and efficiency of current products to meet the business objectives
    • Future market demand and potential for such technologies
    • Most critical factors that drive the need to deploy M2M technologies

    Value/Results

    Survey data was populated into client specific charts and graphs in a Power Point Presentation format along with Executive Summary. It helped the client to quickly detail out the report with minimal efforts and develop a comprehensive solution for its product development and marketing team for further actions.

    Research findings were used by the client to support its new product development initiatives and helped the marketing team to develop and execute the robust marketing plan across the targeted markets.

  • Customer Satisfaction Research
    Case Study
    Sector | Tech & Telecom
      • Our client is a leading provider of unified communication products and services for medium to large size businesses worldwide
      • The objective of the study was to understand the satisfaction level among client’s customers towards unified communication and capture the views of competitors’ customers towards client service offerings and their switching behaviour
    • US, Canada, UK, Germany, France, Italy & Spain.

    Approach

    • The research focus was to assess the satisfaction level among its current customer, service offerings of competitors and competitors’ customer views towards client services
    • Questionnaire development process included designing two set of questionnaire by coordinating it with the client

    Customer’s questionnaires was focused towards

    -Current usage

    -Service quality

    -Service experience

    Competitors’ customer questionnaire was focused towards

    -Current service offerings

    -Price sensitivity

    -Switching

    • Primary research was carried out where in-depth interviews were conducted with current customers of client and competitors customers via phone. 100 interviews were conducted for client customers and 200 interviews for competitors’ customers
    • Data Analysis:

    -Advanced statistical techniques were used to understand the relationship between specific aspects of customer experience, overall customer satisfaction and customer loyalty

    -Competition analysis was conducted using Porter’s Five Forces Model

    -Need gap analysis was conducted for competitors’ customers

    -Basic charts and graphs were produced as per client ‘s requirement

    Value/Results

    • A detailed report was presented which enabled the client to understand that:

    qPackage price, bundle price, picture quality, downtime, customer support are the key drivers for customer satisfaction

    qCompetitors’ customer were ready to switch to other service providers if receiving better service quality, low price and channel selection facility

    • Drivers of customer satisfaction was also highlighted during the study and provided separately to the client

    Finally, the key findings of the research were successfully integrated by client in its marketing plan to beat the unified communication market competition and increase the market share.

  • Managed IT Services – Demand Analysis
    Case Study
    Sector | Tech & Telecom
    • A leading telecom provider wanted to understand the demand assessment, purchasing process and vendor perception for Managed IT Services among telecom service providers.

    • North America, Latin America, Europe, Asia Pacific and Middle East.

    Approach

    • Primary research was conducted with telecom service provider organizations
    • Senior level professionals for instance CIO, CTO, Director- IT, Senior Telecom Manager were targeted who were knowledgeable about Managed IT Services and are experienced about organization’s usage of managed services
    • 50 in-depth interviews were conducted in each country.
    • Phronesis also supported the client in discussion guide development

    Value/Results

    The client was able to understand the demand drivers for managed IT services among telecom service providers. Research findings were used by the client in its marketing campaign for Managed IT and Consulting services.

  • Ownership of Jets – A study with the UHNWI’s
    Case Study
    Sector | Transport & Logistics
    • A leading company in the private jet industry was launching a new service with a new structure of ownership and was interested to evaluate the market for the respective service. The objective of the research was to understand the views of UHNWI’s about the ownership of private jets and the expected usage and the need for private jets in the next 12 months.

    • In depth discussions were conducted with 60 UHNWI’s across the globe to explore their willingness to adopt fractional ownership.

    Approach

    A detailed discussion was held between Phronesis™ research team and client’s project team to understand the overall objective of study, key product lines for which information was required, profile of samples. Following to it the research team designed the detailed stud plan, methodology, sampling design, questionnaire and coverage plan for client’s approval

    Research was conducted with the focus of  understanding the views of UHNWI’s on ownerships model of private jets and their expected usage of private jets along with their needs of private jets in the next 12 months.

    UHNWI’s views about their current usage of private jets and the likelihood of using it in future were also collected.

    Value/Results

    The finding of the surveys helped our client to gain  insightful information about the usage and need for private jets. Study findings helped our client to understand that there is a huge untapped market for fractional ownership with a great potential to grow.

  • Is Aircraft maintenance a viable business?
    Case Study
    Sector | Transport & Logistics
    • A renowned brand in the jet maintenance industry was exploring potential new markets for expansion.  Our client , a large strategy consulting firm was trying to understand the market for maintenance of private jets across China.

    • Phronesis Partners conducted research with business managers of UHNWI clients who own private jets.

    Approach

    What makes this research unique is the diversity in the management of jets. For some private jet owners , their jet is managed by their dedicated business managers whereas for some , it is managed by their organization’s logistics team.

    The challenge was to identify who specifically has the final say in terms of the management of jet. A multi-phased approach was used the Phronesis™ Research team wherein first the jet owners were contacted to identify specifically who is responsible for maintaining their jets.  According to the responses of the jet owners, the research was conducted with the concerned persons.

    Also, the willing to outsource the process of jet maintenance was evaluated.

    Value/Results

    The research and information helped our client to gain  insightful information about the jet usage behavior , awareness of jet management providers , experience of business managers in jet management and appealing attributes / decision drivers.

  • Passenger Vehicle Fleet – Market Potential Study
    Case Study
    Sector | Transport & Logistics
      • Our client, a European passenger fleet manufacturer wanted to expand into B2B segment.
      • The research was aimed to assess the market potential and explore new market opportunities for passenger fleet vehicles in B2B market across EMEA and Latin America.
    • Brazil, Mexico, Chile, Argentina, Saudi Arabia, UAE and Qatar.

    Approach

    • Phronesis identified businesses that are currently using fleets for client’s business operations.
    • A representative business population was covered by setting the quotas among 250-749, 750-999 and more than 1000 employees across Retail, Banking, QSR, E-Commerce, Transportation & Logistics, Government and Manufacturing
    • Primary research, interviews were executed among Fleet Managers, Fleet Owners and Transport Admin. Manager who are the decision makers for buying fleet

    Value/Results

    Research findings supported the client decision to expand its fleets into B2B segment across the target markets and helped the client to design the marketing and communication strategy to promotes its brand offerings across the target markets.