A leading global petroleum manufacturer looking to tap new markets sought to assess the market potential for piston and turbine engine oil in the aviation sector of 37 countries.
Challenge
As part of a broader market opportunity assessment, the client required greater insight into the market for Piston Engine Oil (PEO) and Turbine Engine Oil (TEO). The company sought to understand which industries were using these products in each of 37 countries, and the number of businesses within those industries, in order to scope out the size of the entire potential market.
Approach
Phronesis conducted extensive research in the target countries to extract the universe of businesses within the industries where Piston Engine Oil (PEO) and Turbine Engine Oil (TEO) were being used. With a focus on the aviation sector, Phronesis recommended a suitable sample size per country, and the profile of the companies and respondents to be interviewed.
A survey of senior business executives at aviation and manufacturing companies was conducted, with a focus on discovering production, imports, exports and consumption of PEO and TEO products. Estimates of airfields, clubs, and schools, the number of aircraft with piston and turbine engines, the number of pilots, and the number of maintenance companies were collected.
Results
Data and intelligence acquired through desk research and the executive survey interviews produced an estimate of the size of the potential market for PEO and TEO in each of 37 countries. The research findings also highlighted specific pain points and usage behaviors that would inform and help define the sales approach. This information enabled the client to develop a sales strategy to prioritise and tap this new market opportunity.
