Lentune wanted to better understand their market sizing and product market fit including:
Insights Exchange Approach
To best determine the Total Addressable Market (TAM), Serviceable Available Market (SAM) and Serviceable Obtainable Market (SOM), Insights Exchange decided on a 2 -stage approach for the market research.
The first phase focused on a secondary research study to analyse the current Australian market and category. This was followed by a 5 minute online survey of n=100 owner/operators or decision makers in the construction industry including Commercial, Residential and Commercial Trade representatives.
We are excited to see Lentune has recently taken some of the outputs from the research to build a more powerful brand identity, including evolving their target audience to focus more specifically on the construction industry as well as adapting their value proposition to showcase their new strengths and offerings.
For businesses wanting to enter a new market, market sizing research helps outline the potential value and volume of a specific market segment your company wants to target.
Insights Exchange can help you discover the overall revenue opportunity that is available for your product or service (TAM), the portion of the market that can be specifically targeted with your product/service (SAM) and then the share of the (SAM) market that your service or product can realistically expect (SOM).
For more about what market research options are available to you, please see our Services page.
Insights Exchange has a network of over 35+ researchers globally including Australia, USA, UK and South East Asia. Our tech-driven approach and partnerships with fast-growth global research technology companies empower us to provide impactful market insights to businesses globally.
