Questions: HYDE, a leader in hand tools for DIYers and Professionals, needed to understand how various end-user groups viewed their brand, and what enhancements to their image would resonate with each segment.
Insight: The Farnsworth Group, with use of its proprietary online research panel of professionals and third-party DIYer research panel, developed a multi-phase online research initiative to address both DIY and Professional end-users.
Answers: The Farnsworth Group provided Hyde Tools with a comprehensive report of findings which helped identify key customer groups: where they shop, how they shop the aisle and what features and benefits they need. This initiative allowed Hyde Tools to revamp their products and merchandising to better target the brand’s customer.
Questions: ITW Brands needed information from decorative hook users for product development and packaging refinements to gain retail channel support and increase category revenue.
Insight: The market research firm, Farnsworth Group, with use of its proprietary B2B data collection service Specpan, assisted with questionnaire development and online data collection from DIY and Professional end-users.
Answers: The Farnsworth Group provide ITW Brands with a repot and summary of findings which guided their product enhancements resulting in a new line of decorative hooks. ITW Brands is gaining category share and increasing revenue through big box distribution.
Questions: Graco, a leader in fluid handling systems, needed to understand consumer paint usage and attitudes as well as product requirements for a new entry level DIY paint sprayer to be distributed through home centers.
Insight: The research consultants at The Farnsworth Group, conducted quantitative and qualitative research to define: consumer segments, usage/attitude patterns, brand perceptions, pricing elasticity and market opportunities among DIYers.
Answers: The Farnsworth Group provided Graco with several reports and presented market opportunities among DIYers. The Farnsworth Group also defined which product features and enhancements would yield a successful launch, and optimal price points for various levels of consumer-based paint sprayers.
Questions: Tree Island Industries, an international manufacturer of commercial and residential wire products, wanted to understand the existing U.S. and Canadian market size and distribution of specific fasteners, as well as channel behaviors/attitudes to understand potential market opportunities.
Insight: The professionals research consultants at The Farnsworth Group, conducted quantitative research among various channels and suppliers to understand: sales volume, channel segments, usage/attitude patterns, supplier brand perceptions, channel pricing expectations, and market opportunities among professional end-users
Answers: Through proper research design, and understanding what and how supplier information needed to be captured, The Farnsworth Group provided Tree Island with detailed market/channel maps that identified the current revenue stream for specific fasteners from manufacturer to end-user, which was essential for Tree Island to make long-term strategic decisions.