Market Validation Study for materials startup
Project scope
Categories
Market research Sales strategy Marketing strategy Marketing analyticsSkills
target market marketing budgets marketing strategies market size branding management sales market share researchThe main goal of this project is to validate the cycling market as the company's beachhead market.
SCALE develops bio-based materials that are designed to replace part or all the carbon fiber in products, reducing costs and emissions while maintaining or even improving performance.
Our first target market is sporting goods, initially the cycling and racket sports segments. We are seeing greater traction in the cycling segment and we are looking to gain a better understanding of that market to ensure it is the right beachhead market for SCALE.
Identifying the right beachhead is important for the early success of the company, in evolving towards profitability. it is also critical for longer term success, laying the foundation for expansion into other markets.
This will involve several different steps for the students, including:
- Familiarizing themselves with SCALE's values, technology and products
- Assess the dynamics of the carbon fiber bicycle market with metrics such as sales data and number/location of manufacturers, projected growth rate, current and future market size etc.
- Understand the sustainability requirements and commitments within the cycling segment globally
- Analyze other purchase drivers for materials in this market and the intersection with SCALE's differentiated value add
Bonus steps in the process would also include:
- Developing a marketing and sales plan for the cycling segment(s)
This project can be adapted to suit student groups of different sizes, course hours, learning requirements etc. We are open to discussion on the best way to achieve the company's objectives as well as the students' learning objectives.
By the end of the project, students should demonstrate:
- Familiarity with SCALE's materials and products, and their differentiating added value
- Understanding of cycling segment requirements, size, growth rate, dynamics, key players etc.
- Analyzed SCALE's current product line in the context of the cycling market
Bonus steps would include:
- A marketing and sales plan for the cycling segment
Final deliverables should include
- A final report
- A presentation
Providing specialized, in-depth knowledge and general industry insights for a comprehensive understanding.
Direct involvement in project tasks, offering guidance, and demonstrating techniques.
Scheduled check-ins to discuss progress, address challenges, and provide feedback.
Supported causes
Climate actionAbout the company
SCALE develops new bio-based materials to decarbonize advanced composites.
Carbon fiber is used in everything from bikes and tennis rackets to cars and wind turbines. It makes equipment lighter and more efficient. But it’s expensive and a single kilo generates up to 43 kilos of greenhouse emissions.
SCALE develops bio-based materials that are lighter and cheaper than carbon fiber, with a fraction of the greenhouse emissions. Our patent-pending technology blends multiple low-density natural fibers and improves performance to weight.
Our first customer, Reap bikes, replaced a quarter of the carbon fiber in their bicycle frame with our materials. It’s 15% lighter yet maintains the same performance. From cycling, we’ll expand into automotive, wind power, aerospace and more.