Identification of 2nd target market for materials startup
Project scope
Categories
Market research Competitive analysis Customer segmentation Market expansion Sales strategySkills
target market marketing research market segmentation advanced composite materials market analysis competitive analysis industry analysis automotive industry aerospace industry wind powerSCALE 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 cycling and racket sports. However, the commercial and environmental potential of the company lies in larger markets including automotive, wind power, aerospace, construction and more.
The use of composite materials—such as carbon fiber—in these markets promises to replace steel and aluminium to make products and equipment lighter, more efficient and higher performing.
We want to better understand the dynamics and the requirements of these different verticals, and the intersection with SCALE's unique added value, to identify our next target market after sporting goods.
We would like to collaborate with students to conduct market research into one or all of the different verticals, and potentially into different subsegments.
This will involve several different steps for the students, including:
- Familiarizing themselves with SCALE's values, technology and products
- Researching target verticals, market potential and dynamics, regulatory requirements etc.
- Researching the industry and competitive landscape
- Recommending a second target market for SCALE
Bonus steps in the process would also include:
- Recommending a market-entry strategy, positioning and messaging into a "low-hanging fruit" subsegment.
This project can be adapted to suit student groups of different sizes, course hours, learning requirements etc. For example, by focusing on a specific vertical and/or sub-segment, or dividing verticals between groups of students. 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 target vertical requirements and market potential
- Understanding of industry and competitors
- Recommendation for a second target market after sporting goods
Bonus steps would include:
- Recommendations for a market entry strategy in the relevant vertical
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.