Market Research

Market Research Example

The Need: A neighborhood youth program was nearing completion of a major renovation and expansion to their building. While they were thrilled with the new facility, they needed to identify practical ways to help defray maintenance costs, building management costs and debt service.

How we helped: MGA generated a long list of service ideas, and identified potential area competitors and client constituencies for each idea. We then conducted extensive phone interviews and a handful of carefully chosen site visits. In just one month, we focused managers’ attention on the most promising revenue-generating options. We gave managers and board members a better sense of market pricing and costs for these various service options. We recommended staffing structures, and provided an extensive list of contacts, potential clients and possible partners for future followup.

The Results: During a time when managers were preoccupied with construction, and with managing their existing programs during it, we quickly provided extensive and actionable information they could put to use right away. Rather than relying on “gut instincts”, they learned that some of their ideas had real potential, but that some were laden with hidden risks or costs, and plentiful competitors.