Expanding New Product Portfolio Based on Insight from Market Research

In recent years, the air pollution issue has become a global concern, including in Indonesia. Major cities such as Jakarta, Bandung, and Surabaya face challenges of poor air quality, which necessitates the need for air monitoring and purification technology. On the other hand, the development of the electronics and IoT (Internet of Things) industry in Indonesia offers great opportunities to integrate air sensor modules into smart devices.

The Story

A technology company is working to expand its product portfolio by introducing new products in the Indonesian market. The products to be marketed include Air Sensor Modules that can be used for electronic devices such as Air Purifiers and Air Quality Monitoring Systems, as well as the Air Quality Monitoring System devices separately. This product comes as an innovative solution amid the increasing awareness of the community and industry about the importance of air quality, both for health and the comfort of work and living environments. Because of that, they contacted Monica & Co Business Advisory to seek assistance to gain deeper insight regarding the Air Quality Monitoring System market in Indonesia and a go-to-market strategy in order to expand their product portfolio.

To overcome this problem, Monica & Co Business Advisory tries to structure the business problem and decide market research objectives in order to solve this problem. Not only that, we also did a thorough analysis, such as market analysis, consumer analysis, demand analysis, and competitor analysis. Market analysis provides an overview of how the Air Quality Monitoring System market in Indonesia works, market size, market segmentation, estimated revenue that can be obtained by a technology company, as well as the challenges and opportunities that exist. Consumer analysis provides an overview of customer targets, pain points, and their needs. Demand analysis is used to check if there is demand for the products that will be sold. Meanwhile, competitor analysis provides an overview of competitor services and their marketing strategy.

Our Approach

From our analysis, we find that the electronic components market in Indonesia is predicted to have a significant growth of 8.3%. Meanwhile, looking at the global opportunities available, the electronic components market, particularly air quality sensors, has a market size of USD 4.21 billion in 2023 and is predicted to grow to USD 7.99 billion by 2030. Furthermore, the growth rate is expected to be significant at 8.36% from 2024 to 2030. This market relies on the growth of the manufacturing industry in Indonesia. If there is a slowdown in growth in the manufacturing industry, it can lead to a slowdown in demand or a decrease in sales in the electronic component industry.

Monica & Co Business Advisory also gives some go-to-market strategies for a technology company to expand its Air Quality Monitoring System product. The first strategy that we recommend is to focus on brand awareness. They must try to make their brand easy to find online through websites, ads, etc. This is aligned with our research findings that the behavior of target customers prioritizes independent research or internet searches before deciding to make a purchase from a supplier. In addition, websites also have the potential to provide credibility to the business and a close rate of 61.4%.

The second strategy is to utilize inbound marketing and lead generation. Some inbound marketing tips that we recommend such as:

1. Optimize the website with keywords such as "air sensors for Air Purifiers," "Air Quality Monitoring Systems," and the advantages of the EC Sense sensor.

2. Organize a free webinar discussing IoT trends, the importance of air quality monitoring, and the potential use of air sensors in various industries.

3. Share educational content, case studies, or relevant articles to attract the attention of B2B professionals on LinkedIn.

4. Create visual content that explains how air sensor technology works with engaging animations or product demos on YouTube and Instagram.

The last strategy that Monica & Co Business Advisory recommends is to optimize cold outreach. A technology company's sales team can send an email or directly approach the electronics manufacturing company, air purifier developer, or health equipment distributor with a product proposal offer.

After gaining important Air Quality Monitoring System insight and go-to-market strategy recommendations from Monica & Co Business Advisory, a technology company has already created its company website. With our strategy, they hope they can expand their product portfolio, which is the Air Quality Monitoring System, successfully, and get new clients.

The Impact

*We take our clients' confidentiality seriously. While we've changed their names, the results are real

If your company need from professional regarding market research, marketing strategy, go-to-market strategy, or anything that related to your business, you can contact us through this link

Fashion

E-Commerce

Wellness

The Power of Early Insights: Saving A Startup from Branding Pitfalls

An E-Commerce Platform Bounces Back with Several Strategies

How a new fashion startup save its capital before it is too late by validating their business ideas and brand positioning.

Reviving an e-commerce brand through tailored strategies grounded in industry insights and future-forward market shifts.

Translating Market Insights Into New Product Development

A company that focuses on corporate wellness wants to launch a new product development and needs our help in defining the right segments to serve and capture their needs.

How We Helped Our Clients

Ready to talk?

We’re eager to hear from you! Please fill out the form below and let us know how we can assist you.