Marketing Research for an e-Safety Product
Location: Sydney, NSW
Duration: 3 months
Proposed start date: ASAP
Keywords: Market Research Analysis, Desk Based and Field Research, Estimate Market Potential, Market Attractiveness, Segmentation
Sotaeria is a start up in the e-Safety field. They have developed a platform product consisting of intelligent field devices and a web platform. Their initial product is an intelligent barrier tape that can be deployed in seconds and monitors for breeches. As a connected device it can automatically report breeches as well as whether it is in use so that management can be assured that the safety system is in use.
They have been funded by a combination of Government grants and private support from our first customer. The system was initially developed for the container ports industry, but positive market feedback has shown that it has high potential in the mining, transport, manufacturing and services industries.
They are currently finalising their first customer trial and are proposing to test market into the Hunter Valley later this year. The market offer is likely to be a combination of an equipment purchase and a subscription service. Getting the balance right between initial sales and ongoing revenue will be critical.
Research to be Conducted
The proposed research has three main elements:
Understanding the current industry structure including supply chains, influence networks, information channels and corporate structures and decision paths for major customers.
Developing and trialling a test marketing plan aimed at:
- Exploring the potential size of the market for the existing product and our upcoming versions of the product.
- Achieving product market fit, especially around product features and revenue structure.
Developing and testing a promotion strategy including paid and unpaid channels of influence
This research task will then lead into development of a national strategy for a product launch.
We are looking for a PhD student with the following skills:
- Market research analysis skills on desk based and field research, data gathering and analysis
- Good communication and face to face presentation skills
- Comfortable with industrial environments, driver’s license and transport
- Knowledge of industrial markets
Sotaeria are trying to understand whether it is possible to create a new segment (e-Safety) within the broader safety market. They have chosen the Hunter Valley as a good, representative market that is close to our base.
The particular tasks are intended to achieve this based on an actual product and a broader product strategy. The broader intent is to discover if and what an e-Safety market is, what characteristics it might have and, potentially, strategies for creating and developing this market.
They are also trying to understand the potential scope of the market.
If the project objectives are met it will form the basis of a blueprint for the organisation based on creating a new market segment. This blueprint will then be developed into a business plan for which capital will be raised and an Australia -wide test market conducted prior to developing the concept into an international one.
The intern will receive $3,000 per month of the internship, usually in the form of stipend payments.
It is expected that the intern will primarily undertake this research project during regular business hours, spending at least 80% of their time on-site with the industry partner. The intern will be expected to maintain contact with their academic mentor throughout the internship either through face-to-face or phone meetings as appropriate.
The intern and their academic mentor will have the opportunity to negotiate the project’s scope, milestones and timeline during the project planning stage.
30 January 2019
INT – 0563