As we know, the agricultural world is constantly changing with increasing reliance on digital technologies, restrictive regulations on farming practices, global uncertainty, and volatile market prices. Our client wanted to understand the current challenges and needs of farmers, as well as their future ambitions and plans, in order to develop offerings that meet their evolving requirements.
Our client needed market research to achieve two main objectives: first, to ensure that their current offer aligns with farmers' needs and identify any gaps; and second, to inform their strategic planning for future developments to remain relevant to farmers' evolving needs.
Cost of not finding a solution
Failing to know the market could lead to several risks, including:
- Offering products and services that do not meet farmers' needs, resulting in poor sales performance
- Missing opportunities to increase market presence
- Developing a future strategy or offerings not aligned with customers' needs or maintaining the status quo in a changing market, leading to a progressive loss of market share.
We proposed a customer/grower journey research study consisting of two stages: an exploratory qualitative stage followed by a quantitative stage for validation and prioritization. The qualitative stage involved in-depth one-to-one interviews with a limited number of typical farmer profiles to deeply explore their practices, current and future challenges, and needs. The quantitative stage focused on prioritizing challenges and unmet needs to help our client identify areas requiring immediate attention.
The research program outcomes enabled our client to:
- Identify quick wins by filling market gaps with existing products or services from their portfolio not yet available in the research area
- Build a strategic plan for future investments in R&D, knowing the most pressing areas where innovation and investment are needed, thus avoiding dead ends and targeting R&D budgets for optimal ROI