– Please tell us about your business.
Our business is involved in the development of materials produced from C4 and C5 fractions (hydrocarbons with 4 to 5 carbon atoms) generated by refining naphtha separated from crude oil. Our range of products include synthetic rubber for tires, special synthetic rubber for automobile hoses and packings, latex for gloves, various adhesive tapes and materials for paper diapers, camera lens materials for smartphones, optical films for LCD TVs, etc.
– How did you know VisasQ?
I first came to know of VisasQ at a venture matchmaking event but did not have an immediate need for their services then. However, when our company launched a new mid-term management plan in 2017, the top management started an initiative to seek out new partnerships with external service firms. Since the corporate planning department was looking for resources to support their team’s research needs, we decided to try out VisasQ and integrate their services into our research process.
– How did VisasQ help?
The research team made the request to VisasQ for the first time as there was a request to seek information from downstream end-users about materials used in parts manufacturing. We also use VisasQ’s ‘Industrial Needs Survey’ to investigate and assess the market needs of our technology. In the ‘Industrial Needs Survey’, we received insights into the potential and future usage needs for one of our company’s technologies. We received about twenty suggestions in a week, and both the quality and quantity of the responses far surpassed our expectations. The advisors’ industry experience and their detailed responses to our screening questions helped us greatly in deciding which advisor to speak with. Although the discussion topic was related to a very specific material and technology, we were able to complete our research quickly due to VisasQ’s prompt assistance.
– How do you feel the benefits of using VisasQ?
Since we are a material manufacturer, it has always been difficult for us to have an opportunity to directly grasp the true needs of end users. However, by using VisasQ, we are now able to gather information on end users’ technical issues, market needs, hot technological trends, etc. Word of mouth had spread throughout the research department, and fifteen projects have been conducted with the help of VisasQ thus far in the concept planning phase and hypothesis verification phase in the initial stage of research. I have heard very positive comments from the researchers who conducted the interview like: “We were able to know the effective approach method (marketing method) of the developed product.” and “We were able to predict the issues that the developed product has or may have in the future.” The researched information is shared at internal study meetings and I believe our discussion have been very fruitful when we evaluate our hypothesis due to the expert advice and insights provided by the intended users of our product.
– How do you want to use VisasQ?
By using VisasQ, we can obtain direct insights from the end users’ point of view so we will continue to use the services to collect information on end users’ issues and needs. We are also considering speaking with those who are actually using B2C products in the form of group interviews. In addition, we plan to conduct an ‘Expert Survey’ through VisasQ and use the consolidated responses from multiple experts to validate our product development concept. Once development is in progress, we will consider getting advisors to review our promotional materials and provide ideas and suggestions for effective promotional strategies. Currently, the research department is increasingly using VisasQ’s services but in the near future, I’d expect the sales and marketing departments to also use VisasQ for market research when entering new markets such as in Asia.