Thern, Inc. partnered with an experienced research firm to conduct a blind market study aimed at uncovering what is important to users in the winch & crane industry. It focused on new concepts, expectations for lengths of warranties, product innovations, and online support services to better understand future needs of customers and industry applications.
What Did We Uncover?
The survey showed that 41 percent of respondents say that their demand for davit cranes and winches will increase in the near future. Suppliers must be able to meet this demand or customers will be forced to look for new providers. The survey looked heavily into what is important to customers. All respondents placed a high importance on product quality, reliability, knowledge and expertise, and delivery/turnaround time, with product quality and reliability rating the highest. The survey showed that Thern, Inc. is currently the market leader for the Industrial and Water/Wastewater segment, largely due to its reputation for maintaining high standards in product quality.
Key Drivers: Brand. Quality. Service.
Looking into the key driver analysis results from the survey, the industrial industry’s key driver is brand/reputation. Water/wastewater’s key driver is on-site engineering support, and for distributors it is customer service. All of these key drivers combined are critically important to the customer’s overall satisfaction.
In conclusion, the study found that “product quality” is the most important attribute for decision makers in both industrial and water/wastewater. Thern Inc. ranked highest across the board for product quality in both industries. Perhaps one of the most important take away from this study is the growth trend predicted for all segments. For a complete view of the findings please see the attached white paper.