When California deregulated its utility industry, our client—a public utility and energy solutions company—wanted to develop a renewable energy product for consumer households and businesses. They also wanted to develop commercial and private consumer energy consulting services, home security and warranty services, electric car charging stations, and develop an outsourced utility infrastructure. They needed a solid market entry strategy to develop desirable products and reach consumers in this brand new, untapped market.
We conducted a full-scale market analysis to appraise the market size and determine energy supply needs and pricing economics. This led to deeper consumer research to fine-tune brand positioning, product offerings, and determine the appropriate product launch strategy.
This effort resulted in the development and introduction of an environmentally smart renewable energy offering called EarthSource. Our client was able to market a unique product line targeted to the key decision maker in households (women and gen X-ers) who expressed concern about protecting the environment from invasive energy production.
Our client successfully generated nearly $200 million in revenue across multiple, newly developed product lines. They attained new customers within 24 months of the new market launch and introduced the first environmental, retail energy product sourced from natural resources in California state history.