Project Background

Intelligent door lock refers to a door lock product that realizes unlocking function through electronic identification technology and network communication technology. Compared with traditional door locks, smart door locks have higher security and convenience, so they are favored by the market. In recent years, the scale of the smart door lock industry has continued to expand, and the market demand has continued to grow 1. Biometric recognition technology is one of the core technologies of intelligent door lock, including fingerprint recognition, facial recognition, iris recognition and so on. The application of biometric technology improves the performance and function of smart door locks, and provides users with a more convenient and safe experience.

Shangpu Consulting Company is a well-known independent third-party research and investment and financing consulting agency in China, dedicated to providing professional solutions for corporate strategic decision-making 3. Shangpu Consulting has rich experience and professional knowledge in the field of smart home, and has provided market research, investment consulting, IPO listing consulting and other services for many smart home enterprises.

A smart door lock company (hereinafter referred to as the customer) is a leading manufacturer of smart door locks in China, and its main products are smart door locks based on biometric technology. Customers have a high share of the domestic market, but are still in their infancy in the international market. Customers hope to understand the development of the international market and competitive landscape through the professional services of Shangpu Consulting, and provide guidance and support for their international market expansion.

Customer pain points

The main pain points faced by customers are the following:

The lack of systematic and in-depth understanding of the market size, growth trends, consumer demand, competitors and other information in the international market makes it difficult to formulate effective market entry strategies and marketing programs.

The laws and regulations, cultural habits, and consumer preferences in the international market are quite different from those in the domestic market. Targeted product design and service adjustments are needed to adapt to different market environments and user needs.

Channel construction, brand promotion and after-sales service in the international market require a lot of manpower, material and financial resources, and a reasonable cost-benefit analysis is needed to ensure the feasibility and profitability of market expansion.

Project Purpose

According to the needs and pain points of the client, Shangpu Consulting has developed the following project objectives for the client:

Through market research on the international market, we provide customers with comprehensive, accurate and timely market information, including market size, growth trends, consumer demand, competitors, etc., to help customers understand the development of the international market and the competitive landscape, and to provide a basis for customers to formulate market entry strategies and marketing programs.

Through the analysis of laws and regulations, cultural habits and consumer preferences in the international market, we provide customers with targeted product design and service adjustment suggestions to help customers adapt to different market environments and user needs, and improve customer product competitiveness and customer satisfaction.

Through the evaluation of channel construction, brand promotion and after-sales service in the international market, we provide customers with reasonable cost-benefit analysis to help customers evaluate the feasibility and profitability of market expansion and provide guidance and support for customers to formulate action plans for market expansion.

Research object

According to the purpose and content of the project, Shangpu Consulting has identified the following research objects:

Potential users of smart door locks in the international market: mainly include users or buyers of smart door locks in residential, hotel, office buildings, schools and other places, as well as people who are interested in or have demand for smart door locks. The number of respondents is 1000, distributed in the United States, Europe, Japan and other major markets.

Smart door lock competitors in the international market: mainly include the main smart door lock brands in the international market, as well as other smart home companies related to smart door locks. The number of respondents was 20, covering different product types, prices, services, etc.

Experts related to smart door locks in the international market: mainly including analysts, consultants, scholars, media professionals, etc. in the smart door lock industry, as well as experts in laws and regulations, cultural habits, and consumer preferences related to smart door locks. The number of respondents is 10, with high professional knowledge and industry influence.

Project Content

According to the research object and the purpose of the project, the following project content has been designed:

Market research on the international market: collect market information on the international market, including market size, growth trends, consumer demand, competitors, etc., analyze and interpret the data, and output market research reports through questionnaires, telephone interviews, and Internet searches.

Analysis of laws and regulations, cultural habits, consumer preferences and other aspects of the international market: through interviews, literature research, case studies and other means, collect information on laws and regulations, cultural habits, consumer preferences and other aspects of the international market, conduct comparative analysis and summary, and output analysis reports and proposals.

Evaluation of channel construction, brand promotion and after-sales service in the international market: evaluate the feasibility and profitability of channel construction, brand promotion and after-sales service in the international market through market research, cost analysis and benefit prediction, and output evaluation reports and action plans.

Project Value

The market research projects provided by Champu Consulting to its clients have the following values:

To provide customers with comprehensive, accurate and timely international market information to help customers understand the development of the international market and competitive landscape

It provides customers with targeted product design and service adjustment suggestions to help customers adapt to different market environments and user needs, and improve customer product competitiveness and user satisfaction.

Provide customers with reasonable cost-benefit analysis, help customers evaluate the feasibility and profitability of market expansion, and provide guidance and support for customers to formulate market expansion action plans.

Through the market research project of Shangpu Consulting, the client has achieved the following results:

Customers successfully entered the United States, Europe, Japan and other major markets, to achieve the rapid expansion of the international market, to enhance the customer's market share and brand awareness.

According to the characteristics of different markets, customers have optimized and innovated their smart door lock products based on biometric technology, increased the functions and performance of the products, and met the needs and preferences of different users.

The customer has established an effective channel network, carried out targeted brand promotion, provided high-quality after-sales service, and enhanced the customer's market influence and user loyalty.

The customer has achieved the profit target of the international market and improved the operating efficiency and income level of the customer.

Shangpu Consulting Company provides customers with professional, efficient and high-quality market research services, which has won high recognition and trust from customers and laid a good foundation for long-term cooperation between the two parties.