It is important for AeroShield to enter the US market with its innovative product called aerogel, which will be applied to residential window glazing. Given the types of business analytics, the best option to analyze the collected data for the window market in the US is predictive analysis. It is based on the method of situational analysis and forecast of the future that allows exploring historical data to anticipate scenarios and trends emerging in the market/industry. Through it, AeroShield can plan its entry into the most attractive markets such as residential and commercial window markets with an effective strategy to prepare itself for upcoming challenges. This analysis uses data mining, statistical data, and historical data to assess future trends.
The marketing analysis assignment is also an essential tool for AeroShield to understand the market in which it is positioning itself. This analysis consists of analyzing research data that would help AeroShield understand the needs of its customers and define its target audience. It will help the company meet its competitors by looking at data surveys such as market size, market trends, market growth, and market profitability. Through the reviewed scientific articles, it is possible to say that this type of task could be applied using survey and statistical techniques.
The window and door manufacturing market is a growing industry. Residential windows in the United States are a huge market size with 50M+ units per year. Customers are seeking to buy new houses or renovate their existing houses replacing their current windows with those that can insulate the maximum indoor temperature and reduce energy use. AeroShield’s windows are made of the innovative nanoporous silica aerogel, the quality of which is comparable to glass. They are functional and save the maximum amount of heat indoors. Aerogel is less expensive than current alternatives in the insulated glass category, which comprises approximately 70% of windows in the United States. Therefore, AeroShield has the potential to replace standard insulated glass windows from the market. Moreover, the overall residential window market growth and energy-efficient trends contribute to the success of the company.