Challenge
Sunpower, a leading global solar panel manufacturer spanning operations in over 20 countries, embarked on a quest to illuminate its position within the solar power industry. Originating from Stanford University research in 1985, Sunpower has been a stalwart in solar panel production for 35 years. Seeking to gauge its competitive edge and avenues for improvement, Sunpower initiated an NPS study. Collaborating with Cognitive Market Research, an annual survey focused on the solar consumer journey was launched. Despite its established leadership, Sunpower aimed to gain deeper insights into its market position compared to competitors. The goal was to pinpoint strengths, identify areas for enhancement, and formulate an economic model based on research findings. Additionally, Sunpower aimed to refine its understanding of key competitors and discern vital factors influencing awareness, purchasing decisions, satisfaction, and referrals.
Solution
A potent method for gauging customer perceptions of a company's product is through the Net Promoter Score (NPS), ranging from -100 to 100, indicating the likelihood of customers recommending a product to others and serving as a metric for success and brand loyalty. Tracking NPS changes over time provides invaluable insights into a brand's product reception trajectory, signaling progress or regression. To delve into the solar power market, Cognitive Market Research conducted a thorough 30-minute survey comprising 80 questions aimed at customers with solar panels on their roofs, encompassing both Sunpower's customers and those of its competitors. Employing a structural equation model, the study identified key attributes influencing the NPS score and quantified their impact.
Result
The research culminated in a comprehensive report offering deep insights into the solar panel industry's market landscape and Sunpower's positioning relative to competitors. This annual analysis served as a benchmark for Sunpower to evaluate its performance against market rivals and gain clarity on the factors driving awareness and sales, empowering the company to compete effectively in the market.
