NCGrowth works with Babington Technology as they expand to new markets
by Greg Johnson
Headquartered in Rocky Mount, NC, Babington Technology is built on a foundation of ingenuity, innovation, and humanitarianism. Their products are built around their proprietary burner that atomizes fuel before combustion, allowing it to burn completely. This capability leads to clean, efficient, and safe heating that has been applied to off grid kitchen appliances for disaster relief and military field feeding operations.
Babington has recently completed the design of a new burner that they plan to enter into the home heating market. NCGrowth supported Babington by analyzing the home heating market and providing a report to be used in the determination of an entry market strategy.
The analysis focused on all aspects and stakeholders within the industry. NCGrowth analyzed the industry value chain to determine the needs of each stakeholder in the industry and looked into the types of heating equipment that is used in home heating today.
The final deliverable detailed the drivers, trends, and size of the residential heating market. It reviewed heating equipment options, the geographic regions where they are most popular, and costs/benefits of each product. It also analyzed popular residential heating fuels and the key stakeholders in the industry to understand purchasing decisions and the needs of each group. By uncovering this information and quantifying market segments, Babington was able to verify their entry market strategy with strong supportive evidence.
Greg Johnson is an NCGrowth Analyst and MBA candidate at NC State University’s Poole School of Management
NCGrowth supported Babington by analyzing the home heating market and providing a report to be used in the determination of an entry market strategy.