A new report from Guidehouse Insights explores consumer sentiment surrounding the market for lighting controls and provides detailed and actionable recommendations for lighting control developers and manufacturers to increase consumers’ perceptions of the value of control systems.
The market for lighting controls is growing and they are an increasingly important source of revenue for manufacturers. Nonetheless, the sentiment among many consumers is that lighting controls are overpriced. According to a new report from Guidehouse Insights, lighting control manufacturers must both understand the basis of consumer apathy and accommodate their negative reactions to prices.
“Specific lighting industry business practices, as well as pervasive biases that influence consumer attitudes and decision-making, negatively affect purchasers’ perceptions of the value of lighting controls,” says Wendy Davis, senior research analyst with Guidehouse Insights. “A range of strategies can help manufacturers overcome consumer pushback against lighting control equipment prices, including modifying the design of lighting control components to engender increased value in the minds of users, challenging industry norms, and adjusting corporate pricing strategies.”
Furthermore, equipment manufacturers must better understand, acknowledge, and account for the vital contributions of a range of lighting professionals involved in the successful deployment of advanced control systems. This labor affects costs incurred by customers, but also creates opportunities for new stakeholder partnerships, according to the report.
The report, Overcoming Lighting Controls Pricing Pushback, analyzes the basis of consumers’ tendency to undervalue lighting control hardware, software, and services, leveraging research from a range of disciplines on consumer behavior. It also provides detailed and actionable recommendations for lighting control developers and manufacturers to increase consumers’ perceptions of the value of control systems. An executive summary of the report is available for free download on the Guidehouse Insights website.
For more information, visit www.guidehouseinsights.com.