We provide comprehensive market research reports to our clients for a particular product or services in non-transparent jurisdictions. Our reports normally include the following analysis:
Market research information helps determine the latest economic trends in the market. This also includes the supply and demand of products. Moreover, our market researchers also help our clients in understanding several other aspects related to markets. These include political, economic, social, technical and sometimes even the legal aspects of the market.
Segmentation of the market
Market researchers can categorise the target group into defined, sub groups which represent different characteristics of the total population of an area or country. We apply a segmentation that is used to divide the population by their demographics, personality types, geographic differences, ethnic and racial differences and gender differences.
Trends of the market
We can determine the market trends over a specific period of time. The market trends may move upwards or downwards, or may even remain stagnant according to the conditions of the market. If a new product is being launched, which counts as an innovation, then determining the trends can be a challenging task. However, market research services provided with the help of our experienced market research personnel makes tasks easier and less prone to start-up failure.
SWOT analysis basically means unveiling and determining the strengths, weaknesses, threats and opportunities of a business. Our market researchers can help to determine all of these aspects for a business. When talking about a new product or innovation, it must be noted that a SWOT analysis is one of the most important studies that can be carried out by our market research company. Not only that, a SWOT analysis can also be carried out by a market research company in the middle of the product life cycle. Moreover, a SWOT analysis may also be carries out for the competitive firms in order to determine where they fall in the matrix as compared to your own business.
Effectiveness of the marketing efforts
Our market research information can be used to measure the effectiveness of the marketing efforts put in by the business. Marketing effectiveness may include analysis of the customers, choice modelling, analysis of competitors, risk analysis, advertising research, simulated test marketing etc.
What is Market Research?
Market research and analysis refers to the process of measuring the feasibility of a product or service through different techniques such as product testing, surveys, in depth interviews and focus groups. Through market analysis and research, a company is able to gauge whether it should launch a particular product or not. If a company has decided to launch a product, then studies pertaining to market research and analysis help decide on the target market and who the consumers will be. Moreover, marketing research helps decide what the consumers think about a particular product or service, before it is launched. Marketing research may be conducted by a market research group or a market research company such as our company. The sample population who is involved in the research process is usually given samples of the product or/and compensated for their time.
There are two different types of market research; primary research and secondary research. Primary research is further divided into two branches. These are qualitative research and quantitative research. Keeping all of these divisions and subsections in mind, market research revolves around several factors which influence it.