Market Consultation and Market Research
Our focus on understanding your business issues and provide the right solutions and expertise through market research to uncover the potential through the insights you need in order to make impactful decisions that will help drive growth.
Whether your business is a multinational company or a single storefront, we believe innovation is the key to success, in both what you create and how you market your product/service and ideas. That’s why we continue to develop better methods to understand today’s consumers and find out their wants and needs. Our market research experts focus on understanding your business issues so they can recommend solutions that help you make an informed decision that leads to growth.
Why market research important for your company?
With effective market research, your company can gain invaluable information about your competitors, economic shifts, demographics, the current market trends and the spending traits of your customers. Market Research not only helps in identifying new business opportunities but also helps in designing marketing campaigns that will directly target the interest of your potential consumers and help in increasing sales.
With market research, you can reduce the chances of loss to a large extent. Before launching a product, you can identify potential problems and even determine the solutions. The research carried out after the launch of a new product can help you loopholes and devise plans to counter that loss and increase the profits.
Size of market
Whether you are entering a new market, expanding within a market or releasing a new product, it is crucial you understand the total size of the market – or the total revenue available in the market – before you make any investment decision.
The geographic location of customers (Target Markets)
Understand where you customers are coming from
Demographic description of customers. (Target Segments)
Identify customers and non-customers, and why they are or are not your customers.
Define target segments on the basis of age, sex, income, education, standard or living etc.
Analysis of market demand.
Understand the accessible market size – the size of the segment or segments that your business might realistically sell to.
Sales analysis by customers
Does the product meet customer expectations? Attitudes formed about the product and/or company. Improve ads, customer, conversions, commitment, and loyalty.
Consumer needs wants, habits and behavior
Understanding usage situations, including how, when and where the product is used. May include a real or virtual pantry audit.
Competitions analysis (sales, product, promotion, distribution channels etc.)
“Best Practices” study of “how does the market view us relative to the competition?” compares attributes and benefits of the product.