Market research, understanding consumer behavior and key buying factors – are mandatory steps in the overall project for right and successful launching of any product or company on a new market. Therefore, our company performing such a research (even separately from the project of launching to a new market) considering the purpose of research is not the research, it is the result, which should allow client to achieve high sales and profit.
Usually for understanding situation, consumers and further actions on the market there is no need in carrying out deep and large-scale study, it is enough very small, but specific information. We openly say it to our customers as our main goal – not getting a single income, but to have long-term cooperation on the entire range of our services.
In market research we do study market structure, its trends and volumes, competitors, customers and consumers (consumption behavior and motifs).
Methods of marketing research:
• Desktop research.
• Field search, interviews, focus groups, visits and research of competitors products.
• Expert interviews and etc.
The real picture of the market (market map), its current situation, the potential (market capacity) and forecast of market growth are the results of the marketing research and market analysis.
Researching and setting up of primary knowledge about the market:
• Collection and analysis of general information about the market
• Analysis of structure of the main segments of market
• A brief analysis of the major players in the market
• Detailed analysis of the market players chosen by client (general characteristics of the player, the distribution structure, structure of the products range and the services, the target audience, use of channels of promotion, assessment of the marketing budget, customer support services, etc.)
• Analysis of foreign players in the market (if applicable).
Working with industry experts:
• Conducting interviews with market experts in order to obtain detailed information about the market, customers and competitors.
• Analysis of the reliability of the data obtained from public sources.
• Identify factors affecting the dynamics of the market growth: on the products and services, promotion channels chosen by main market players and for customer segments.
Research and analysis of consumers:
• Conducting interviews with consumers
• Consumer testing. Determination of the basic needs of customers, product requirements, service to the sales process and to after-sales service.
Prepare summary report of market research:
• Market summary. Volume of the market, market structure in the consumer segments, in the segments of products, in types of players by sales channels.
• Detailed analysis of market players
• Analysis of customers needs and requirements
• Forecast for market growth
• Recommendations and conclusions: segmentation of clients, product categories and services, effective promotion channels.