To be successful in business you need a solid understanding of the market place based on facts, data, analysis, and insight, not anecdotal information, or guess work. Market Research gives you the knowledge and insight to make better decisions to move your business forward.
Guess work and shooting from the hip are not the right approach for charting your company’s future and for creating profitable, sustainable growth. You can’t beat the competition if you don’t fully understand the dynamics of the market in which your company operates.
Whether you’re an established company trying to enter new markets, or a start up company launching a new product, you need a solid knowledge of the present, an understanding of the market trends, and a vision of what the future may look like.
Insufficient knowledge of the market is a major cause of poor business performance. You can’t rely on anecdotal information and intuition. You have to base your decisions on hard data.
Market Research – Not Just for Fortune 500 Companies
Not just for large companies, but for small and midsize companies as well, a practical, results-oriented Market Research program is key to developing a sound understanding of the market place.
Awareness of trends and shifts in customer preferences and buying behavior, as well as competitor strategies, is critical. Finding out where the growth opportunities are and how to capture these is key to achieving sustainable, profitable growth.
Market Research provides you with the quantitative and qualitative information you need to make better, smarter business decisions.
Market Research Capabilities
We offer focused, results-oriented Market Research capabilities for small and mid-size companies. We can design, develop and implement practical Market Research programs to get the answers to the critical questions your business is facing.
Satisfying customer demand and stimulating brand loyalty are key to your company’s profitability. Whether you sell products or services, you need to identify, measure, and track customer expectations. Knowing your customers better than anyone else allows you to refine your product development strategy, beat the competition and develop timely, pro-active responses to market forces and events. A highly effective and cost efficient tool for Customer Research is a well-designed Customer Survey.
Target Market Analysis
Which markets should you target? Which markets to enter? Which markets to exit? Identifying market segments and prioritizing specific target markets is another key aspect of Market Research that can help drive your company’s success. Who are your best customers and highest potential prospects? What are their problems that your company is uniquely positioned to solve? What are the demographics and psychographics of your target audiences? How can you best reach them? How do they perceive your brand, your company? What do they think of your competitors? Market Research provides the answers to these questions.
Which forces shape the industry and how can you take advantage of that? What might the industry look like in the next 3 – 5 years? We help you gain a better understanding of your industry, the main players, key events, and trends that will impact your business. With access to a wide range of data sources we provide the background information and assist you in making better business decisions.
Your customers have a choice about which companies they do business with. Why should they buy from you? To grow and become more successful in your market you need to understand key competitors and their strategies. How do they market their products and services? How do they differentiate themselves? What are their key strengths and weaknesses? What is their market share? How are they perceived in the market place?Our practical approach to Market Research gives you actionable insight about your competitors.
To find out more about how Market Research can provide the answers to key business questions, please contact us.