Tailor-made market researches from sectorial overviews to specific in-depth analysis based on the client's needs in order to validate specific assumptions or a business model.
What Does a market research typically include?
- Information about the market and industry that is necessary to comprehend external factors
- The information needed to create a customer profile about potential customers
- Information on competitors needed to develop a competitor profile.
Investing in Industry and Market Environment Research
You should take into account any political, legal, economic, environmental, social, and cultural challenges or trends that may have an impact on your business when researching industry and market aspects.
Research on the business and market environments may include:
- business regulations
- market demographics (e.g. age, gender, income)
- market size and trends
- marketing channels
- sociographics (e.g. beliefs and attitudes, interests, lifestyle factors).
Researching Customers
Customer research can be used to learn more about your current and potential customers, as well as what, when, where, and how they shop. The attitudes of your customers toward your company, its goods, and services can be learned through customer research.
Consumer research may include:
- customer demographics (e.g. age, gender, income)
- social and lifestyle trends
- needs and expectations
- attitudes towards you and your competitors
Researching Competitors
You can learn both direct and indirect information about current and potential competitors through competitor research. You can obtain information on your competitors’ present market advantages, flaws in their advertising techniques, and client perceptions of their goods and services using competitor research.
Competitor research might include:
- current market share
- pricing structures
- products, services and/or experiences
- marketing, advertising and branding