WHAT IS A MARKET RESEARCH?
A market survey involves observing, collecting, processing and synthesis – both quantitatively and qualitatively – the components of market makers to allow the company to define opportunities, objectives, strategies and actions already undertaken to assess the hostile economic environment, in constant evolution.
Assembly of required information requires research (documentation from office and field) and is performed using methods and statistical tools (questionnaire, interview, observation, comparison, bibliography, focus group, etc.), while data processing is place through statistical means (specialized software).
A market survey involves numerous analyzes, namely: analysis of market evolution, market potential and opportunities, target market segments analysis, analyze customer behavior and buying decision, competitive environment analysis and market positioning to them, trend analysis market, sector analysis etc.
WHY NEED OF A MARKET RESEARCH?
Whether you want to start a business, to improve or to develop, market analysis is the only tool that lets you discover the element that provides a strategic advance to the competitors that you will or have to deal. A market survey can provide market repositioning, expansion / restriction of the range of products / services or areas of distribution, so you get profit.
A market study will answer the following questions:
- What is the evolution of the targeted market and what are the future trends?
- What is/are the position of the company service / products on the market today?
- What are the products / services more profitable, which deserves to be developed and maintained?
- How to improve and diversify the range of services / products according to the market requirements?
- What strategy should be approached to get a better position on the market?
- What kinds of approaches have the competitors within the same market?
- For whom are they for and what are the most effective methods of communication?
Therefore, the market study will allow:
- Designing a new product / service, its launch, scaling, testing or improvement;
- Estimate the opportunities and risks of the market concerned, together with the association with new market segments, complementary products and services, new geographic areas;
- Budget planning, adoption and implementation of marketing strategies;
- Knowledge of customer preferences of the target market of your products / services;
- Estimation of potential and trends of product / service concerned;
- Knowledge of key, secondary or potential competitors on market for the product / service in question.
VERTICAL FINANCE PERSONALIZED MARKET RESEARCH
Whether you are planning to launch a new business or business development that you manage, a market research can provide market repositioning and strengthening the image, the brand and the products / services of your company. Vertical Finance consultants realize market researches of rigorous ad-hoc type and suitable to your company and the market in which you work, so you can respond to the needs and deliver the results you need.
With the help of market research prepared by our experts, you know the market dynamics with the specific opportunities and threats, the actors and consumers’ behavior, and trends on short, medium and long term of the market, so your decisions are well founded and successful.