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As your company grows, so does the need for more resources, manpower, products, or services. But before releasing the output to the public, you have to conduct a market research first.
It is more than the typical research process done by universities or interns. This involves testing the viability of your product or service and how well it could do when it’s launched to the open market.
Most companies tend to forget or neglect the importance of market research to their businesses.
This is where our role at appNsoft Solution can be of help to your business with our sister companies as follows:
Market Insights Reports
Industry Data Analytics
We can help you outsource business services to companies that offer reliable and satisfactory market research services.
Benefits Of Conducting A Marketing Research
Market Research is often underestimated in many industries. Several companies consider this method unnecessary and costly. However, there are several reasons why you should think otherwise.
- It is the key to communicate with your consumers and prospects
- It gives you valuable and relevant insight into the current market conditions
- It encourages new and strategic planning
- It increases the chance of market survival
- It establishes better market positioning
- And many more to consider!
Market research helps you understand your consumers’ preferences and get an idea of what your target market thinks about your products or services. It could also help you discover what your competitors are doing to market their own products or services.
In any case, this service definitely minimizes the risk of expense loss and facilitates effective business opportunities in the market.
Gives you an idea of what your target market thinks about your products or services.
Market Research Activities We Can Do For You
01.
Focus Groups
Bring together a group of people to analyze their preferences and get their feedback about your product.
02.
In-Depth Interviews
Better understand a person’s product preferences by conducting one-on-one interviews.
03.
Industry Analysis
Monitor the performance of public companies within your industry to better understand the market.
04.
Consumer Surveys
Ask customers a series of questions that will help you better understand how they feel about your products.
05.
Competitive Analysis
Find out what other companies are doing and how effective their business strategies are.
06.
Data Processing
Gain valuable insights from the data that you’ve gathered from your clients and competitors.
FAQs About Market Research & Consulting Service in Europe
Got a market research question that needs an immediate response? Any questions in mind are directly answered in this section.
Competitive analysis is a strategy that identifies your major competitors in the market and evaluates their products, services, sales, market share, and other marketing strategies to determine the strengths and weaknesses relative to your brand. It’s one of the best solutions to use when you’re lagging behind your competition. This allows you to create a solid and effective business strategy that can potentially outdo your competitors.
Quantitative and qualitative methods are different types of primary research where data are collected. Quantitative research refers to an investigative approach that emphasizes observation and gathers data from a small sample size. Qualitative research refers to the scientific approach that emphasizes numbers and surveys quantifiable data in representative sample groups.
The act of completing market research highly depends on several factors such as the number of respondents, in-depth information, learning objectives, a data input mechanism, and other necessary tasks to make the whole research accurate and factual. The project may take from 2 days or up to six to seven weeks to be completed, conditional on the method used and the number of your target consumers or businesses.