Market research-consistent actions to collect information about markets or consumers. It is a very important component in the development of business strategy. It is necessary to distinguish market research from market research, as market research refers to the marketing process, while market research refers only to the markets.
Market research should provide answers to the questions that consumers want, what they need, what they trust. The study may also include the study of consumer actions, behavior at different stages of the purchase process, etc.
Marketing research plays an important role in making various management decisions (about starting a business, winning a new niche, increasing its market share, expanding and developing an existing business, etc.), i.e. allow to draw conclusions and make management decisions on the basis of the collected information regarding the development strategy, sales policy, characteristics of the produced goods, investments in advertising and promotion of goods, etc.
In addition, the market analysis conducted within the framework of marketing research helps to identify new promising areas and identify opportunities for further development.
Qualitative marketing research should be relevant and reliable, which is provided by the clarity of the tasks and the correct selection of methods for its implementation.
Marketing research is the basis for the development of a marketing plan or business plan which determines what resources and information are needed for the production process (based on data on the existing level of technology, technology, etc.in a particular industry and analysis of the external environment, i.e. political, economic, social, demographic situation in the country or region).
As a result of research and management decisions based on it, Your company will be able to offer competitive goods with a set of competitive advantages in the market.
There are unexpected twists in the way of building a business, but market research helps you see them before you reach them. Whether you’re starting a business, introducing a new product or expanding your company, market research will help you reach the next level.
Taking into account the accumulated experience, our company is ready to offer our services in this direction.