Guide 1 Using research for market analysis Problem

■ Where do our products/services stand in the market?

■ Should we withdraw from a market?

Data requirement (market size and structure)

■ How profitable is the market generally?

■ Is the market growing or declining?

■ What are the main products in the market?

■ Who are the major competing firms in the market?

■ What is the distribution pattern?

■ What marketing strategies are used in the market? Data sources

■ Secondary desk research: government and other published statistics, information services (see Section 4.2).

■ Syndicated research services: if available for this market. Consult index in Section 4.3.2 and the Market Research Society (MRS) (see Section 4.3).

■ Omnibus survey: to collect basic market data. Only possible for markets in which this service operates. Consult index and MRS (see Section 4.4).

Problem

■ What different market segments exist and how do they differ? Data requirement

■ Market characteristics. Data sources

■ Secondary desk research: see Section 4.2.3 for sources, e.g. Mintel, Euromonitor.

■ Syndicated research services: TGI, ACNielsen and TN Sofres retail audits, etc. (Section 4.3).

■ Omnibus survey: for basic data on market characteristics related to product attributes. Only possible if this service operates in the market.

■ Consult index and MRS (see Section 4.4). Problem

■ What differing needs, motives and satisfaction could my product/service gratify? Data requirement

■ Characteristics and attributes of users and potential users. Data source

■ Made-to-measure: market segmentation study (see Notes for Guide 1, Section 16.7), psychographic market analysis (see Notes for Guide 1, Section 16.7).

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