Market research can be used as a powerful advantage against your competitors. When done properly, the knowledge acquired through market research can guide strategic decisions for a measurable ROI (Return On Investment).
Market research helps you identify market trends, ideal demographics and customer purchasing behaviour. Examination of the competitive landscape allows you to evaluate your own business performance for opportunities of improvement.
Market research helps you:
- Identify your unique value proposition
- Improve communication
- Minimize risk
- Create benchmarks to measure progress
Working with Firstbase for Market Research
Professionally acquired market research is more pertinent than data gathered by your internal team who will be biased to finding the anticipated results.
Essential information that can be gathered and presented includes:
- Size, segment and value of your market
- Potential market share
- Market concentration and growth probability
- Strategic plan for entry into a new market
- Current perception of your brand, products and services
- Insight on values, features and benefits
- Price sensitivity analysis
- Distribution and sales channels
- Competitor analysis
- SWOT analysis
The in-house research team at Firstbase can help you get started. If you are ready to discuss your research needs, contact us today.