Market Research & Analysis Preparation for
Market Research and Analysis Process:
Researching and analysis of the market your business is entering into, is a crucial aspect. It is necessary to stay ahead of the competition by evaluating the changing attitudes of consumers, defining the market, and acquiring competitive knowledge.
IBN can provide businesses with the information needed to formulate strategic decisions and maximise profits. This is done by analysis and presentation of findings and in turn, reduces the risk of making a wrong future decision. With our expertise and knowledge, we can deliver market research and analysis of a high calibre, meaning your business can execute its new plans to rise above of the competition.
We start out by meeting our clients and learning more about their business to gain an in-depth understanding in which direction they are pointed. A research technique is decided and we are then able to compile an array of research topics which will then evolve into what the client is looking for. Each individual research project is personalized to fit the needs of the unique client and consists of a devoted research team to carry out activities.
Service we offer:
1. Qualitative Research (Insight on consumer behaviour and their attitudes)
2. Quantitative Research (Insight on social mathematical and statistical techniques)
3. Mixed Research (A combination of Qualitative and Quantitative Research)
Why conduct market research and analysis?
1. To identify your competitors (Competitor analysis)
2. To identify the product (Its name and how consumers view it)
3. To identify the price you would like to charge and the price consumers are willing to pay (Price gap)
4. To identify a way of ‘sticking out’ above and beyond competitors