For every business, up-to-date understanding of the industry and how the market is evolving is baseline for survival. A general idea of who the customers are and what they need will not cut it; digging deeper is critical to winning their hearts (and wallets). Recognizing the strengths and vulnerabilities of your competitors can help mitigate risks and unlock opportunities. Creating a strong brand and leveraging its unique value proposition is central to success.
Getting the right insights is key to staying competitive, to growth and profitability. We can help answer your questions on the following:
SIZE OF THE MARKET
Understanding the size of the market for your product/service is crucial to mapping out your market strategy. Our specialists will help assess this for you – we will conduct detailed research to outline the size and structure of the market, and showcase the size of the opportunity that is on offer.
MARKET AND CONSUMER TRENDS
It is important to understand market trends, and have a view of where the market is heading. Through our research, we will analyse your industry’s recent performance and provide future estimates of the market size, to give you a clear view of the growth potential.
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LOCAL COMPETITIVE LANDSCAPE
We will identify the primary competitors in the local market in your industry. We will help you understand the size of their business, their market position, strategies and strengths and weaknesses.
The different market segments – geographic, demographic, psychographic, and/or behavioral – will be identified. Depending on your product or service, other segmentation may apply – seasonal, lifestage and generational. This will enable us to understand the right marketing strategy and positioning for your business.
THE TARGET CUSTOMERS
We will dig deeper into who your current and potential customers are, their motivation, preferences and buying behavior. Identifying the right target audience will enable you to craft and tailor-fit the offer and messages to appeal specifically to them.
LOCAL REGULATORY RESEARCH
Understanding the local regulations that may apply to your product/service is critical. We will conduct in-depth research into the local regulations that apply to you, including licensing requirements and certification requirements, local duty and tax structures.
A brand that echoes the brand promise and connects with the customers better than competition is key to success. A strong brand helps gain awareness, preference, trust and loyalty.
More importantly, we have the knowledge and experience to translate the information gathered into actionable insights and a customized implementation plan.