Market Research and Analysis
How to identify new revenue growth opportunities by launching new propositions or
refining old ones, by entering new markets or finding new ways of penetrating existing
ones.
Market Research and Analysis Services
- Identify target segment
- Identify right method for customer touch points
- Identify right time to reach them
- Identify right strategies to reach them
- Identify consumer insights through market research
- Identify competitors
- Identify Right Prices
The Purpose of Market Research and Analysis
- What specific groups of potential customers/clients (markets) might have which specific
needs (nonprofits often already have a very clear community need in mind when starting
out with a new program -- however, the emerging practice of nonprofit business development,
or earned income development, often starts by researching a broad group of clients
to identify new opportunities for programs)
- How those needs might be met for each group (or target market), which suggests how
a product might be designed to meet the need (nonprofits might think in terms of
outcomes, or changes, to accomplish among the groups of clients in order to meet
the needs)
- How each of the target markets might choose to access the product, etc. (its "packaging")
- How much the customers/clients might be willing pay and how (pricing analysis)
- Who the competitors are (competitor analysis)
- How to design and describe the product such that customers/clients will buy from
the organization, rather than from its competitors (its unique value proposition)
- How the product should be identified -- its personality -- to be most identifiable
(its naming and branding)