Marketing Research Specialist
MARKET RESEARCH IS: INSIGHTFUL. IN-DEPTH. OPPORTUNITY-FOCUSED.
Consumers’ needs change, markets shift, and your competitors are adapting, It’s time for you to change with in-depth market research.
Whether you’re a multinational corporation, a single storefront or an entrepreneur, data is not enough. When building actionable strategies, one needs insights extracted from data.
We gather information for you, but we also analyse the findings and make recommendations that will allow you to understand your customers and your market better.
Conducting Market Research
We conduct in-depth market research to discover your main factors, attitudes, influences and your competitive environment, so you have a comprehensive understanding of your market environment, competitors, buying behaviour and your customers wants and needs.
We partner with leading marketing research firms, offering a deep-dive into specific problems which need to be researched, such as specific age grouping, LSM, lifestyle cycles and competitor advertising spend. We also spend time gathering secondary data from journals, government records, corporate announcements, reports, customer bases, B2B companies public data and all other public information which enables us to gather secondary research information, which supports your primary research project. Our proven methodology is perfectly suited for both Business to business (B2B) and business to consumer (B2C) businesses.
The Market Research Process
Wasting valuable time and resources is not the “strategise way”. Therefore we build in a phased approach to conducting market research and implement a process of gathering secondary research data and then primary research. At each step a scope of work is created with measurable’s and deliverable’s, in order for the research project to be executed.
Phase 1: Preliminary Assessment
Given the objective of the phase, following key activities are envisaged as scope of work for the Preliminary Assessment:
To get familiar with the given research project type and all the relevant information provided by the Company.
To understand and review all the underlying assumptions of the given research project and all related information.
To list all the missing points and risk factors and/or “Gap Report” (if required for the project).
To present the Gap Report or findings to the project owners and reflect project owners’ comments into the Gap Report.
Based on the Gap Report or findings, to present an “action plan” and timeline for the remaining stages to the project owners.
Research Methodology Used at Phase1:
Qualitative research is used to gather information of secondary data by researching sources, such as digital – Search, journal articles, PR, third party reports, social media, websites for example will be used on highlighted data to provide a further deeper dive where possible for value added information. Based on the availability of information and the availability of relevant research data from marketing research firms which would be used for primary data analysis.
This phase is created so you will have the option to approve the project going forward, based on the amount of credible and relevant research data collected and knowing what is available to make a qualified decision to answer your research question.
Phase 2: Full Assessment
The objective of this phase is to undertake a detailed assessment including:
To communicate the Action Plan and Gap Report with the Project Manager.
To validate all the underlying assumptions with solid market research data/official confirmation and justifiable estimations (simple verbal communication not acceptable).
To conduct a “Market Study” in the target market.
Based on the Market Study, to develop a sales/ marketing strategy and its execution plan (practical and viable).
To list all the suppliers, vendors, sales channels, government entities in relation to the Project and to prepare a risk factor report for Project Steering Committee’s direction.
To develop a viable “Execution Option”, including product type, production capacity, vendor – machinery, raw material suppliers, logistics, utilities, tax & duties, project
Update/revise the draft report and present it to the project owners.
Deliver a presentation of the updated research report and the Execution Option to the Project Steering Committee.
Phase 3: Project Execution
To incorporate all the comments from Project Steering Committee into the Execution Option and its Action Plan.
As a project Consultant, to guide the Project Manager in an execution plan.
Together with the Project Manager, to prepare a check list in line with an Action Plan for the Execution Option.
To present a progress update to the Project Steering Committee on an agreed-upon basis (i.e.,
bi-weekly or weekly).
To sign off the research project and to hand it over to the Project Manager.
Research Methodology Used in Phase 2 and Phase 3
Work closely with the Project Owner.
Review the existing studies.
Review all existing information, comments and suggestions.
Examine the assumptions and validate them as much as possible.
Prepare a detailed research report with specific conclusions and recommendations.
Research Reports Offered
Feasibility Study Reports
Competitive Analysis Reporting
Market Environment Reporting
Industry Trend Analysis Reporting
Case Study Reporting
Market Research Offered
Observational Shopper Behaviour
Trend and Innovation Analysis
Feasibility Study Research
Feasibility Study Definition:
A feasibility study is defined as a controlled process of identifying problems and opportunities.
Determining objectives, describing situations, defining successful outcomes and assessing the full range of costs and benefits associated with several alternatives for solving a problem.
What does a Feasibility Study Do?
A feasibility study is used to support the decision-making process, based on a cost benefit analysis of the actual project viability.
It is an analytical tool which includes recommendations and limitations, which is utilised to assist the decision-makers when determining the if the project concept is viable by means of determining the technical viability, market viability and commercial viability of entering a market.
Why is a Feasibility Study So Important?
It is estimated that only one in forty business ideas are actually commercially viable. A feasibility study report is an effective way to safeguard against wastage of further investment.
If a project is deemed to be feasible from the results, the next logical step is to proceed with a full Strategic Business Plan.
Quick Facts About a Feasibility Study
Used commonly for a manufacturer entering a new country
Determines Technical, Market and Commercial project viability
Length of document approx 220 pages
Time taken to complete approx 3-4 Months
Involves 3 phases:
Desk research to determine initial project viability
Feasibility study report phase (after favorable initial phase)
Project Budgeting phase (after favorable initial phase)
Competitive Analysis Reporting
Competitive Analysis Definition:
A competitive analysis is a critical element of the marketing plan, with evaluation you can understand what makes your product or service unique.
What Does a Competitive Analysis Do?
You can create strategic competitor groups and how they directly compete with you. For each group or competitor you can list their products or services, how it differentiates with yours, growth patterns, marketing objectives and sales size.
With the aid of gathering AMPS and AdDynamix data, you can gain valued insight into your customer persona's, demographics, lifestyle cycles and competitor advertising spend, versus your own strategic thrust.
Quick Facts About a Competitive Analysis Report
These are a few questions a competitive analysis should answer, but not limited to:
Who are your competitors?
What products or services do they sell?
What is each competitor's market share?
What are their past strategies?
What are their current strategies?
What type of media are used to market their products or services?
How many hours per week do they purchase to advertise through the media used in this market?
What are each competitor's strengths and weaknesses?
What potential threats do your competitors pose?
What potential opportunities do they make available for you?
Where are the 'gaps' you need to fill?
Create Differentiation with Market Intelligence
Competitive intelligence is the process of defining, gathering, analysing, and distributing intelligence about your products, competitors, customers or any part of your business environment for the purpose of supporting your Executives needing to make strategic decisions.
You know who your competitors are. However, you need a deeper understanding for better decision making. That's where we partner with you to research the questions which go unanswered. Let's work together to locate your "strategic sweet spot" which separates your company from your competitors.