About Market Research

84% of entrepreneurs create a business by choice instead of necessity.

Maybe that’s why, the number one reason for small business failure: There is no market need.

Market research can give a business a picture of what kinds of new products and services may bring a profit. It is a systematic process of collecting, analyzing and interpreting information. There are many different types of market research that cover various areas of study.

At IntroMarket Research, we do a professional custom market research. Custom market research reports offer a more tailored solution to meet your unique objectives, and provide the information needed to make important decisions with confidence. In other words, we conduct the market research on given topic and finding answers on given questions.

Market Research and Analysis are useful for the following reasons:

–  Recognize new opportunities and threats and adapt quickly

–  Evaluate current and forecast demand for the new product

–  Analyze technology, regulations, or other trends impacting the market

–  Identify attractive markets

–  Improve your product portfolio and average prices

–  Understand consumer key purchasing criteria and behaviors

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    Market Research for Starting, Scaling or Securing Your Business?

    There is a structure for market analysis for each stage of your business. Press the icon and read.

    Starting a Business

    While conducting market research for a new business we use the following structure:  
    • Market overview
    • Trends analysis
    • Analysis of 3 competitors
    • Audience overview
    • SWOT
    We start with the web-research and research the industry, size of the market, market trends. Is the market growing or is it stable? What factors influence the market development?

    Competitors’ analysis – we identify and analyze competitors in your segment. Besides the analysis of their pricing, services/ products we research their sales channels and marketing strategies. Additionally, we analyze testimonials, reviews, feedback from the users/customers of your competitors. It helps to evaluate their strong and weak sides.

    Audience overview – analysis of your audience needs, pain points, demographics, online presence, interests, and similar.

    SWOT Analysis will help you to evaluate Strengths, Weaknesses, Opportunities, and Threats to enter the market. Based on the SWOT analysis we suggest a strategy to  for your business development:

    • Aggressive
    • Conservative
    • Defensive
    • Competitive

    Scaling a Business

    While conducting market research for scaling a business we use the following structure:
    • Market overview
    • Trends analysis
    • Analysis of 6 competitors
    • Audience overview
    • SWOT
    • 5 interviews
    We start with the web-research and research the industry, size of the market, market trends. Is the market growing or is it stable? What factors influence the market development?

    Competitors’ analysis – we identify and analyze competitors in your segment. Besides the analysis of their pricing, services/ products we research their sales channels and marketing strategies. Additionally, we analyze testimonials, reviews, feedback from the users/customers of your competitors. It helps to evaluate their strong and weak sides.

    Audience overview – analysis of your audience needs, pain points, demographics, online presence, interests, and similar.

    SWOT Analysis will help you to evaluate Strengths, Weaknesses, Opportunities and Threats to enter the market. Based on the SWOT analysis we suggest a strategy to  for your business development:

    • Aggressive
    • Conservative
    • Defensive
    • Competitive
    Interviews

    In order, to evaluate a new market, product category, or industry we are speaking to executives, consultants, trade magazine editors, journalists, industry association executives, technologists, professionals, financial analysts, distributors, dealers, business owners, and product users.

    • Expert opinions get a broad perspective about the industry development, trends, opportunities, problems and issues, unmet needs and wants, solutions, best practices.
    It is very important to have a conversation with your customers or potential customers to find out their reaction to your offerings.

    At IntroMarket Research, while conducting interviews we use Design Thinking approach. It includes open-ended questions that let the actual individual lead the conversation. It helps to bring different points together.

    Securing a Business

    While conducting market research for securing a business we use the following structure:

    • Market overview
    • Trends analysis
    • Analysis of 10 competitors
    • Audience overview
    • SWOT
    • 10 interviews
    • Secret shopping
    • Porter’s Five Forces
    We start with the web-research and research the industry, size of the market, market trends. Is the market growing or is it stable? What factors influence the market development?

    Competitors’ analysis – we identify and analyze competitors in your segment. Besides the analysis of their pricing, services/ products we research their sales channels and marketing strategies. Additionally, we analyze testimonials, reviews, feedback from the users/customers of your competitors. It helps to evaluate their strong and weak sides.

    Audience overview – analysis of your audience needs, pain points, demographics, online presence, interests, and similar.

    SWOT Analysis will help to evaluate Strengths, Weaknesses, Opportunities and Threats to enter the market. Based on the SWOT analysis we suggest a strategy to  for your business development:

    • Aggressive
    • Conservative
    • Defensive
    • Competitive
    Interviews

    In order, to evaluate a new market, product category, or industry we are speaking to executives, consultants, trade magazine editors, journalists, industry association executives, technologists, professionals, financial analysts, distributors, dealers, business owners, and product users.

    • Expert opinions get a broad perspective about the industry development, trends, opportunities, problems and issues, unmet needs and wants, solutions, best practices.
    It is very important to have a conversation with your customers or potential customers to find out their reaction to your offerings.

    At IntroMarket Research, while conducting interviews we use Design Thinking approach. It includes open-ended questions that let the actual individual lead the conversation. It helps to bring different points together.

    Mystery Shopping is a part of advanced competitors analysis. This method allows us to measure your competitors’ quality of services, pricing offers, customer support, communications and sales strategies, and similar.

    Porter’s Five Forces is a Strategic Positioning Map of company’s competitive environment. At the end of the analysis, you will receive a strategic positioning map in comparison to your competitors, based on the top features that will be analyzed.

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