Market Research / Benchmark
What is for?
- To determine the viability of the business in certain environments or contexts.
- Define the “life cycle” of a business, anticipating possible upcoming events.
- Investigate and deepen the needs of niche markets we know and recruit new niches susceptible to our products and services.
- Defining our target, or target audience to whom we address qualitatively and quantitatively.
- Investigate about our direct and indirect competition; main competitors, market shares, positioning, strategies, etc.
- Mark patterns of segmentation that we will continue to target markets discovered.
- The data will indicate the basis for defining a marketing plan with which to achieve our goals.
What tools are commonly used?
- Questionnaire / survey. It can be physical, phone or mail.
- Focus Group. Is to bring together a select group of consumers to discuss and debate the properties of a product or gather information on needs and insights on it.
- Scantrack. Lets you know the levels of rotation relative to its competition, and provide information on the elasticity of prices and market share.
- Frenteo. Raise Data on the number of products that are exposed to the public, at the point of sale.
- Tasting / Demonstration. Provide a group of consumer product samples to determine probabilities of success or failure before launch.
Characteristics of the process | Benefits for the company |
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Other Expected results
- Reduced costs for the effective introduction of new products.
- Optimizing advertising expenditures.
- Improvements in the design of products and services to suit the needs of customers, and the resulting increase in sales.
Expected Yield
150% of the investment
Verifiable success cases
- Steel Sector. 150 employees. Market for steel steel company in the automotive sector.
- Energy Sector. Focus Groups for distribucióna company on launching new mobile services.
- Sector Security Services. Conducting a benchmark for the launch of an electronic security system.