BFC WILL HELP YOU TO CONDUCT AN EFFECTIVE MARKETING RESEARCH
5 reasons why to conduct a marketing research?
- 1. To identify new consumers and niches in the market
- 2. To determine the level of supply and demand in the market
- 3. To get information on the competitiveness of your company in a particular market
- 4. To set realistic goals for your business
- 5. To define the marketing policy, main areas of advertising, pricing factors, product distribution channels
Main components of Marketing research
GENERAL MARKET OVERVIEW
Key market indicators - analysis of market development, major trends and factors of influence.
EVALUATION OF MARKET CAPACITY
Key market indicators - volumes of production in quantitative and monetary terms, volumes of import and export, estimation of the internal market, retrospective analysis.
ASSESSMENT OF IMPORT MARKET SIZE (POTENTIAL)
Key market indicators - import volumes, prices, structure of importing countries, trade balance, structure of supplier and recipient companies, terms of delivery (INCOTERMS).
ASSESSMENT OF EXPORT MARKET SIZE (POTENTIAL)
Key market indicators - export volumes, prices, structure of exporting countries, trade balance, structure of supplier and recipient companies (INCOTERMS).
COMPETITIVE ANALYSIS
Key market indicators - analysis of competitors, compilation of competitors' profiles, segmentation of market operators by turnover, specialization, competitive advantages, market concentration level, monopolization level, Herfindahl-Hirschman index.
CONSUMER ANALYSIS
Key market indicators - analysis of consumers, compilation of customer profiles, segmentation of consumers by income, region, preferences.
PRICE ANALYSIS
Key market indicators - price monitoring, collection of price-lists of key players, analysis of the price structure, pricing principles.
SWOT- ANALYSIS
Key market indicators - strengths of the company (industry), weaknesses of the company (industry), existing and potential opportunities in the market, existing and potential threats in the market.
PEST-ANALYSIS
Key market indicators - political, economic, social and technological factors of influence on the market.
BCG MATRIX (Boston Consulting Group)
Key market indicators - company's relative market share, portfolio growth, market growth rate.
FORECASTS OF MARKET DEVELOPMENT
Key market indicators - identification of factors that will influence the market in the future, correlation analysis, construction of predictive models of market development.
DETECTION OF PERSPECTIVE NIСHES IN THE MARKET
Key market indicators - assortment analysis, balance of supply and demand by segment.
WHY BFC?
Expertise
13 years in the field of marketing services and business analytics
Experience
More than 400 performed projects
Cross-culture
8 countries where we have representatives on export marketing (Portugal, Slovakia, Turkey, Azerbaijan, United States, Kazakhstan, Algeria, United Arab Emirates)