In order for a company to act in accordance with the market and develop and sell its products and services in line with existing needs, it requires a profound knowledge of the situation in the surrounding market.
What do we mean by market understanding? Some of the fundamental questions addressed by this area of research are:
- How large is the market, and how is it structured?
- Which characteristic laws govern it?
- Which standards, innovations and trends drive the market? And what barriers to entry exist?
We answer these and other questions with the help of our versatile repertoire of tailor-made market research tools and methods.
How many potential buyers exist in a possible new market, and what characterises them? And who are the most important players there?
Information about the size and structure of the market are indispensable foundations when making decisions about your strategic brand alignment. We can use representative surveys such as the EARSandEYES Omnibus to provide this information to you quickly and cost-efficiently.
Market definition/category architecture
Which consumer needs define my market?
One key to an accurate assessment of the market potential and volume is the choice of suitable defining criteria. Depending on the definition of the market, for example, substitution effects between different sub-markets can be relevant.
Which brands already occupy what specific drivers? Is my brand invoking the right arguments?
Our multivariate analytical methods, including special driver analyses such as penalty rewards analyses, identify the drivers that govern your market. Building upon these, we determine which strategy can best exploit the existing potential.