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Market Assessment
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Would you like to understand whether there is a gap in the market?
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Is it of interest to you to know the target market for a new product?
Market assessment helps identify opportunities and gaps in a marketplace and therefore helps you to properly target your customers. Research Solutions Ltd specializes in two complementary market assessment surveys. These are market exploration and market definition.
Market Exploration
Usually qualitative in nature, this type of survey explores potential gaps and opportunities in the marketplace. Market exploration thus helps provide the following information:
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Competitive environment
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Target customer profiles
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Customers´ perceptions of products
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Customers´ consumption and purchase habits
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What would drive purchase?
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Optimum price of your products
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Customers´ willingness to buy your products
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Likely purchase volume by target market
Market Definition
As with the market exploration, this type of study seeks to identify opportunities and gaps in the marketplace. However, in this case the methodology is quantitative and thus yields measurable data. Market definition thus defines in numerical terms the information that is collected through market exploration.
