After a kick-off meeting with the client, we engage in market research with the primary focus on the competitive environment. We analyze its intensity and composition with the aim of determining methods of successful marketing communication used by competitive companies.
It's not an easy task to enter a new market and start offering your product or service to customers who are not aware of your brand. It requires the recognition of many subjects that make up the market and who often influence each other, such as customers, competition, suppliers, distributors or even society as a whole. When performing market research, we create a database of all relevant competitive subjects and their basic details, strengths and weaknesses and an analysis of used marketing tools.
The key factors, when it comes to customer research, are to recognize the participants on the market and to understand their needs. Oftentimes, it is needed to undertake a mailout questionnaire campaign with the aim of identifying true purchase behavior and habits, which in turn helps to create products specific to customer needs.
The purpose of market segmentation is to be able to adjust marketing activities towards particular customer groups divided according to shared characteristics. Further segmentation is done by geographical, demographic and psychological factors. It is of key importance to pinpoint prospective segments where attention should be focused.