Product surveys are intended to comprehend strengths and weaknesses revealed by companies’ products subject to study, as well as to find ways a product is consumed and determine means to improve it, or to get prepared for a new product launch.
Customer is the key word within any company’s marketing strategy. To establish an efficient strategy, one should well be familiar with their consumers. One should understand both quantitative and qualitative patterns of interaction with their consumers.
A competitor study (competitive intelligence) – is a systematic collection and analysis of information on costs, market share, strengths and weaknesses of companies’ competition. It is quite essential to follow one’s own competitive position, as failing to do so may lead to relinquishing advantages on the market, or else losing current market opportunities and trends.
Building a strong brand is an essential element related to any company’s success. In particular, this could be observed on a background of intense competitive environments.
Market research is a crucial task to be carried out by companies that are just entering new markets, undergoing transitions or companies launching new products.
The main purpose of market and customers’ segmentation is to subdivide the market into groups of customers that reveal similar characteristics, thus being able to understand their reactions with regard to certain products or services.