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Why Market Research?

Market research is very important for brands to obtaining accurate insights on entire market it operates, the latest trends and behaviours. At Consulsat, we use a mix of qualitative and quantitative methodologies like surveys, CATI interviews, focus groups, and In Depth Interviews to gather useful data about brand and industry perceptions.

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EXPERTISE IN MARKET RESEARCH

Today’s market trends are constantly shifting and changing. This makes conducting market research on a regular basis more important than ever if brands want to keep up with current market trends and maintain the competitive edge.

Whether starting a new business or product line, conducting market research is imperative to understand the target market, increasing sales, and improved business growth. Research helps in.

REDUCED MARKET RISKS

Research helps in minimizing business risks

MARKET TRENDS

Identify changing market conditions and their impact

RESEARCH SOLUTIONS

There are different types of marketing research methods classified on the basis of the research objective and business goals for which the study is to be carried out and the sources of data used to gather the information. Consulsat offers and have deep expertise in the following market research methodologies.

MARKET SIZING

Gaining insights on the size of the addressable market for both existing and new products and services, or even concepts under development, is an important, vital and basic first step in any business plan. Market sizing and trend research provides insights into market investment decisions and aims to explore the potential of a market in terms of size and profitability. For all types of businesses, sizing the market is a necessary task for budgeting and marketing planning, and identifying the key trends.

Further the research helps in :
  1. Identifying the overall market by size and type
  2. Identifying major brands and their penetration
  3. Identifying competition by its size and share
  4. Identifying key obstacles to win in the market

COMPETITIVE ANALYSIS

In a nutshell, a competitive analysis is a 360 degree review of the competitive landscape to find out what they are doing in the marketplace. Understanding the competition is important to identify the key differentiators you bring to the table in any product or service. Competitor analysis will also help in understand their marketing, pricing, and promotional strategies adopted by the competitors in the market.

Further the research helps in :
  1. Clear insights on the competition strategy
  2. Discover the competitor market positioning.
  3. Developing a perpetual map of competition
  4. SWOT analysis of the main competitors
  5. Understanding the market gaps and needs
  6. Aiding the product development
  7. Understand marketing trends
  8. Understand competitive pricing strategy

CONCEPT & PRODUCT RESEARCH

Concept or product testing is an integral part of market research that involves investigating how potential consumers will react to certain products or services before the product or service is released to the market.  This is an important step because it allows Product and R&D teams to measure the understanding, perceptions and discover wants, changes and needs that are associated with the product or service being offered.

Further the research helps in :
  1. Deciding the market potential of the product
  2. Providing customer feedback and inputs on product/service
  3. Understand the best customer segments
  4. Eliminate the product/service features which doesn’t have good enthusiasm
  5. Willingness to pay for product/service.

RETAIL AUDIT

Retail audit service from Consulsat gather information on brand’s sales volume, sales trends, stock levels, effectiveness of in-store display and promotion efforts, and other related aspects. Generally, it allows FMCG companies to analyze product placement and display in order to maximize sales. It also ensure that retailers are complying with pre-made agreements such as placement, pricing or promotions.

Further the research helps in :
  1. Understand the shelf performance
  2. Marketing & Promotional effectiveness
  3. Understanding the catchments with highest and lowest potential
  4. Supply chain effectiveness

    Note : Mystery shopping exercises are also conducted to understand the customer representative efficiency as a part of retail audit.

CLIENT’S TESTIMONIALS

ConsulSat’s vast experience in the business planning and feasibility studies contributed to the growth of many companies. ConsulSat played a particular important role in the success of many start-up businesses. The company furnished business expertise that startups usually lacks during early formative years.They are fully committed to satisfy the best interest of their customers and always deliver on time without compromising quality.

Ibrahim Mohammed

Creative Director

Our company has worked with ConsulSat twice. In the first time, ConsulSat was able to carry out a serious and comprehensive business plan that helped me in establishing my business, as it provided a clear due diligence and financial forecasts. I was completely satisfied with the deliverable of that project as ‘30 minutes” has integrated ConsulSat’ recommendations into normal business conduct.

Ammak Hassan

CEO & Founder