Market Intelligence Research
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Market Intelligence Research Services
Market Intelligence synthesizes “secondary” data sources, meaning information and research that already exists. Wakefield Research curates and analyzes these sources to produce new insights that answer a client’s critical business questions. Areas of research can range from calculating the size of markets to monitoring competitors to targeting potential acquisitions.
How big is the market we are considering entering?
There are numerous methods for calculating market size, including top-down, demand side or supply side analyses. The most important factor for Market Intelligence is ensuring that results are established through rigorous research, regardless of methodology.
We need to know what the outlook is for the market and whether its technology is expected to change?
The objective of a trends analysis is to provide a platform for making market projections. A market trend analysis includes analyzing factors such as economic environment, changing demographics, pricing, technology, and social behavior.
How can we get a better sense for what our competitors are doing in the market?
Insights include competitors’ corporate activity, products, sales channels, positioning and customers. In addition to providing a spot-in-time analysis, research may incorporate market monitoring in order to stay updated on competitor developments.
Should we make an acquisition?
Before moving forward with a partnership, Wakefield researches a variety of markets to determine which ones provide the best opportunity for a target search. Subsequently, there are several ways research can optimize the pre-acquisition process, from mapping the landscape of potential partners to identifying red flags in a target’s business.
How can we get more insight into what’s being offered in the market?
Market Intelligence uses existing information to examine the “lay of the land,” meaning the players, products, specifications and segments that comprise a market. Profiling can be a quick snapshot or a more extensive analysis incorporating themes such as key driver analysis and barriers to entry.
If we were to enter this market, where would we fit in? Would we sell directly to the original equipment manufacturer (OEM) or is there another tier between us?
This research is often illustrated using a flowchart that provides an overview of the structure. The second stage consists of a deeper dive into the companies that comprise each stage of the supply chain. This includes assessing each player’s capabilities, relationships and strategic initiatives.
Sales have been slow lately. How can we expand our customer base?
By identifying and profiling companies that currently need or expect to demand certain products and services, a list of potential customers can be unearthed. In addition, a thorough examination of each company’s market activity will provide the necessary knowledge to approach these customers in a strategic and effective manner.
For help with your market intelligence, quantitative and qualitative research needs, contact Wakefield Research today.
Working With Wakefield
Wakefield Research offers the best-in-class research practices with expertise in a wide range of industry verticals.
We serve as a market research firm to the world’s most recognizable brands and agencies, including 50 of the Fortune 100.
If you have questions about the various types of market research that we offer or if a certain type is right for your business situation, please contact us today.
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