1. New Markets/ Existing Products research:
Every company has a product that can travel. It can travel to new geographical markets or to new industry segments that have not been tapped before. New markets wherever they are - new countries or new segments - carry risk.
New Markets/ Existing Products research help collect information on potential customers and markets wherever they are in the world. With this knowledge a company can build growth and value more quickly and more securely than by working from guesswork.
2. Existing Markets/Existing Products research:
For many companies, the first place to look for more sales is amongst existing customers. Current customers have already made the ultimate gesture of approval and paid money to buy your products.
A bit more persuasion and they may buy more. However, how many companies know their customer so well that they know if they have every available piece of business? Ask yourself the following questions:
a. How much is each customer buying of the products (or services) I sell to them?
b. What share do my competitors and I have of each customer's account?
c. What does the customer think of me against the other suppliers it could or does use?
d. What would make each customer buy more
Existing Markets/Existing Products research answer these questions. This can be achieved by relatively straightforward research. All that require is a customer list and a good briefing. An appropriate questionnaire is designed; interviews are carrying out and report on how to win more business.
3. New Markets/New Products research:
The most dangerous territory of all is that of new markets and new products. Here market research is a must.
4. Existing Markets/New Products research:
The assets of every company are its customers. Existing customers know and trust the company sufficiently well to do business. So much so, they may give serious consideration to buying a new product or service from the company.
In the research researcher find the opportunities for new products or services with existing customers as part of its new markets programme. In this method researcher take a brief during which he would discuss the products company want to sell and learn about their current customer.
Researcher would then design a programme of interviews that could include face to face and telephone contacts to determine how much business company could win and at what price.
Every company has a product that can travel. It can travel to new geographical markets or to new industry segments that have not been tapped before. New markets wherever they are - new countries or new segments - carry risk.
New Markets/ Existing Products research help collect information on potential customers and markets wherever they are in the world. With this knowledge a company can build growth and value more quickly and more securely than by working from guesswork.
2. Existing Markets/Existing Products research:
For many companies, the first place to look for more sales is amongst existing customers. Current customers have already made the ultimate gesture of approval and paid money to buy your products.
A bit more persuasion and they may buy more. However, how many companies know their customer so well that they know if they have every available piece of business? Ask yourself the following questions:
a. How much is each customer buying of the products (or services) I sell to them?
b. What share do my competitors and I have of each customer's account?
c. What does the customer think of me against the other suppliers it could or does use?
d. What would make each customer buy more
Existing Markets/Existing Products research answer these questions. This can be achieved by relatively straightforward research. All that require is a customer list and a good briefing. An appropriate questionnaire is designed; interviews are carrying out and report on how to win more business.
3. New Markets/New Products research:
The most dangerous territory of all is that of new markets and new products. Here market research is a must.
4. Existing Markets/New Products research:
The assets of every company are its customers. Existing customers know and trust the company sufficiently well to do business. So much so, they may give serious consideration to buying a new product or service from the company.
In the research researcher find the opportunities for new products or services with existing customers as part of its new markets programme. In this method researcher take a brief during which he would discuss the products company want to sell and learn about their current customer.
Researcher would then design a programme of interviews that could include face to face and telephone contacts to determine how much business company could win and at what price.