Market research consultancy, to enable companies to be active not only in domestic but also in foreign markets in a rapidly changing country and world economy. works. At this point, market research plays a critical role in a firm’s success. But knowing what it takes to do the right market research is essential. This is where market research consulting comes in.
🔍 What is market research? is a process. This process can be examined under two main headings as domestic market research and international market research.
🌍 Entering New Markets Especially for companies planning to export abroad to Africa, Europe and Gulf regions offer great opportunities. But the risks and opportunities are different in every market. For example, a firm considering entering the African market should evaluate the unique dynamics of the region together with market share and competitor analysis. That’s why it’s important to work with an expert analyst when conducting an analysis.
📊 How to Conduct Market Research? While conducting international market research, first of all, it is necessary to determine which countries or regions are targeted. Then, a comprehensive analysis of consumer behavior, competitor companies, market share, sales channels and distribution strategies in these regions should be performed. Getting market research support in this process will help businesses determine the right strategies.
As a result, market research is an indispensable tool for companies planning to enter a new market. With both domestic and international market research, you can see the front of your company, make competitor analysis and evaluate new market opportunities. In this process, benefiting from a professional market research consultancy will enable you to get successful results.
Entering new market or foreign market
It is vital for companies to take a look at new market opportunities in this time of increasing competition. In this process, market research comes to the fore as a major tool. What is market research? In short, it refers to a company’s access to information that will help it identify who its potential customers and competitors are.
In market research;
- It is handled under two main headings, 🌍 Foreign market research and 🏠 domestic market research.
- 💼 These studies are of great importance when determining foreign trade and export strategies.
- 🚀 In the process of finding new markets, companies need to review and adapt their existing marketing strategies.
Market research consultancy provides companies with the market research support needed to be successful in foreign and domestic markets by being equipped with the right information. Especially when doing foreign market research, expert support is of great importance. As a result, it is essential for a company to have good market knowledge and strategy in order to compete in the global arena.
What is foreign market research?
In the global economy, companies need to conduct international market research in order to compete not only locally but also internationally. So, what is foreign market research and how does this process work?
Overseas market research evaluated a company’s potential to do business in another country or regionIt’s a review for the purpose. This is a key component of new market finding efforts and is critical for companies to make strategic decisions about how to position themselves in the international market.
While conducting this type of research, information from domestic market research should be taken into account, as well as foreign market research elements. Understanding the domestic dynamics can help to formulate the foreign strategy correctly.
How to do market research? At this point, market research consultancy comes to the fore. The consultancy service provides in-depth information about both domestic and international markets and gives companies a competitive advantage.
The steps to be taken in this process are:
- Determining the Target Market: Before entering a new market, a thorough market research should be conducted to determine which country or region is the most suitable.
- Competition Analysis: In the new market finding process, it is essential to determine who the competitors are, what strategies they follow, and what advantages they have.
- Analysis of Consumer Needs: Learning about the consumer behavior, preferences and needs of the target market is critical to determining the position of the product or service in the market.
Market research support, companies can act more consciously and strategically in the international market. After all, being successful in the international arena is possible not only with the quality of the product or service, but also with the right market knowledge and strategy.
What is Market Research on?
Market research plays a critical role in a business’s understanding of market dynamics. In particular, it can be an informative guide on topics such as finding customers in the foreign market and finding customers in the domestic market. Today, companies resort to detailed market research not only to expand their existing customer portfolio, but also to create a customer database.
B2B customer finding process requires an in-depth understanding of the dynamics and procurement processes of the targeted industry, in particular. Therefore, it is essential to adopt the right customer data finding methods.
In addition, with market research consultancy, businesses have the chance to obtain market knowledge. This is vital for gaining a competitive advantage and keeping a close eye on market trends. In summary, market research; It guides businesses on many issues such as customer acquisition, data collection and understanding market dynamics.
What are the stages of the target market research process?
Determining target markets for a business is vital for growth and sustainability. Therefore, the research process must be carried out meticulously. So, what stages does this process consist of?
- 🎯 Goal Setting: The first step is to define market-entry regions or segments.
- 🌐 Research Via the Internet: The Internet offers a vast pool of information for free market research. Online resources are invaluable for competitive analysis and learning about consumer behavior.
- 🧩 Market Finding Stages: A detailed analysis is made to discover market segments suitable for the determined targets.
- 📑 Sample Market Research: Existing market research reportBy making use of its products, it is possible to have information about sectoral trends and competitor analysis.
In conclusion, target market research is a step-by-step process that keeps businesses growing in the right direction. In this process, market research consultancy allows businesses to fully discover their potential in the market.
What questions should you answer in market research?
While conducting market research, businesses need to find answers to the following questions in order to make the best strategic decisions:
- What is the Target Audience?
- Who is in this target audience?
- What needs does the target audience have?
- In which geographical regions is the target audience concentrated?
- What Competitive Dynamics Are In The Market?
- Who are the main competitors?
- What strategies are competitors adopting?
- What are the strengths and weaknesses of the competitors?
- What Opportunities and Threats Are There in the Market?
- Which trends are contributing to market growth?
- What factors in the market are holding back business growth?
- What is the Value of the Product or Service?
- Which features of the offered product or service do customers find valuable?
- At what price point can the product or service be competitive?
- Which Distribution Channels Are Most Effective?
- Which distribution channels should be used to reach customers?
- What kind of balance should be established between online and offline channels?
- What is the Size and Potential of the Market?
- How many potential customers are there in the market?
- What is the future growth potential of the market?
- What are Customer Needs and Expectations?
- What kind of problems do customers have?
- Which solutions can increase customer satisfaction?
These questions provide businesses with a comprehensive view of the market’s overall structure, customer needs, competitive landscape, and market trends. Thus, they can make more informed and strategic decisions.
What are the things to consider when doing market research?
There are some critical points to consider when conducting market research. Here is a summary of these points:
- Setting a Clear Purpose: Clearly define the purpose of your research. Clearly define what problems you are trying to solve and what information you need.
- Choosing the Right Method: The research method (quantitative, qualitative, desk research etc.).
- Reliable Data Sources: Benefit from up-to-date and reliable data sources. In particular, check the up-to-dateness and accuracy of the information collected over the internet.
- Objectivity: Take care to avoid prejudices while doing the research. Evaluate the data obtained objectively.
- Know Your Target Audience: Make sure you’re communicating with the right audience when conducting a survey or interview.
- Attention to Question Design: Make sure that the questions to be used in surveys or interviews are clear, understandable and not directive.
- Confidentiality and Ethics: Protect the confidentiality of research participants and act ethically.
- Timing: The timing of research can be critical. For example, a sectoral change or a certain period (holiday, holiday, etc.) may affect the results of the research.
- Analysis and Interpretation: Analyze the collected data accurately. Interpret research results accurately and clearly and determine how they will be used for business strategies.
- Putting Results into Action: Research results should not be just a report; use these results to shape your business strategies.
Market research consulting, when conducted carefully and rigorously, provides businesses with valuable insights and helps them make strategic decisions. Therefore, paying attention to the above points increases the efficiency and accuracy of the research.
How should a sample market research be?
Market research consulting helps a business better understand its market, competitors, customer profiles, and potential opportunities. Below, I’ll show you an example market research process in simple steps:
1. Determining the Purpose of the Research First of all, it should be determined what information the research was conducted to obtain. Example Purpose: What are the sports shoes preferences of individuals between the ages of 30-40?
2. Target Audience Definition Decide who to contact for research. Sample Target Audience: Individuals between the ages of 30-40 who are interested in sports.
3. Selection of Research Method
- Example Methods:
- Focus group interviews
- In-depth one-on-one interviews
4. Data Collection Data is collected through the determined method by reaching the target audience. Sample Question: Which brand of sneakers do you prefer?
5. Data Analysis The collected data is analyzed to reach meaningful results. Sample Result: 60% of respondents prefer Brand X sneakers.
6. Reporting Obtained results are presented in a clear and useful format. Sample Report Content:
- Exhibitor Profile
- Brand Preferences
- Reasons for Preference
- Recommended Strategies
7. Action Plan Based on the results of the research, it is decided what kind of strategy the business will follow. Example Action: Using Brand X’s popularity, launch a joint ad campaign with that brand.
An exemplary market research pursues a specific purpose, defines the target audience, provides an appropriate directionIt collects all data, analyzes this data and reports the results. Then, in line with this information, the most appropriate action plan for the business is determined.
For this process to be effective, the research must be carried out in an objective, detailed and systematic way.
Who does market research and analysis?
Why is market research important for any business to create a successful strategy? Because this research gives the business in-depth information on understanding customer preferences, industry trends and competitor activities. It helps businesses understand the challenges they may face and create strategies to overcome these challenges, especially in the new market process.
However, special expertise is required to do market research. This can be difficult for many firms to manage internal resources and to have such expertise. This is where market research consultancy comes into play. Consulting firms and independent experts have the capacity to conduct in-depth research and gather information on both domestic market research and international market research. >
Ministry of Economy also encourages companies to conduct market research by providing various supports for the development of the country’s economy. Thanks to such supports, even small and medium-sized enterprises can take great strides in opening up to foreign markets. Companies that do and companies can thus increase their international competitiveness and become a global player.
So, what’s the benefit? Market research provides important information on what kind of product or service a firm should offer, at what price range it should sell, and which marketing strategy will be most effective. In addition, information about competitors makes it possible for companies to adjust their strategies for those who makes more effective.
As a result, the answer to the questions why is it important and what it brings is that it provides sustainable success and competitiveness for businesses. This is why it is becoming increasingly important to consult and receive professional advice in this field.
Why should you get market research before entering a new market?
Market research service is one of the important steps that a company should take before entering a new market. This service is provided by companies like Adapte Digital, which provides market research consultancy. Here are some key reasons why a firm should seek market research services:
- Minimizing Risk: Market research consultancy enables you to identify potential risks in the market beforehand. Thus, you have the opportunity to best direct your investments and avoid waste of resources.
- Understanding Customer Needs: Every market has its own unique needs, expectations and habits. Thanks to market research, you can better understand the target audience and their expectations, and shape your product or service according to these expectations.
- Competition Analysis: Market research is critical to understanding the strategies, pricing and market positions of competitors. This knowledge allows you to build a competitive advantage.
- Correct Pricing: Market research is essential to create the most appropriate pricing strategy, taking into account the payment capacity of the market, competitive product prices and consumer expectations.
- Measuring the Potential of the Market: Knowing what the sales potential is in a market before entering it enables you to make the right investment decisions.
- Creating Effective Marketing Strategies: Market research determines which marketing channels are most effective, which advertising and promotional strategies work. allows you to identify what you are looking for.
- Product Development: Feedback from the market guides you to improve and innovate your product or service.
- Supporting the Decision Making Process: Market research consultancy supports company managers and decision makers in making informed, informed and strategic decisions.
As a result, getting market research services before entering a new market allows you to both protect your financial investment and increase your chances of success in the market. This is a critical step for effective use of resources and sustainable success.
What is market research consulting?
Market research consultancy is a service that companies need to explore new markets, analyze competition in existing markets, and understand customer expectations. Market research; It is a process to research the general situation of the market, competitor analysis and consumer behavior in the sector or region targeted by a company, both at home and abroad.
🔍 Why is it Important?
- Competition Analysis: Understanding what competitors are doing in the market helps the firm develop its own strategies.
- New Market Opportunities: Domestic or international market research identifies opportunities for the firm to enter new markets.
- Understanding Consumer Behaviors: A product and service strategy can be created by knowing the needs, expectations and habits of consumers.
Market research consultancy provides companies with professional support to manage this process and consult in order to get the most efficient results. Official institutions such as the Ministry of Economy can also provide guidance and support on the basis of exports and foreign trade. However, in the private sector doctor and doctor often have the capacity to provide more specific and detailed information.
📊 What’s the Benefit?
- Providing Information: Market research consultancy supports firms’ decision making processes with information. This information reduces risks and maximizes opportunities.
- Time Saving: A professional consultancy service enables companies to access the right information without spending a long time on their own.
- Strategic Roadmap: The consultancy service provides a strategic roadmap for companies on how they should proceed in the market.
As a result, market research consultancy has a critical role for companies to achieve a sustainable success. This service identifies the challenges that companies may face, evaluates opportunities correctly and helps them gain a competitive advantage. Therefore, it is extremely important to benefit from such consultancy services while creating marketing strategies.
What does a market research analyst do?
A market research analyst conducts research to find information that can help a firm determine and implement its marketing strategies. The main goal of these professionals is to deliver a company’s products or services to its target audience in the most effective way. determine how to present it. Here are the main duties of a market research analyst:
- Data Collection: Market research analyst collects data using both quantitative and qualitative research methods. This is accomplished through a range of methods such as surveys, focus groups, in-depth interviews and observation techniques.
- Data Analysis: The collected data is evaluated with statistical analysis programs and software. Using this data, the analyst analyzes the behavior, needs and preferences of consumers.
- Competitor Analysis: The market research analyst gives his company a competitive advantage by examining the performance, strategies and how they approach the consumer of the competitors in the market.
- Following Trends: Analysts closely monitor market trends and changes in consumer preferences. This helps the company determine its future strategies.
- Reporting: Findings are organized in reports to be presented to senior management and relevant departments. These reports play a critical role in decision-making processes.
- Strategy Development: Based on the data collected and analyzed, a set of recommendations such as marketing, product development or sales strategies are developed.
- Communication: Analysts often work closely with other departments such as marketing, sales, product development and senior management so that the information obtained can be applied correctly.
- Training and Development: With the ever-changing dynamics of the market and new research technologies in mind, analysts continually invest in their training and professional development.
As a result, the market research analyst has a critical role in strengthening a company’s position in the market, better understanding customer needs and creating more effective marketing strategies. The analyzes of these professionals make an important contribution to the success of companies.
What is market research consulting?
Market research consultancy is a service that offers expertise to provide detailed information and analysis to help businesses and organizations make more informed and effective decisions in the market. A number of research methods are often used to understand the dynamics of the market, customer behavior and competitive structure. Here are the key features of market research consulting:
- Data Collection and Analysis: Consultants collect critical data during the market research process through surveys, focus groups, in-depth interviews and similar methods. These data are then analyzed using statistical software and techniques.
- Competitor Analysis: Many consultancy firms conduct a comprehensive competitive analysis by evaluating the strategies, products and performance of competitor companies operating in domestic and foreign markets. presents.
- New Market Opportunities: Market research consultants inform companies about new market opportunities and make suggestions on how to capitalize on these opportunities.
- Strategic Suggestions: Based on the data obtained, consultants make strategic recommendations to businesses on marketing strategy, product development, pricing, distribution and promotion.
- Training and Information: Market research consultants can provide businesses with the knowledge and skills needed to research, learn and make strategic decisions.
- Customized Service: Every business and industry is different. For this reason, consultants often offer customized solutions tailored to each client’s unique needs and goals.
- Why is it Important? Market researchIt allows businesses to minimize risks, maximize opportunities and make more informed strategic decisions. Government agencies such as the Ministry of the Economy also encourage this type of advisory service, because sound market knowledge is critical to economic growth and stability.
As a result, market research consultancy is a critical service for businesses to strengthen their position in the market, gain competitive advantage and achieve sustainable growth. This service plays a key role in helping businesses achieve their goals.
What are the benefits of market research consulting?
Market research consulting is a critical service that helps businesses overcome the many challenges they face. Different geographic regions are characterized by different market dynamics. For example, when creating a domestic market strategy in Dubai, it may be necessary to take different approaches in Africa or Turkey . Here are the main benefits of market research consulting:
🌍 Expanding Market Information: In-depth market to evaluate foreign market and domestic market opportunities, to create business idea information is required. The consultancy provides clear information on how to strategize in Dubai or Africa.
📊 Competitor Analysis: To conduct an effective export market research in Turkey or any region, it is necessary to know what competitors are doing. Consultants analyze competitors’ strategies in detail.
💡 Strategic Decision Making: Why is it important? Because strategic decisions play a critical role in the success of a business. Counseling enables to make more informed and informed decisions.
💼 Advice and Advice: Companies and firms that provide Consulting advise businesses on how they can be more effective in the marketplace.
📈 Sustainable Growth: What is the benefit? For a long-term and sustainable growth, it is necessary to have the right market information. Consulting facilitates access to this information.
🤝 Connections and Relationships: A good consultant can help businesses connect with government agencies such as the ministry of the economy or with potential business partners.
As a result, the benefit of market research consulting is to enable businesses to be more effective and efficient in the marketplace. This is the key to sustainable success for both makers and doers.
How is the market research process going?
The market research process usually consists of a series of steps that follow a specific sequence. This process helps businesses accurately assess opportunities and challenges in the market by ensuring they have access to accurate information. Here are the key stages of the market research process:
- Determining the Research Purpose:
- The first step is to determine why the research will be done. This could be evaluating a product’s potential in the market, defining the target audience, or doing competitor analysis.
- Defining Information Need:
- It is essential to determine what information is needed depending on the research purpose.
- Choosing Data Collection Method:
- At this stage, a choice is made between primary (surveys, focus group discussions, etc.) or secondary (existing reports, publications, etc.) data collection methods.
- Creating Research Design:
- What questions to ask, whom to ask, and what kind of sampleDetails such as the structure will be determined at this stage.
- Data Collection:
- Field work is carried out and data is collected according to the determined method and design.
- Data Analysis:
- The collected data are evaluated by statistical methods or qualitative analysis techniques.
- Findings, conclusions and recommendations are presented in a research report in the light of the analyzed data.
- Implementing Results:
- Research findings are put into practice by being incorporated into business strategies, marketing plans or product development processes.
The market research process is a planned study to help businesses make a decision on a particular issue. Equipped with the right information, businesses can gain competitive advantage by creating more effective strategies in the market. Therefore, the market research process has a critical importance for businesses.
How to do overseas market research
Foreign market research is the need for businesses to know their target markets before entering foreign markets, It is a critical process for them to understand market share and its dynamics. Especially for companies planning to do business in Dubai, Africa or Turkey, these researches are why is it important located in one location.
🌍 1. Determining the Target Market: First, target markets must be determined. Rather than targeting large areas such as Africa, Europe or Gulf, it may be more effective to focus on specific countries or cities.
🔎 2. Research Process: Whether through internet or consulting companies, a detailed The research process should be followed. In this process, cooperation can be made with official institutions such as companies or Ministry of Economy.
🌐 3. Market Finding Stages: Within the scope of Market finding stages, demographic characteristics of the target market, consumer habits and competitor A detailed analysis should be done on issues such as analysis.
💡 4. Creating a Business Idea and Strategy: Based on the collected information, business idea should be created and market entry strategy should be determined. At this point, it may be useful to benefit from sample market research studies.
🖥️ 5. Use of Digital Tools: Nowadays, it is possible to reach a lot of information with free market research methods made via internet. However, you can get more in-depth information by getting analyst support.
As for the
Why is it important question; When we think about what is the benefit, we can find numerous answers to the question of what does international market research bring to businesses: Being one step ahead of the competitors, taking part in the market with the right strategies. and achieving sustainable success are just a few of those answers. You can read our article on finding customers from abroad.
As a result, foreign market research, consulting services or our own internalIt’s critical to any business, whether it’s with your business. With the right strategies, it is not difficult to be successful in new markets!
How to do domestic market research
Domestic market research is critical for a business to understand potential customers, market dynamics and competitive conditions within its own country. Why is this process important, especially for those who are considering developing a new business idea or expanding their existing business locally? Here are the steps to follow when conducting domestic market research:
📊 1. Defining the Target Market: First, it should be determined which demographic groups, age ranges or geographic regions to focus on.
🔍 2. Determination of Research Methods: The most appropriate one should be chosen among different research methods such as surveys, focus group studies or in-depth interviews.
📈 3. Competitor Analysis: The domestic market’s competition conditions, the strategies, products and services of competitor companies should be examined in detail.
🗂️ 4. Data Collection: According to the selected methods, field studies are carried out, surveys are applied or information is collected using other data collection techniques.
💡 5. Business Idea Verification: Based on the collected data, it is decided whether a new business idea will hold up in the market.
📑 6. Reporting: The data obtained is evaluated by the analyst and a market research report is prepared. This report will guide the business in making strategic decisions.
🌐 7. Use of Online Tools: Nowadays, it is possible to reach many domestic market information via the internet. Effective use of these tools can make the research process more efficient.
As for the
what is the use question of market research; Making strategic decisions based on accurate information, minimizing risks and better understanding customer needs are just a few of these benefits. Especially for companies operating locally, this information means being one step ahead of the competition.
As a result, domestic market research is one of the critical steps that should be taken for businesses to achieve sustainable success. It is possible to effectively manage this process by obtaining Consulting or with your own internal mechanisms.
Our method of market research for foreign trade
Market research in foreign trade ensures that your product or service is successfully positioned in the market. Why is it important? Because strategic decisions based on accurate information minimize risks and increase return on investment. This method is designed to help companies take the right steps in foreign trade.
🌍 1. Selection of Target Region:
In the first step, it is decided which country or region is most suitable for foreign trade activities. For example; Target determination is made by considering sectoral opportunities such as luxury products in Dubai, agricultural products in Africa or textile products in Turkey.
📈 2. Sectoral Analysis:
Research which sectors the targeted country needs, the growth potential and market share in these sectors.
🕵️ 3. Competitor Analysis:
Examine which companies are active in the target region, their market strategies, product range and price policies.
📊 4. Consumer Trends:
Understanding the cultural, economic and social dynamics of the regionResearch consumer trends.
🔄 5. Logistics and Distribution:
Logistics plays a vital role in foreign trade. Search for the most appropriate distribution channels and logistics solutions to facilitate access to products.
🌐 6. Online Market Potential:
Assess the sales potential in e-commerce and online platforms. This step is critical, especially in regions where online commerce is popular.
💼 7. Local Collaborations and Partnerships:
Search for the benefit of collaborating with local companies, distributors or agents. Sometimes working with a local partner can greatly facilitate market entry.
📝 8. Legal and Regulatory Framework:
Review the legal requirements, licenses and regulations required for business activities in the target region.
🗂️ 9. Data Collection and Reporting:
Create a comprehensive market research report by compiling all collected information, analysis and observations.
🤝 10. Consulting and Training:
For companies that do not have a strong grasp of local market dynamics, getting consultancy services or attending training seminars can be of great benefit. In this way, you can learn about the nuances and commercial practices specific to the region. Foreign Market Research Support.
Why should you get the advanced market research service?
In a competitive business environment, access to the right information is gold. Today, at a time when consumer habits are changing rapidly and market trends are becoming more complex, advanced market research has become the crystal ball of the business world. So why should you get this service?
First, thorough research allows you to base your decisions on information, reduces risks, and protects you from surprises. Second, in-depth analysis is necessary to know your competitors and stay one step ahead of them. Third, you need this type of research to make the most efficient use of limited resources and reach the right target audience. As a result, advanced market research is not just a cost, but a strategic investment for a sustainable and profitable future.