Market research offers you the information you need for directing your business plans. The performance of market research, whether on an incidental or permanent basis, allows you to trace and anticipate emerging trends.
A Spanish proverb says: “Nada es lo que parece” – “Nothing is what it seems”. In Spain, it is more difficult to get access to the right information as it is in the Netherlands, because Spain is divided into autonomous regions and provinces. In addition, the statistical information is of lower quality than in the Netherlands. Furthermore, linguistic and cultural differences make it more difficult to obtain reliable information. It is not uncommon that after undertaking market research you come to different conclusions than you would have initially expected.
Market research methods
Every research question requires its own research methodology. Sometimes it is necessary to investigate existing literature and documentation. At other times, it is better to do “hands on” field research, involving interviewing experts or doing numerical research. In the consumer market, we can organize a panel survey or conduct surveys.
Market research methods:
- Study documentation and literature
- Numerical research
- Field research
- Interviewing experts
- Panel research
- (Online) surveys
Questions we can investigate:
- How big is the potential market?
- Who are my main competitors? How are they performing?
- How is the reputation of my brand name developing?
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