Marketing research is research that specializes in collecting information about the market (mainly data on location, competitors, coverage areas, potential interest), its detailed analysis to make the right strategic decisions.
The main points on which marketing research is focused are:
• location analysis (market structure, etc.);
• definition of the coverage area of potential consumers;
• analysis of competitors;
• analysis of demand for this supply;
• analysis of problems that may arise during implementation;
• recommendations on expediency, volumes of potential areas, etc.
It is the goal chosen by the company that dictates the choice of the type of marketing research. Among them are the following methods of collecting the necessary information:
1. Office (secondary) research is conducted with the involvement of secondary information already collected in advance. These can be statistics, analytical reports, etc. Such information is developed by the company in the process of analytical work in all areas of activity and is of a recommendatory nature.
2. Field (primary) research is a time-consuming process of gathering information, which requires the study of the problem in the natural environment. First of all, there are miscalculations on the ground, the study of competitors, the demand of market operators and so on. Although these studies require additional investment and time, they provide the most accurate information.
In practice, the data collected becomes the basis for tactical planning of further actions of the company - whether to invest in the proposed real estate. It is marketing research that provides an opportunity not only to save yourself in the future, but also to have a complete package of collected information on the possible profitability of a particular area.
Without studying the market situation, there may be risks of investing in an unprofitable project that has no prospects. To avoid such situations, investors and developers should analyze the risks and turn to specialists for marketing research.
As the modern market evolves and grows exponentially, with more and more competitors in the real estate market, managers need to engage a team of professionals who will conduct marketing research. In this case, there are two options - either create a separate department of marketing research, or involve external experts. For the most part, the creation of a special department in the company has a number of advantages: small investment, "immersion" of the team in the company's problem, etc., but the inability to assess the market situation impartially, make a comparative analysis (due to lack of reliable information) actions to implement the project. To avoid conducting low-quality marketing research, you should turn to consulting companies that have a methodology and analytical information about the market situation.
"UKRAINIAN CONSULT GROUP" is engaged in a comprehensive marketing research involving proven methods of collecting qualitative and quantitative indicators. In order to obtain the most accurate data, our specialists adapt customer requests in accordance with market requirements. As a result, the client receives a product that best corresponds to the real state of affairs, and recommendations for the development and improvement of this project.