Once you have defined one to three potential target markets, it makes sense to do more detailed market research. How do you need to position your product or service, and with distribution channels to choose? These insights cannot be derived from statistics or the internet.
Local market research will give you the answers
Our specialists will contact potential clients and distributors in their region in order to gain a sense of the market for your products. They will also assess the competition and check aspects like custom regulations. We don't offer general information, but help you to find insights that you can make decisions on. We will answer questions such as:
- What is the local market size and market growth?
- What are trends in the market?
- What are the main distribution channels and market segments?
- What are your competitors and their market position?
- What is a competitive price for your products and services on the market?
- What segments of the markets are currently underserved?
- What would be recommendations for entering the market?
To answer these questions in general, we can define a 5-day research project. If you have more specific questions, or if you need a lot of quantitative date, we will need more time to find the answers. Together with you we will define the research objectives and the budget.
The prices for our market research differ per country. For a 5-day research project, think of the following investment:
|USA, Japan, Australia, Singapore, UAE||USD 8,000 - 10,000|
|Western Europe, Malaysia, Saudi Arabia||USD 6,500 - 8,000|
|China, Russia, Brazil, Kenya, Ghana, Turkey, Palestine, Jordan, Iran||USD 3,500 - 5,000|
|Poland, Thailand, Vietnam, India||USD 2,500 - 4,000|
For other countries and for more extensive research please contact one of our consultants. The market research can mostly be completed in 4 to 8 weeks.
First business trip
As part of your market research we can arrange a Market Mapping Tour to the country for you, guide you around and arrange meetings with potential clients, distributors and institutions that are useful to you.