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How can market research help you enter a new or competitive market?

Market research is an essential tool that uses scientific and practical methods to collect, analyse and interpret relevant data. This information, obtained by means of techniques such as statistics and data analysis, is crucial for a company to improve its decision-making process. The information is obtained through several methods such as telephone surveys, emails, direct observation and personal interviews. Identifying profitable markets and forecasting the demand for products or services helps your business development.

Objectives of market research

The main objectives of market research are:

  1. Administrative: It facilitates the planning, organisation and control of resources, ensuring that the company can meet market needs at the right time, minimising possible future failures.
  2. Social: It helps companies meet customer needs through products or services that fulfil their expectations, based on detailed information about their requirements and desires.
  3. Economic: It makes it possible to assess potential success or failure in monetary terms when launching new products or entering new markets.

Benefits of market research

Conducting market research has multiple advantages:

  • It provides additional information about customers and the market, improving the decision-making process.
  • It reduces risks by providing concrete data to support decisions.
  • It facilitates a better understanding of customers, their tastes and needs.
  • It results in cost savings by optimising the sales system.
  • It enables a better understanding of competitors and their weaknesses.
  • It allows companies to anticipate future opportunities by analysing market factors.

Importance in new or competitive markets

Market research is fundamental when entering a new or competitive market. The information obtained makes it possible to detect new trends, identify areas for growth, define the profile of the ideal consumer, and better adapt to their needs.

A thorough understanding of the environment and expectations of potential customers is key in a competitive market. Companies can adapt their business strategies, anticipate market reactions and develop products that respond to real demands. As a result, market research not only facilitates entry into new markets, but also strengthens a company’s competitive position by offering a deep and detailed understanding of the context in which it is operating.

naifman helps you enter competitive markets

At naifman, we promote successful strategies for companies seeking to expand their business horizons. Our comprehensive and customised approach allows us to identify the right target market and implement effective recruitment strategies, all through our B2B Business Consulting and Outsourced Sales service.

If you are looking for a reliable and experienced partner to help you boost your entry into new markets, don’t hesitate to get in touch with us. Our team of experts will be delighted to give you the support and guidance you need to reach your business goals. Get in touch with us through our contact form, by sending an email to support@naifman.com or by scheduling a meeting here!

Our team will help you enter competitive markets!

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Durante 12 años, en naifman hemos trabajado con más de 300 startups, scaleups y empresas tecnológicas de España, Europa y América Latina, ayudándoles a detectar de forma temprana sus desafíos comerciales para diseñar estrategias de venta de alto impacto y generar oportunidades de negocio a nivel nacional e internacional.