Here’s how market research can help your business
Market research is a technique for identifying, understanding and providing a solution to consumer needs. It is an important part of many business strategies to understand the dynamics of competition and demand for the product or service you want to offer. It can be done on any scale, from a single city or region to an entire country. At Arpo, we have more than 50 years of experience in international qualitative and quantitative studies for all types of sectors. Here’s how we do it.
When is market research needed?
If you are thinking of launching a new product, conducting market research will help you make informed decisions about the feasibility of your idea and whether there is a need for it.
Market research is also used to discover problems that may be affecting a project and determine what actions can be implemented to solve them, as well as to understand the dynamics of the competition and the demand for the product or service you plan to offer.
Benefits of market research
Whatever your case, conducting this type of research will bring many benefits to your business:
- It helps to detect the niche where your company can best develop.
- It provides concrete information about the customer’s preferences or needs.
- It allows market trends to be identified and understood.
- It generates new ideas in the process of creating products or services.
- It improves business efficiency and profitability.
How are such analyses carried out?
Market research provides an in-depth look at consumers’ purchasing behaviour, preferences and perceptions through questionnaires, ethnographic research, interviews or focus groups.
A SWOT analysis internally assesses the company’s strengths and weaknesses, as well as the opportunities and threats present in the current business context. And, in addition to knowing your market internally, being aware of how the competition works is essential to identify trends and opportunities in the sector.
Quality through experience
At Arpo, we have a strong reputation for high-quality market research. We work with a wide range of clients, from start-ups to large global corporations. Our dedicated team is made up of experienced professionals from a variety of backgrounds who work cross-functionally, making use of the latest tools for effective, accurate, and transparent results.
As an agency, we are committed to transparency, which is considered a fundamental part of our service. We maintain an open dialogue with all our clients and partners, always valuing their business objectives above all else. If you have any questions, are considering market research or want to know more about us, contact us, and we will help you in a completely personalized way.