Business Development Classroom

David methe / Professional / Management

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Question:-

i saw your answer and i want to know,how we can do "Market Research"

Answer:-

Marketing Reaserch,its a wast topic and have lots of way to do or you appoint some agencies also for this,as per my understanding i am explaining you here.

Performing market research is highly important in order to understand your company current position and determine where it is headed, for that, you will need to do the following:

Perform research about the industry you are in, the geographical area you cover and the market segment you are targeting. There are many ready made reports about the industry, market, country over the Internet sphere that you can find useful, they inform you about market trends and value, you can then calculate your market share out of the total market value.

Research for contracts, bids and opportunities of cooperation with other companies that your company can take to increase its channels of revenues.

Subscribe to industry related databases, forums and blogs; these can be of great value to you, if you were in the construction or building industry for example, such databases will provide detailed information regarding all projects within your area from concept to execution, this would save you plenty of time consumed normally in collecting information and vastly reduce your market intelligence efforts, use them wisely as leverage over your competition.

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