How to organize market analysis

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Qualitative analysis
Aimed at understanding the motivations and preferences of consumers. This is achieved through:

Communication with colleagues and industry experts.
Interviews with competitors' employees.
Conversations with potential clients.
These conversations provide deep insight into the reasons why people choose a particular product. They can quickly reveal how your product or service will be received in the marketplace.

All of these methods of analysis are often used in combination to obtain the ecuador phone number list most complete and detailed picture of the market.
To choose the right strategy for market analysis, use this table:


To organize market analysis, you can choose one of three methods:

Hiring a marketing agency : This is not a cheap option, but it greatly reduces risks and saves time.

Use company resources: If your company has a marketing department or a marketer, you can delegate the research to them.

Do-it-yourself research: It will take a lot of time and effort, but this approach will save money. Below we will tell you in more detail how to conduct marketing research on your own.

How to Conduct Market Analysis
There is no universal plan that will work for all types of businesses. However, there are general stages by which the analysis is carried out. These can be adapted to any needs.