When we dream about a project, we are assailed by the question of when will be the best time to start it. This doubt makes sense because one hopes to be able to reduce concerns to their minimum expression. However, the latter is more a path than a goal in reality. The market is dominated by a large series of variables. While some of these circumstances are more relevant than others, the rest can be addressed at later times.
A popular saying goes that, against common sense and some logic, the best time to start is in times of crisis. This is because many competitors leave the competition at the same time that part of the demand is left unattended. However, this is feasible for participants with the necessary resources to overcome times of austerity. For this reason, today we list four opportunities that you should consider to do market studies.
Rebranding. Nothing is forever. Innovation is a goal of many companies since it has been proven that clinging to the past can be counterproductive in many cases. Your brand identity is no exception and it will need to be given a facelift from time to time to adjust to the profile of the new times. Assemble a work team where market analysts contribute their methods and techniques. In this way, you can make sure that what you have designed matches what the audience will accept before making the transition to a new image.
Proof of concept. It is possible that your experience allows you to be very assertive between what is designed within the walls of your company and what people love to buy in stores. However, one is not a fortune teller and there may be situations in which a concept plan has a negative result that reduces the credibility and value of your brand. In these cases, test the idea conceived before it goes to market to make the necessary adjustments.
Opening a branch. Geography is most likely one of the topics that generates the greatest fear for those who want to invest in opening a new point of sale or production. This fact is very well founded. The location of a factory or branch is conditioned by several circumstances that must be known. Ensuring a minimum of guarantees of public services and infrastructure and a universe of nearby consumers are aspects that you want to ensure.
Measuring satisfaction. Whether or not you notice a change in the consumption of your offer, it is essential that you have clarity on the feeling and perception of your brand among people. You could conclude that the box is the only valid thermometer. The evidence indicates that before seeing changes in the sales notes, there is a silence from your consumers and then they spread bad reviews by word of mouth like wildfire. Avoid this short circuit by knowing the feeling of your consumers with evaluations of satisfaction for what they paid and start corrective and preventive measures as soon as possible.
Market Research is a continuous process rather than a set of specific tasks. We know that investment in the subject can make more than one person doubt. However, if the objectives of your brand are well aligned with the planning and execution of studies with brands and consumers, these can be one of your greatest assets to support the growth and strengthening of your company. This year, evaluate the steps you should take to professionalize decision-making in the different areas of your business.
At Acertiva, we have been supporting different companies in the educational, retail, restaurant and pharmaceutical sectors for over twenty years. Thanks to this, we have operating centers in Brazil and Mexico. In this way, we cover your needs in LATAM. If you need to launch a Market Research project, get in touch with us. We will respond with the way in which together we will make your next success story a reality.
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