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Market Research is one the main services provided by Eldanel. We distinguish several types of Market Research studies according to their goals and objectives:
- General market research
- Market survey under specific technical task
In marketing research we study the particular market sector and analyze its development trends in order to predict the future of the market.
The market research for a technology or technological product has to deal with two market aspects which are typical of any technological product. The first covers regular market mechanisms, and in this context we study the following main questions: what is the annual volume of this market, what is the growth rate, how it is expected to change and why, who are the main players on the market and what percentage of the market they occupy, what are the prevailing distribution channels and business models, what is the standard services package, characteristics of consumers, markets geography, etc.
The second is a technological aspect connected to the specific features of the technology under consideration, and it must absolutely be taken into consideration for any technological product. In this context we study the circumstances of the appearance of a given technology on the market. What problem does this technology solve? How important is the problem, and how it was solved before the new technology appeared. Was the technology in question aimed at improving the existing processes, or its appearance was connected with radical changes in the existing processes, and with the appearance of the new ones?
To answer these questions, we try to analyze the history of this technology and its development. We also check whether we deal with a principally new phenomenon, or with a solution to a local problem.
To prepare sound market research studies, we have selected a certain sequence in analyzing the factors influencing a market in order to paint its complete picture. While collecting information, we encounter a number of contradictory opinions and forecasts, a lack of coherence in individual flows of information, and different opinions regarding the industry we are analyzing. Therefore, we attempt to systematize the collected information, with an emphasis on examples of successful applications. We also study new tendencies that may prove to be dominant in the future industry development.
While researching a market, we spare no effort for proper selection and processing of a tremendous amount of highly diverse and heterogeneous information. We interview professionals from different companies operating on the market, and use our original analysis system to improve the quality of the research. As a result, we find a correct logical scheme that allows the reader of the market researches prepared by Eldanel to receive answers to the main marketing questions.
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