Client’s business objectives predefine the depth of a market study. It can include the following components:
- Government impact on the market. Review of applicable state support and limitations (taxes, subsidies, grants, etc.), regulatory and geopolitical factors, macroeconomic drivers.
- Examination of the sector, historical analysis. Current demand for the product/service, customer buying process and habits. Analysis of economic and demographic trends affecting the future need in the product/service (regional population growth, infrastructure expansion, industry developments, exporting opportunities, etc.), market price forecasts.
- Analysis of competitors, their set of offerings, value-added features and services, market positioning, message, differentiators, price structure, etc.
- Estimation of target market segments’ size, client’s market share.
Engagements can be augmented with the go-to- market strategy, which is built on findings and observations from the market study and client’s operational details.