Test the feasibility of a new product or business concept, and if it is able to attract potential customers

Find out what price to set based on business objectives – usually a conjoined study where the optimal price vs combination is found

Find out how you can grow your market share in a specific market

Segment the market based on certain characteristics to be able to analyse each segment in a more in-depth manner

Find out a brand’s value and its position in the market against its competitors and how it can position itself more effectively against the competition

Find out from potential customers what functions and features are needed and desired in a product before launching it into the market

Find out the market landscape in a new market and how to enter the market efficiently, including sourcing for potential partners and establishing sales channels

Find out market size and predict future trends and market size

Find out the awareness towards a brand, their attitudes towards the brand as well as how the brand is used by customers

Find out the characteristics, perception and effectiveness of various media for marketing and advertising

Find out what optimizations should be made to a product that is already available in the market to improve its performance and marketability

In-depth analysis of the market, often includes competitors, market size, share of market etc

Analyse consumers’ tastes and preferences

Find out how satisfied a customer is with a company’s products/services or brand

Measure effectiveness of channels and find new channels for sales and distribution