If you want to enter a new market or increase your share in a current market, understanding the scale of the opportunity is crucial. Allocation of resources; targets for sales staff; innovation: these activities and decisions must be understood in context of the size and nature of the opportunity. This, in itself, is challenging.
l Going
beyond knowledge
CCMR¡¯s market opportunity research provides practical and actionable
answers to the most frequent questions faced by businesses looking to expand
their market share, including:
What is the size of the market and is it
big enough to interest my business?
What proportion of the market is ever
likely to be interested in our offering?
What are the precise requirements in terms
of the whole customer value proposition ¨C core product, service offering and
intangibles?
What are the promotional messages and
channels we should adopt?
How can I price my products and services
in the new target market?
What is the optimum channel strategy and which specific intermediaries should we do business with?
l services
To
answer these questions, we tailor a B2B opportunities research study for your
business with key components, such as:
l Market sizing research ¨C To know the
overall market size and, above all, the addressable market size, i.e. the size
of the segment willing and able to pay for the value you provide.
l Value chain analysis ¨C The starting point
to understanding any market is drawing out the market map to find out: how
products and services get to market and how this is changing; how many
distributors there are and what value they add; how approaches of
multinationals and local businesses differ.
Once we have mapped out the market on your behalf, we go on to recommend
the path of least resistance in the supply-chain.
l Needs assessment research ¨C Market
requirements vary significantly between countries. Understanding how your product or service may
need to be tailored to a new market is crucial to ensure successful market
entry.
l pricing strategy ¨C Competitive pricing
studies, as well as statistical price optimisation studies, are a crucial part
of our offering for businesses serious about succeeding in a new market.
The
output of our market opportunity research is a comprehensive market entry
strategy, plus tactical action plan.
This output covers the entire marketing mix of product, price, place and
promotion and forms the basis of an implementation workshop in which a clear
way forward is established.