Research & Analysis

At Ntare Consulting we gather demographic information to better understand opportunities and limitations for gaining customers.

This could include population data on age, wealth, family, interests, or anything else that’s relevant for your business.

Then answer the following questions to get a good sense of your market:

  • Demand: Is there a desire for your product or service?

  • Market size: How many people would be interested in your offering?

  • Economic indicators: What is the income range and employment rate?

  • Location: Where do your customers live and where can your business reach?

  • Market saturation: How many similar options are already available to consumers?

  • Pricing: What do potential customers pay for these alternatives?

Asking consumers yourself can give you a nuanced understanding of your specific target audience. But, direct research can be time consuming and expensive. We use this data to answer questions about your specific business or customers, like reactions to your logo, improvements you could make to buying experience, and where customers might go instead of your business.

Here are a few methods you can use to do direct research:

  • Surveys

  • Questionnaires

  • Focus groups

  • In-depth interviews

Your competitive analysis should identify your competition by product line or service and market segment. Assess the following characteristics of the competitive landscape:

  • Market share

  • Strengths and weaknesses

  • Your window of opportunity to enter the market

  • The importance of your target market to your competitors

  • Any barriers that may hinder you as you enter the market

  • Indirect or secondary competitors who may impact your success

 

Other important factors to consider include level of competition, threat of new competitors or services, and the effect of suppliers and customers on price.

A Ntare Consulting Agent will be more than willing and capable to help in achieving a satisfactory market research report in the industries we work in. This service is included in the management package.

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