Gaining a complete understanding of your customers and their behaviour is vital if you are to align your business to meet – and exceed – their expectations. A comprehensive knowledge of your peer group is also essential for you to fully understand the competition and position yourself as “best of breed” in every aspect of your business.
Researching your market gives you this knowledge and gives you an edge.
This global charts and publications giant engaged us to research the buyers of its products. Having sold through intermediaries for its entire business life, our client had limited knowledge of who its actual buyers were and how the purchasing process was performed. Our industry reach and market research expertise allowed us to undertake a comprehensive study in Europe, Asia and the Americas to deliver valuable feedback to inform future product development and marketing activities
Using our extensive market experience we were able to define our client’s global market potential. This was then segmented by geography and market sector. Working alongside our client to ensure we covered all the required ground, we established a comprehensive questionnaire and discussion guide.
Our market knowledge allowed us to quickly identify relevant purchasers of charts and publications across the entire spectrum of ship owners, operators and managers in all parts of the world. We discussed the purchasing process at face-to-face meetings, by telephone and over Skype with a wide range of industry professionals.
We developed a full report and a presentation which included audio and video clips of interviews. We were able to deliver conclusions and insights to our client that clearly defined market sectors and individual peculiarities; the range of potential buyers; buying behaviour; company context; purchasing influences and much more. This was used to re-define internal thinking, as a catalyst for new products and – importantly – to enhance the client’s effectiveness and reach into its potential customer pool.