Consumer Goods

The goal of any business is to maximize profits. When launching a product or service on the market, an entrepreneur must be sure that consumers need it and that its product compares favorably with the product of competitors. Only in this case sales will grow and income from them will exceed the costs of organizing production. Such confidence can only be provided by the possession of comprehensive information about the economic conditions in which the business structure is going to work or is already working. This means that you cannot do without conducting a special market research.

Market analysis is a complex task, which consists of identifying the key factors that influence the demand for a particular product in the past, present and future. Knowledge of these factors and the ability to use them allows one to elaborate and implement an effective development strategy for a particular company.

The effectiveness of investing significant financial and other resources sometimes depends on the accuracy of the market ку. Therefore, it is better to entrust the work of market research to professionals who have actually proven their qualifications. The team of Pro-Consulting consists of such specialists-analysts. The number of market analyzes we have performed is approaching one thousand and a half. Among more than four hundred of our clients are both leaders of domestic business and start-up but very promising companies that care about their future.

The professionalism of Pro-Consulting analysts in conducting market analysis is testified by the status of an accredited consultant of the European Bank for Reconstruction and Development obtained by the company. Availability of an EBRD consultant status also implies and indicates a high bar for the quality of our research. Having achieved recognition on the market, we want as many Ukrainian businessmen as possible to take advantage of the fruits of our labor, including those who are just taking the difficult path of entrepreneurship. This is why Pro-Consulting has joined Oschadbank's “Buduy Svoie (Build Your Own)” program as a partner, within the framework of which domestic startups can receive high-quality market research reports at affordable prices.

The range of questions that Pro-Consulting analysts can provide answers to by conducting various types of market research is very wide. In each case, the structure of the market research report is determined based on the goals of the client company.

The purpose of market analysis may be, for example, to describe the major parameters of the certain product consumers. The demand for it is formed in accordance with the motives and wishes of buyers, which must be identified. Analyzing this market element allows you to understand how the product meets the expectations of people and with what marketing means you can attract their additional attention.

It is equally important to understand the place of the company that ordered the research on the market. Without it, it is difficult to plan steps for further development. Therefore, at this stage of market research, work is being carried out to study the range of goods and services offered, their representation in retail outlets of a particular region and the country as a whole, monitor prices for related goods, develop a strategy and tactics to expand the customer's market share.

It is rash for any business to lose sight of the actions of competitors. Our market research reports cover this critical issue as well. We investigate the strengths and weaknesses of companies claiming the same consumer audience as our client. Specialist conducting a market research pays attention to their actions to promote their goods or services, as well as revealed characteristic marketing techniques and consumer reactions to them. Based on the information obtained during the market research, we develop recommendations for the client on the selection of the most effective market methods of competition.

As is known, advertising campaigns are the most effective way to promote products on the market. Indeed, with the help of advertising the manufacturer's brand becomes recognizable and buyers trust the promoted brands more. When conducting advertising campaigns feedback is important. By performing market analysis, we provide such connection by researching the impact of advertising campaigns on the target audience. This makes it possible to promptly adjust their parameters to ensure the most positive client’s impact on the consumers.

Often the reason for the lack of an enterprise efficiency lies within itself. These can be hidden flaws in the organization of work, weak interaction between departments, equipment modernization not carried out in time. All of them will be revealed as a part of the market analysis and management of the client company will receive recommendations for correcting the situation.

Analysts of Pro-Consulting, when carrying out market research, can work through all the blocks of questions described above or only some of them. It depends on the client's wishes. If the client needs only the most general information, then we will offer him an abbreviated version of the market research report - its passport. It will contain basic operational information in a convenient graphic form, as clearly as possible with a minimum of descriptions. The following data are indicated in the passport: total market volume of the product of interest; dynamics of its production; export and import parameters, their geographic structure; consumption structure; range of price changes; major market participants. In a conclusion findings will be drawn and forecast for the further industry development will be given.

An analytical note is more complex and rich in information, in comparison with a passport. This is a market research document that can be considered an intermediate link between the passport and our most labor-intensive product - analytical market research. An analytical note is less exclusive, contains information in a more generalized way than a full-fledged study and takes almost half the time to analyze the market.

Those who wish to receive the most detailed information cannot do it without a complete market analysis - analytical research. Its structure is determined by the interests of the client and most often includes sections describing the general characteristics of the market, issues of its government regulation, production and sales parameters, pricing, consumer characteristics, foreign trade dynamics, investment attractiveness of the industry, taking into account possible risks, and others.

General characteristics, as a rule, are the starting point of any type of market analysis, including analytical research. It serves as a kind of foundation for further work and contains a description of the environment in which the client company operates. Moreover, for completeness of information, the general environment is divided into components each of which is first separately researched and then their interaction is studied. These components include, in particular, the economic environment, which is a set of factors that affect the behavior of a particular product consumers.

The demographic and socio-cultural environment is closely related to the economic one. As a part of the market analysis, information about changes in the population size, its qualitative characteristics and trends in their transformation is researched. All this allows us to understand where the focus of people's needs is at the present time and to predict its possible shift in the future.

We are all influenced by the natural environment and this influence extends to the business area. Thus, production depends on the availability of natural resources, agriculture - the condition of the soil, weather conditions and environmental conditions. And nature has a significant impact on consumer sentiments as well. For example, in cold weather some types of goods sell better, in warm weather - others. Therefore, market analysis covers this issue as well.

In the competitive struggle, the advantage is gained by those enterprises that use more efficient technologies, have the opportunity to improve them, upgrade equipment, use the best means of communication and information processing. This is facilitated by the presence of specialized research institutions in the region, their successes in their field, cooperation with colleagues from other countries. All these aspects are components of the scientific and technical environment without a description of which a full-fledged market research is impossible.

Market analysis will be incomplete also without taking into account the political environment, which significantly affects the economic activity of the state. Changes in legislation, regulations of executive bodies can have both revitalizing and inhibiting effects on entire business areas. The events of recent years in Ukraine and the world are a clear illustration of the correctness of this statement. A separate section is segregated on the market analysis for a detailed description of the government policies impact on sales of individual products.

One of the central places during market analysis is given to the competitive environment in the sale of a product or service of interest research. Indeed, in order to develop a winning strategy for dealing with competitors, it is necessary to collect as much information as possible about them. First, we draw up a general picture of competition on the market, determine its level, the degree of threats to the client, whence and where they are directed from. After that, we single out five to seven largest competitors, identify their strengths and weaknesses, and develop tactics for dealing with them for its market share.

The major goal of such a struggle is to attract the widest possible range of consumers to your product. And for this one need to understand their motives first when making a choice among goods and services with similar consumer properties. It can be taste, price, type of packaging, manufacturer's image, loyalty program or additional service - consumers have their own priorities for different products. One of the market analysis major tasks is to identify and rank these priorities in order to subsequently rely on them when planning advertising campaigns.

A detailed description of all the market analysis sections content will take too much space, so we have given here only its key points. Moreover, the structure of market research is not something immutable. It is exclusive for each client and is determined upon receipt of an assignment from him.

The information obtained during the market analysis is gone through analytical processing, when the particular that is necessary for a specific client is isolated from the general, evaluated from all sides. And based on the results of this assessment, conclusions and proposals for business development are synthesized.

Our summary SWOT tables will indicate to the client the degree of the market in which he operates investment attractiveness, the strengths and weaknesses of the enterprise, the threats and opportunities available. With a document such as marketing research, carried out on the basis of a complete market analysis, you will have all the necessary data to effectively manage your business structure.

Get complete insight into business environment by ordering a market research report from Pro-Consulting.