Market Researchers News
Data analysis as part of market research
Data analysis is one of the essential areas of market research. In every part of market research, whether it is customer analysis, strategy or procurement research, large amounts of data are gathered. In order to analyze these data great expertise is required on both the content and formal levels. This means that staff engaged in the analysis of the gathered data have to be well acquainted with the issues and topics of market research as well as with statistical analysis.
Market analysis: A sound investment for your company?
When it comes to strategic decision making for companies, the results of market analysis are used with increasing frequency. This is because a professionally conducted market analysis can minimize market risks by analyzing the current market situation as far as your product or service portfolio is concerned and by capturing market and consumer trends, which point to future developments. This enables your company to avoid costly management mistakes.
Globalization – a challenge for supply chain management
Globalization has given rise to diverse opportunities both for reducing costs and expanding product diversity, but companies are also faced with increasing complexity. This becomes particularly apparent when it comes to suppliers and the global supply chain. In trying to reduce the costs of procurement companies need to observe worldwide markets and deal with all the aspects and possible problems involved like shipping, tariff etc.
Supplier identification as an important part of procurement research
Procurement research is that part of market research which deals with the procurement of goods and services for your company. It comprises diverse fields such as spend analysis, supplier identification and category expertise. Especially when it comes to supplier identification, support from an external provider like Market Researchers can turn out to be a sound investment with long term benefits for your company.
Surveys
One of the reasons for outsourcing your market research is the design and conduct of surveys. This is a complex area, which would be extremely time-consuming if you kept it in-house.
