Developing and implementing an effective high growth strategy requires good knowledge of the market in which the company operates.
High growth companies often operate in markets where competitors are also innovating and creating their own disruption, therefore it is especially helpful to have an unbiased view of the market.
We believe that a good understanding of the market is fundamental to effective strategy development, hence market research is often incorporated as part of strategy development projects.
Challenges organisations face with Market Research:
Most companies’ understanding of the market is based on anecdotal information and second-hand impressions of what the competition are doing. This may be sufficient for managing ongoing activities, but it is rarely adequate when developing strategies for the business… especially high growth strategies.
Without accurate market research it is very easy for companies to direct investment into less profitable, and less useful, areas of the business.
Even when independent analysts have published reports on the market, these reports are rarely targeted directly at the company’s needs.
It is also important to find out the view of customers and staff, but it is hard for the company to get honest and frank feedback itself.
Benefits of SKCI’s Market Research service:
Our expert researchers will provide you with scientifically backed data targeted to your specific needs, giving you the information you require to develop your strategy and to use in discussions with investors and other stakeholders.
Thorough and accurate market research is essential in ensuring investment is being directed to the right areas of your business. It allows you to focus your efforts on products and services with the most potential to compete with other disruptors in the market.
Because we understand the needs of high growth businesses, we agree a focussed and targeted brief with you in advance, delivering the information you need on time and on budget.
How does SKCI deliver Market Research in your company?
The first step of the project is to define the brief, including the market and geographic scope, and the type of information required.
Our researchers have access to a range of databases as well as extensive industry contacts. This allows us to deliver high-value insights on your markets at an affordable cost.
A typical market research brief might include requests from the following areas:
By sourcing market specialists with an in-depth understanding of your industry SKCI’s Market Research service includes gathering quantitative data on:
- Current market size and segmentation
- Estimates of competitor revenues
- Expected percentage changes in shares
- Qualitative analysis of future trends
- How is innovation affecting the market?
- Who are the disruptive players, and what can we learn from them?
- Key technologies and developments
- Direct feedback on the views of your customers (the “Voice of the Customer”)
- Direct feedback from your staff and suppliers.
Our objective is to ensure you have the information you need to make the best decisions for your organisation in the short, medium and long term.