What is Market Research?
At Invetive, we help you to take your product in the new world market by research. If you would like to start and run a successful business you need to know about all your potential and existing customers & suppliers.
You need to know the market conditions to take the risk of investment. Who is selling which products? What are those features you will be competing against?
Statistics and research data helps us find if your new attempt will succeed or not from the beginning. We give you valuable information about your competitors and what they are doing. This helps entrepreneurs a lot…
Market research is important because it allows us to find out opportunities that can be very valuable for new establishments as well as companies that want to branch out.
Step1: Primary Research
We collect information using direct resources such as surveys, interviews, talking to customers and other businesses in the market. These are called original or primary resources. Research can be formal or informal depending on the need. It should help you discover the customer needs and how your business can improve. What are the good practices other businesses are using and how you can also act upon same methods.
Some of the primary research examples are:
- Telephone, mail or email surveys
- Face-to-face or written customer feedback
- Group studies.
After long years of experience we decided to unite design, build, maintain & market processes under same roof…There are many companies out there offering services in design, building, maintenance and marketing areas. Unfortunately none of them is offering all at the same time.
We take a product from design stage to build stage, then to maintain and market stage while keeping you informed at all times. We exist to enlighten the world by driving innovation and creating unique marketable products. We develop tailored solutions to transform your new ideas into refined products backed by a strong business model; establishing you as a pioneer of your industry.
Step2: Secondary Research
We also perform secondary market research at Invetive. Secondary research is to utilize the data that has already been collected and analysed by other sources. These can be very useful if they are understood correctly. Secondary research data could be found from government statistics or trade publications, business magazines etc.
One of the best resources is the Australian Bureau of Statistics.(ABS) which is Australia’s official agency providing valuable information on different industries across Australian market. They cover a wide range of economical and social matters.
We extract required information from ABS and other sources to help you find out the information you need to understand your customer portfolio and make a business plan.
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