Market Research & Competitor Benchmarking
Export To UK Market Research Services – Taking the gamble out of doing business in The UK and Western Europe.
If you are considering entering the dynamic and competitive markets of Western Europe via the natural gateway that is The UK this service is of crucial importance for your business. Whatever you choose to do in your export markets, your business will only be a success if customers like what you are offering and are prepared to give you money in exchange. It’s that simple.
People buy to enable them to do what they want to do and to fulfil their needs. Unless you have an idea of your specific target customers and an understanding of those needs, you will find it very difficult to market your product or service.
If you are considering exports to The UK and beyond Export To UK can
- Define your position in the market place.
- Define your product or service.
- Identify your potential customers, their needs and expectations.
- Determine the price your customers will be prepared to pay.
- Identify the level of quality and service your customers require.
- Describe your competitors, what they offer and their strengths and weaknesses.
- Describe how best to communicate your message to your prospective customers;
- Decide where your advertising campaign should be conducted;
- Estimate your potential market share.
The more detailed your market insight the sounder, more reliable the rest of your business planning will be.
Export To UK has access to numerous published sources that can provide information related to your business idea. However this is rarely good enough, or sufficiently up to date, to base strategic decisions about the future direction of your business.
Export To UK research involves talking to and observing your customers, potential customers and your competitor’s customers. This kind of research provides information that is specific to you, and is concerned with the impact of your business on the market, as well as that of your direct competitors. For existing businesses, this will involve talking to customers, both actual and potential, and looking at past performance on indicators such as sales volume.
For companies new to The UK this kind of research will require an assessment of likely demand, by dealing with potential customers to find out the level of interest.
Our primary research is always validated by secondary research to ensure accuracy and honesty of respondents. It is essential to research the market for any product or service very carefully. If others are already offering something similar, why will customers change supplier? Conversely, gaps may exist because of lack of demand rather than lack of supply.
Our Research – Your Results
The aim of Export To UK market research is always to assist you to make informed business decisions. For instance we can provide you with:-
- Recent and forecasted trends.
- The potential size of your market.
- Level of demand for your product or service.
- Customer characteristics.
Export To UK research will help you to answer these three key questions, before you commit valuable time and resources to your market entry strategy for The UK and Western Europe.
- Customers – can I interest them in my product/service, can I communicate with them, will it be profitable?
- Competitors – will I be able to compete with other businesses in the marketplace?
- Operations – do I have the ability and resources to meet the needs of my customers?
- Is anyone doing this already?
- What do they charge?
- Are there gaps in the market?
- Is anyone likely to replicate what I do very quickly and erode my USP’s? If so who?
- What methods/equipment do they use?
- Are they any good at it and why?
Export To UK will provide you with hard, factual competitor data on which to base your market entry strategy. We visit, meet and drill in to your competitors market position better than anyone else – and that’s a promise.
- How much can I charge?
- Where can I get grant funding?
- Are specialist skills available in the location?
- What specialist regulations will I need to meet?
Where your business is located requires careful consideration.
There are regional influences to consider as a bigger issue, and a finer issue on the subject of physical location is whether or not you are in a place where you can best service your potential customers.
Timing is important. Research must assess how fashionable your product or service is at this particular moment in time and also if your product is within its ‘lifespan’.
The most important form of Export To UK research is a survey of your potential customers. Our aim is to find out exactly what they want. It is the only pre-market entry way to find out if there are enough people out there who will pay for your product/service.
We will always use the most appropriate cost effective methodology for your individual business
- Interviews with…
- Potential Customers
- Focus Groups
- Test Marketing
- Data Analysis
Export To UK will allow you to reach an informed decision
Having undertaken and completed your market research you will now be in a position to use the information to formulate the plans for your market entry strategy – if it has identified weaknesses in your original thinking or assumptions you are able to correct them and revise your strategy accordingly