Market overview by key indicators

Information about the market in which you operate or plan to enter is key when making decisions. When entering the market, the research will avoid risks, which means saving several million dollars. When working in the market, research will provide information on which direction to develop and an understanding of the financial horizon for your company.

Often a brief but insightful overview of the market in a particular region is required. Most often, this is in demand by potential investors or companies making a decision about a new distributor in the region or opening their own representative office.

The minimum size of a representative sample for surveys within the framework of such projects per region is 800 questionnaires. By region we mean any territory for which separate analytics is required (this could be, for example, a city or country). In cases where it is necessary to separately consider and compare data from, for example, 2 cities, the minimum sample is 1600 questionnaires. The minimum period for surveying this quantity is 1 business day.

The cost of a project to analyze market development in the region consists of the cost of desk research (depending on the market), collection of a selected number of questionnaires (fees are charged only for fully completed questionnaires) and the cost of analytics (usually no more than 15% of the cost of data collection)

You can calculate the cost of one questionnaire yourself using our calculator (you will need to enter the number of open and closed questions in the questionnaire, quotas)

The cost of such a study is from 2000 £ (the cost is indicated for a minimum sample).

This type of research uses both quantitative and qualitative marketing research.

A complete market review carried out by BCGroup includes the following steps:

1. Overview of the region, overview of related markets that influence the market in question. Analysis of factors important for the company, such as the GRP of the region, its credit rating, investment attractiveness rating, per capita income of the population, the number of companies in the regional market, capacity and development trends of related markets;
2. Assessing the capacity and structure of the market under consideration, calculating the shares of market participants. Analysis of current market indicators and its players, as well as trends, potential and forecast for the development of the market in question;
3. General assessment of market saturation and attractiveness;
4. Price monitoring, assortment analysis. Gathering up-to-date information about the range and prices of competitors
5. Segmentation, assessment of occupied market niches, selection of target segments: at this stage, the attractiveness of individual segments, their capacity is assessed, the level of competition is analyzed and one or more segments are selected;
6. Analysis of media preferences of selected segments of the target audience;
7. Recommendations for forming a competitive position in the market based on data obtained in the previous stages.

BCGroup's work on the regional market review is structured as follows:

1. A BCGroup specialist clarifies the reasons that necessitated such research and briefly analyzes the market;
2. An NDA (confidentiality agreement) is signed between BCGroup and the company;
3. A BCGroup specialist agrees with the customer on the research methodology and tools (questionnaires, guides, checklists, etc.);
4. BCGroup analysts conduct desk research and request data from various sources;
5. In parallel, BCGroup interviewers conduct surveys and interviews according to the research methodology in a short time;
6. Next, the BCGroup employee transfers the data arrays to the customer’s representative in Excel or SPSS format;
7. After 5-10 days, a BCGroup employee sends an analytical report to the customer based on the results of a review of the region’s market (sample reports)