Market research Singapore

Market research is a type of market research that examines all aspects of the business environment: volume, supply and demand, level of competition, market structure, economic trends, government regulation of the industry and other data, based on which you develop the best strategy to bring the product to market. It is a very important step in developing a business strategy.

The main purpose of the analysis - the study of a particular market for the conclusion of the product or service and make quality management decisions, reducing business risks, as well as saving time and financial resources.

As a rule, market research is requested in the following cases: when purchasing an existing business, intending to invest in a business or open a new business. In all of the above cases, it is necessary to have an idea of possible prospects and risks, as well as the current state of affairs in the chosen market segment.

If you are planning to introduce a product or service to the Singapore market, first of all you will get an answer to the main question - do you need to do it? If the analysis shows that there is no demand for your product in the market, then you will simply save money and resources that will be spent on efforts to conquer the market, which does not need the product.

If the report data shows the opposite - the market needs your product, you will have information on how to market the product, how competitors and customers behave, what tools are used to sell similar products and other data that will save you both time and financial resources.

We provide comprehensive analytics and marketing analysis services in the following countries: Singapore, Indonesia, Vietnam, Malaysia, Philippines, Hong Kong, Myanmar, Cambodia, Thailand and other countries of Southeast Asia and Oceania.

The timing of the research varies from one week to two months. The terms depend on the depth of analysis, the amount of information required, market specifics, as well as individual client's requirements. Terms of order execution are agreed before signing the contract and are reflected in the contract accordingly.

The cost of market research per country/industry ranges from $700 to $4,000 depending on the depth and detail of the analysis.

Market research assesses the state of the market:

• growth zone, the degree of segmentation, the presence of serious players in the market;
• Analysis of market information (the cost of services from major competitors and the average market);
• SWOT analysis;
• analysis of the competitive environment, market share, product range, potential clients;
• assessment of payments for entering the market (the need to obtain licenses and permits, purchase of equipment and lease of premises);
• examination of the competitive advantages of the business and / or the main product;
• determination of the possibility of fast re-profiling of the company/business;
• market trends.

The result of the work is a written report containing basic statistical data, potential risks and opportunities of the analyzed market segment or acquired business, as well as the probability of their occurrence and ways to minimize them.