Introduction to Market Research
Starting the business operation without market research is like going from Prague to Berlin without a map or signboard, and it will cause failure... You need to know which way you will travel and how fast you will be going. So, what is a market research?A good market research plan shows you where to go and who your customers are. A certain order is followed when conducting marketing research. In the research, each stage is related to each other.
As a Yeye Agency, we are doing market research for business for Turkish and Czech companies and our aim is to provide the full aspects of the specific industry in Turkey/Czech Republic, deep insight into the current situation of the specific product in the market and the future scenarios for expansion into Czech & Turkish market.
For example, our recent market research report showed us how important and critical market research is. Yeye has made it possible to look at the wide range of companies that are curious about the size of the small domestic appliances market in Turkey. This Market Research helps to company understand the potential of the Turkish market. The Market research process is where company follows the consumer's consumption habits, preferences, prices approach on a regular basis.
The importance of market research; The increase in market research makes the decision-making process more objective and systematic because research is the transition to an intuitive scientific problem-solving approach.
The market research's marketing advantage is that it helps the marketing manager to provide the necessary, accurate, reliable and up-to-date information to the marketing manager, such as market segmentation, target market selection, marketing programs, performance, and auditing.
When do you need market research?
Companies need to market research for the first point of view. If they have time constraints, this will speed them up and help them grow the project on time. Companies see the availability of data and take measures. If the industry is known by its core, it is better understood the nature of the decision. And they especially need to make it easier to make decisions, to see how important it is to be strategic and tactical aspects.
So, how can you do market research?
In Yeye Market Research Reports, as market research methods, we generally follow the path as follows; economic facts & figures from the requested year with statistic information, about the GDP figures, public debt, inflation rate, currency exchange rate, the average salary for key positions and so on. Overview of Turkey & Czech Republic; Our aim is to show the big picture of the country. Therefore our key headlines are; Current trends in specific sector, culture & traditions and consumer habit, specific product facts, Online & Offline specific Media, Online B2B / B2C specific magazines, Startups in a specific market, popular fairs in a specific industry. Once the company has enough information about country and industry, we are helping them to recognize their competitors who are the big players in the market. Yeye is providing an executive summary of recent regulations and requirements to be an active specific product distributor/producer on the Turkish/Czech market as a legal and fiscal aspect. As a result of all the market research, we are adding expert evaluation and a summary of our own comments that will guide your expansion.
