apeironmrc - Tumblr blog

[apeironmrc]

The Future of Market Research in Singapore : Trends Every Business Should Know

The future of market research in Singapore is poised for significant transformation, driven by several key trends that every business should be aware of. As technology continues to evolve and consumer behaviors shift, market research methodologies are adapting to provide deeper insights and more accurate predictions. Here are some crucial trends shaping the future of market research in Singapore:

Data Analytics and AI Integration: Advanced data analytics and artificial intelligence (AI) are revolutionizing market research trends. In Singapore, business strategy leverages AI-driven tools to analyze vast amounts of data quickly and derive actionable insights. AI enables predictive analytics, sentiment analysis, and real-time consumer behavior monitoring, allowing companies to make informed decisions swiftly.

Mobile Research: With smartphone penetration at an all-time high, mobile research methodologies are becoming predominant. Mobile surveys, geolocation-based insights, and in-app feedback mechanisms are providing researchers with access to a more diverse and engaged audience in Singapore. This market research trend enhances the accuracy and timeliness of data collection.

Ethnographic Research: Understanding consumer behavior Singapore, its cultural and social context is gaining importance. Ethnographic research methods, such as observational studies and participant interviews, help businesses in Singapore uncover deep-seated consumer motivations and preferences. This approach goes beyond quantitative data to provide qualitative insights that are invaluable for market strategy development.

Virtual Reality (VR) and Augmented Reality (AR): VR and AR technologies are revolutionizing how market researchers conduct studies. In Singapore, these technologies are being used to create immersive consumer experiences, simulate product interactions, and gather feedback in controlled environments. VR and AR offer a glimpse into consumer reactions that traditional methods cannot replicate.

Privacy and Ethical Considerations: As data privacy regulations evolve globally, including in Singapore with the Personal Data Protection Act (PDPA), businesses must prioritize ethical data collection and usage practices. Consumers are more aware of their rights regarding personal data, necessitating transparent and secure market research methodologies.

Real-Time Feedback and Agile Research: The demand for real-estate market research insights is driving the adoption of agile research methodologies in Singapore. Businesses are moving away from lengthy research cycles to agile approaches that provide continuous feedback loops. This agility enables companies to respond promptly to market changes and consumer trends.

Collaborative Data Ecosystems: Partnerships between market research firms, technology providers, and industry experts are fostering collaborative data ecosystems in Singapore. These partnerships facilitate the integration of diverse data sources, such as social media analytics, IoT (Internet of Things) data, and transactional data, to create comprehensive consumer profiles and predictive models.

The future of market research in Singapore is characterized by technological innovation, data-driven insights, and a commitment to ethical practices. Businesses that embrace these trends and adapt their strategies accordingly will be well-positioned to navigate the dynamic Singaporean market landscape effectively.

[apeironmrc]

Navigating Market Trends: How Startups Can Stay Ahead with Market Research Service

“The aim of marketing is to know and understand the customer so well, the product or service sells itself.” – Peter Drucker

Navigating market trends is crucial for startups aiming to stay ahead in competitive landscapes. A robust market research service can be the compass that guides these ventures towards success. Here’s how startups can leverage such services effectively:

Understanding Customer Needs

Market research unveils invaluable insights into customer preferences, pain points, and evolving trends. Startups can conduct surveys, interviews, and data analysis to uncover what drives their target audience. By understanding customer needs early on, startups can tailor their products or services to meet these demands effectively.

Competitive Analysis

Knowing your competitors is as vital as understanding your customers. Market research helps startups identify key competitors, analyze their strategies, strengths, and weaknesses. This intelligence enables startups to position themselves uniquely in the market, highlighting their competitive advantages and addressing gaps left by competitors.

Identifying Market Opportunities

Market research identifies emerging opportunities within the industry. By tracking market trends, consumer behavior shifts, and technological advancements, startups can spot gaps in the market or nascent trends to capitalize on. This proactive approach allows startups to innovate and introduce solutions that resonate with the market’s current demands.

Mitigating Risks

Startups face inherent risks, from market volatility to changing regulations. Market research provides data-driven insights that help mitigate these risks. By forecasting market conditions and anticipating potential challenges, startups can adopt preemptive measures to safeguard their operations and investments.

Refining Marketing Strategies

Effective marketing hinges on understanding your audience and market dynamics. Market research helps startups craft targeted marketing strategies that resonate with their audience. From defining brand messaging to selecting the most effective channels, startups can optimize their marketing efforts to maximize reach and engagement.

Supporting Decision-Making

In a fast-paced startup environment, informed decision-making is critical. Market research equips startup founders and decision-makers with comprehensive data and analysis. Whether it’s product development, pricing strategies, or expansion plans, data-driven insights reduce uncertainty and increase the likelihood of making successful strategic decisions.

In essence, Apeiron a dedicated market research services, Singapore empowers startups to navigate uncertainties and capitalize on opportunities effectively. By understanding customer needs, analyzing competitors, identifying market trends, and mitigating risks, startups can foster sustainable growth and maintain a competitive edge in dynamic market environments. Embracing market research as a strategic asset is not just advantageous but essential for startups aiming to thrive and lead in their respective industries.

[apeironmrc]

The Ultimate Guide to Conducting Effective Market Research in 2024

Research is creating New Knowledge – Neil Armstrong

1. Define Your Objectives: Begin by clearly defining what to be acheived with research. Whether it’s launching a new product, entering a new market, or improving existing offerings, specific objectives will guide the entire research process.

2. Identify Target Audience: Identify and segment the target audience based on demographics, behaviors, and preferences. Understanding who the customers are and what motivates them will shape research approach and ensure relevance in the findings.

3. Choose the Research Methods: Select appropriate research methods based on the objectives and audience. Qualitative methods such as interviews and focus groups provide insights into attitudes and motivations, while quantitative methods like surveys and data analytics offer numerical data for statistical analysis.

4. Design Your Research Instruments: Develop clear and concise research instruments such as surveys, interview guides, or data collection protocols. Ensure questions are unbiased, relevant, and structured to elicit actionable responses from participants.

5. Collect Data: Execute research plan by collecting data from the target audience. Utilize online surveys, social media listening tools, or in-depth interviews to gather comprehensive insights. Aim for a representative sample size to ensure the validity and reliability of the findings.

6. Analyze Data: Organize and analyze the collected data using appropriate analytical techniques. To look for patterns, trends, and correlations that provide meaningful insights into consumer behavior, market dynamics, and competitive positioning.

7. Interpret Findings: Draw conclusions based on analysis. Identify key findings, strengths, weaknesses, opportunities, and threats (SWOT analysis) relevant to business objectives. Translate data into actionable insights that inform strategic decision-making.

8. Make Strategic Recommendations: Based on findings, develop actionable recommendations to address market challenges or capitalize on opportunities. These recommendations may include product enhancements, marketing strategies, or adjustments to  business model.

9. Implement and Monitor: Implement strategic recommendations and monitor their impact over time. Continuously evaluate market dynamics, consumer preferences, and competitive responses to refine strategies and maintain relevance in the market.

10. Stay Agile and Informed: Market research is an iterative process. Stay agile by adapting  research approach to evolving market conditions and consumer behaviors. Regularly update insights through ongoing research efforts to stay ahead of the competition.

By knowing how market Research is conducted, will provide valuable insights into target market, enhances decision-making processes, and drives business growth.

[apeironmrc]

UNLEASH THE POWER OF “WHY” DIVE DEEP INTO CONSUMER MOTIVATIONS WITH APEIRON MARKET RESEARCH

Focusing on customer makes a company more resilent – Jeff Bezos, CEO@Amazon

Unleashing the power of “why” is akin to unlocking the hidden treasure trove of consumer motivations, desires, and preferences. In today’s ever-evolving market landscape, understanding the “why” behind consumer behavior is not just advantageous; it’s imperative for businesses striving to stay ahead of the curve. Enter Apeiron MRC, leading Consultants in delving deep into these motivations to provide invaluable insights for businesses seeking to navigate the complex maze of consumer preferences.

Consumer behavior is a multifaceted phenomenon influenced by a myriad of factors, including psychological, social, cultural, and economic variables. While the “what” of consumer behavior—such as purchasing decisions, brand choices, and product preferences—is readily observable, it is the “why” that holds the key to unlocking deeper understanding and actionable insights. Apeiron Market Research specializes in peeling back the layers to uncover the underlying motivations that drive consumer actions, behaviors, and attitudes.

At the heart of Apeiron’s approach lies a commitment to rigorous research methodologies coupled with a nuanced understanding of human behavior. Through a combination of qualitative and quantitative research techniques, including surveys, focus groups, in-depth interviews, and observational studies, Apeiron delves deep into the psyche of consumers to unearth the drivers behind their decisions.

One of the primary areas where Apeiron excels is in exploring the intricate interplay between rational and emotional motivations. While rational factors such as price, quality, and functionality undoubtedly influence consumer choices, it is often the emotional triggers that exert the greatest sway. By tapping into consumers’ emotions, aspirations, fears, and aspirations, Apeiron uncovers the underlying emotional drivers that shape consumer behavior. Whether it’s the desire for status, the need for belonging, or the quest for self-expression, understanding these emotional drivers allows businesses to craft more resonant marketing messages and develop products that forge deeper connections with consumers.

Moreover, Apeiron MRC recognizes that consumer behavior is not static but rather dynamic and evolving. As such, the research firm adopts a forward-looking approach that goes beyond merely understanding current trends to anticipate future shifts in consumer preferences. By staying abreast of emerging societal, technological, and cultural trends, Apeiron helps businesses anticipate changing consumer needs and preferences, enabling them to proactively adapt their strategies to stay ahead of the curve.

In addition to understanding individual consumer motivations, Apeiron also specializes in uncovering broader market trends and dynamics. Through comprehensive market analysis and segmentation, Apeiron provides businesses with a holistic view of the competitive landscape, enabling them to identify untapped opportunities and mitigate potential risks. Whether it’s entering a new market, launching a new product, or repositioning an existing brand, Apeiron’s insights empower businesses to make informed decisions that drive sustainable growth and competitive advantage.

In today’s hyper-competitive business environment, the ability to understand and anticipate consumer motivations is a game-changer. By unleashing the power of “why” through Apeiron Market Research, businesses can gain a deeper understanding of their target audience, develop more effective marketing strategies, and create products and services that resonate on a profound level. In essence, Apeiron enables businesses to not only meet but exceed the expectations of today’s discerning consumers, forging lasting relationships built on trust, authenticity, and relevance.

[apeironmrc]

Don’t Be Left Behind! Uncover Hidden Opportunities in the Market with Apeiron surveys

Success occurs when opportunity meets preparation – Zig Ziglar

Apeiron MRC Surveys are sure to be invaluable resources for uncovering hidden opportunities in the market. By collecting data from various demographics and analyzing trends, we provide insights into consumer preferences, behavior, and emerging markets. These insights can help businesses make informed decisions about product development, marketing strategies, and expansion plans, ensuring they stay ahead of the competition.

Here are a few ways Apeiron MRC surveys can help businesses uncover hidden opportunities in the market:

Identifying Unmet Needs: Apeiron Surveys can uncover gaps in the market where consumer needs are not being adequately addressed by existing products or services. By identifying these unmet needs, businesses can develop innovative solutions to fill the gaps and gain a competitive edge.

Understanding Consumer Preferences: Apeiron Surveys allow businesses to gather valuable feedback from consumers about their preferences, likes, dislikes, and purchasing behavior. By analyzing this data, businesses can tailor their products or services to better meet the needs and preferences of their target audience.

Spotting Emerging Trends: Apeiron Market Research company can help businesses stay ahead of emerging trends by monitoring changes in consumer behavior and preferences over time. By identifying these trends early on, businesses can adjust their strategies accordingly and capitalize on new opportunities before their competitors do.

Assessing Market Potential: Apeiron Surveys can provide valuable insights into the size and potential of different market segments. By understanding the demographics, interests, and buying habits of various consumer groups, businesses can better assess the market potential of different products or services and allocate resources accordingly.

Evaluating Brand Perception: Apeiron Market Research company can also help businesses gauge consumer sentiment towards their brand and competitors. By measuring factors such as brand awareness, perception, and loyalty, businesses can identify areas for improvement and develop strategies to strengthen their brand image and reputation.

Overall, Apeiron MRC play a crucial role in helping businesses uncover hidden opportunities in the market by providing valuable insights into consumer behavior, preferences, and emerging trends. By leveraging these insights effectively, businesses can stay ahead of the competition and drive growth and innovation in their respective industries.

[apeironmrc]

Common Pitfalls to Avoid in Your Feasibility Study

Comprehensive Data Collection: One of the primary pitfalls in a feasibility study is relying on incomplete or inaccurate data. The study’s success hinges on the quality of information gathered. Inadequate data can lead to flawed conclusions, resulting in poor decision-making. At Apeiron, to mitigate this risk, we invest time and resources in comprehensive data collection and ensure the accuracy and relevance of the information obtained.

Pros & Cons Assessment: Optimism is essential in business, but overly optimistic assumptions can skew the results of a feasibility study. Unrealistic expectations regarding market demand, project timelines, or cost estimates can lead to unforeseen challenges and project failure. We at Apeiron focus on balancing optimism with a realistic assessment of potential risks and challenges to provide a more accurate picture of the project’s feasibility.

Alternative strategies: Focusing solely on a single solution without considering alternative options is a common pitfall. Failure to explore alternative approaches or solutions may result in missed opportunities or overlooking more viable options. At Apeiron we manage to perform a thorough feasibility study considering multiple scenarios and analyzing the pros and cons of each to ensure that the chosen solution is the most suitable for the given circumstances.

Decision Makers Input: Stakeholders engagement is critical for the success of any project, and neglecting their input during the feasibility study can lead to dissatisfaction and resistance later on. At Apeiron we work hand in hand with decision makers in the process to ensure that their perspectives, concerns, and requirements are considered, leading to a more comprehensive and well-rounded feasibility study.

Regulatory and Legal Factors Analysis: Neglecting to assess the regulatory and legal landscape can pose significant risks. Non-compliance with laws and regulations can result in fines, delays, or even project cancellation. At Apeiron we include a comprehensive review of the legal and regulatory requirements relevant to the project to identify potential obstacles and ensure compliance.

Adequate Risk Assessment: Failing to conduct a robust risk assessment is a major pitfall in feasibility studies. Every project involves uncertainties, and understanding and quantifying these risks are crucial for effective decision-making. At Apeiron, comprehensive risk analysis is an integral part of the feasibility study, addressing potential challenges and outlining strategies to mitigate or manage identified risks.

Sufficient Financial Analysis: Financial considerations are a cornerstone of feasibility studies, and inadequate financial analysis is a significant pitfall. This includes underestimating costs, overestimating revenue projections, or neglecting to account for economic fluctuations. At Apeiron we conduct a thorough financial analysis, including cash flow projections, break-even analysis, and return on investment calculations.

A well-executed feasibility study is instrumental in guiding successful business decisions. Apeiron, a leading market research company in Singapore ensures avoiding these common pitfalls and provides Adequate Feasibility study services assuring reliable foundation for decision-making, leading to more successful and sustainable projects.

Tags : market research, Feasibility Study, Business Plan Business Expansion, Business Consulting services Source : https://apeiron.sg/common-pitfalls-to-avoid-in-your-feasibility-study/

[apeironmrc]

The Importance of Market Research for Small Businesses in Singapore

INTRODUCTION

Singapore is the world’s 4th biggest financial centre and one of the five busiest ports and most of all one of the major commercial hub in the world. Companies established in Singapore enter the Free Trade Agreements that helps the company to trade easily in the global market. 

One of the most important things that small business owners need to focus on is market research. Any company looking to expand and initiate a new business in any country should have a clear understanding of the market to succeed in the country. 

Market research helps business owners uncover vital information that helps set a clear strategic direction for the future. This process involves collecting and analyzing data on the target market, competition, and industry trends to make informed decisions. You can learn about consumer needs and demands, growth opportunities, competitors’ tactics, and underserved or new markets.

In this article, we will discuss the importance of market research for small businesses in Singapore and the steps required to conduct effective research.

MARKET RESEARCH FOR SMALL BUSINESSES IN SINGAPORE

The aim of market research is to look at the market associated with a particular good or service to ascertain how the audience will receive it. Market research is an essential tool for small businesses in Singapore to gain a competitive edge in the market. Here are some reasons why:

1. Helps To Identify Customer Needs And Preferences

Customer needs are the motivating factors that lead someone to buy a product or use a service. Companies learn about customers’ needs by identifying who their customers are. This includes defining a target audience and segmenting them based on demographics and other attributes. Once a business knows its target audience, they have a better view of the specific needs that drive them to buy. Market research allows small businesses to understand their customers’ needs, preferences, and behaviors. This information is critical in developing products and services that meet their customers’ expectations, leading to increased customer satisfaction and loyalty.

2. Provides insights into the competition

Competitive insights can help you get quite an edge over your marketing rivals. Even a new business places itself in a widely competitive situation against its fast-growing competitors. At the same time, you need to be very certain that your competitors are not doing the same thing as you.   In such a case, what you need is a better competitive marketing intelligence solution that responds to competitive insights. So, you can make a better profit by investing in competitor monitoring. 

Market research helps small businesses to identify their competitors and their strengths and weaknesses. By analyzing the competition, small businesses can learn from their competitors’ mistakes and develop strategies to stay ahead.

3. Helps to make informed decisions

Informed decision-making requires a structured process that includes defining the problem, collecting and analyzing data, evaluating options, and choosing the best course of action. This information can help small businesses to allocate their resources effectively and maximize their profits.

Market research provides small businesses with the data they need to make informed decisions about pricing, advertising, and product development. 

4. Helps to identify new opportunities

Market research can help small businesses to identify new opportunities in the market. By analyzing industry trends and consumer behavior, small businesses can develop new products and services that meet the changing needs of their customers. When you’re targeting potential customers listen to their needs, wants, challenges and frustrations with your industry. 

You also need to conduct broader industry analysis to understand the attractiveness of the industry you’re going to enter and identify whether the industry is growing or shrinking? 

Required Steps for Conducting Effective Market Research

Now that we have established the importance of market research for small businesses in Singapore, let’s look at the steps required to conduct effective research.

1. Define the Research Objectives

The first step in conducting effective market research is to define the research objectives. It’s an idea you want to understand deeper by performing research. Objectives should be the driving force behind every task you assign and each question that you ask. What do you want to achieve with your research? Are you looking to identify new opportunities, understand your customers’ needs, or analyze your competitors? 

Defining your research objectives will help you to focus your research efforts and collect relevant data. These objectives should be centered on specific features or processes of your product.

2. Identify the Target Market

The next step is to identify the target market. Identifying a target market using strategies such as defining your audience and tracking data can help you make sure your ideal consumers see your advertisements and products. Who are your customers? What are their demographics, interests, and preferences? 

Understanding your target market is essential in developing products and services that meet their needs and preferences. Learning the different strategies for identifying your target market can make this process easier. 

3. Choose the Research Methodology

There are several research methodologies that small businesses can use to collect data, including surveys, focus groups, and interviews. Some common methodologies include qualitative research, quantitative research, experimental research, survey-based research, and action research. Each method has its advantages and disadvantages, and the choice of methodology will depend on the type of research hypotheses, research objectives and budget. 

The aim of the research is not just to describe your methods, but to show how and why you applied them and demonstrate that your research was rigorously conducted.

4. Collect Data

Once you have chosen your research methodology, it’s time to collect data. The process of gathering and analyzing accurate data from various sources to find answers to research problems, trends and probabilities, etc., to evaluate possible outcomes is Known as Data Collection. During data collection, the researchers must identify the data types, the sources of data, and what methods are being used. 

Make sure that your data collection process is systematic and unbiased to ensure the accuracy of your findings. Accurate data collecting is crucial to preserving the integrity of research, regardless of the subject of study or preferred method for defining data (quantitative, qualitative).

5. Analyze the Data

After collecting the data, the next step is to analyze it. Data analysis is defined as a process of cleaning, transforming, and modeling data to discover useful information for business decision-making. Look for patterns, trends, and insights that can help you to achieve your research objectives. Use statistical tools and software to analyze the data effectively.

6. Draw Conclusions and Make Recommendations

The final step is to draw conclusions and make recommendations based on your research findings. When conclusions are drawn from raw data and when recommendations are made then data is converted into information. It is information which management needs to reduce the inherent risks and uncertainties in management decision making.Use your conclusions and recommendations to inform your business decisions and strategies.

[apeironmrc]

Feasibility studies for startups- Everything you need to know

A feasibility study Singapore is crucial for startups. Your feasibility study consultant Singapore is a highly experienced individual who will focus on the singular question – is your business idea practical /feasible? In the process, he will cover all related areas like technical feasibility, operational viability, legal requirements, financial viability, etc., and help you understand with supporting facts and figures as to whether you should proceed with your project idea. This way you can save precious resources and even look for a new project if need be. 

Significant savings in energy, time, and money

Conceptualizing a project involves a significant amount of energy and time followed by the investment needed to launch the project. When a feasibility study consultant Singapore hands over his report you will quickly see the larger picture of the project itself which would ideally include a SWOT analysis prepared by your consultant. 

You can discover opportunities

A feasibility study can highlight the positive elements of your project and even identify untapped markets or new ways to implement your ideas and even throw light on the current market trends for your product or service. Depending on how you fix the terms of reference with your feasibility study consultant Singapore, the report may even include effective advertising and promotional strategies so that your business can take off from a high pedestal.

How it works 

When you engage a feasibility study consultant Singapore for your startup project, he will start with a preliminary analysis for an in-depth of your project to determine its viability and also carefully look for any roadblocks that can become overwhelming with time. Fundamentally, the service or product that you are offering should be unique and capable of quenching a market that is thirsting for a solution. 

Market survey

Your feasibility study consultant Singapore will conduct an exhaustive market survey to understand competitor activity if any, the market size for your product/service, demographic characteristics, how the target market responds to new products, and purchasing power. For small and medium-scale projects, this study can also include operational and technical feasibility.

Income projection

The project feasibility study will also include an income projection to give you an idea of the revenue and income you can expect when your project is up and running. This income projection would generally be drawn up for 3 years 

The feasibility study should be the first step for your project

To ensure that you are launching into a viable and profitable startup business, you should ensure that you find the best feasibility study consultant Singapore to provide you with a well-structured study report.

[apeironmrc]

Importance of Feasibility study for Business Growth

“People who count their chickens before they are hatched act very wisely because chickens run about so absurdly that it’s impossible to count them accurately.” ― Oscar Wilde

Business success is primarily determined in terms of ROI, which is the amount of profit that will be generated from the venture. Perception of the same is an imperative call that enhances the Initiation of business proposal. Feasibility study followed by appropriate Business planning are the right tools in place that gives a perfect shape to the proposal. Engaging expertise for feasibility studies can optimise time and money along with diligently serving the study requisites.

A feasibility study is a comprehensive analysis of the Market for a product, service or location in terms of Economical, Technical, operational, demographical, legal and competition factors.

Economic Feasibility: This assessment plays crucial role in determining the positive economic benefits that can be provided by the proposed project. This involves a cost/ benefits analysis of the project, that gives clear picture on the cost and benefits associated with a project. This gives decision makers a choice on investment decisions and well in advance planning on financial resources to be allocated for the project. It also serves as an independent project appraisal, in turn enhancing its credibility.

Technical Feasibility: This assessment focuses on the technical resources needed for the project. That involves the evaluation of the hardware, software, and other technical requirements, training needed for the proposed system. This helps in determining whether the currently available technical resources can cover up the capacity needs and also whether the technical team is capable of converting the ideas into working platforms. Additional technical advancements / support systems needed to meet the capacity and technical training needed to handle the project are to be proposed.

Legal Feasibility: This assessment studies on laws and regulation compliances that should fall in place for the project and guides on meeting the paper requirements. Also investigates whether any aspect of the proposed project conflicts with legal requirements like delimiting laws, data protection acts or social media laws. The organization can save considerable time and effort by having firsthand information on legal compliances.

Operational Feasibility: This assessment involves analysing whether the proposed project would subject to meet the requirements of the organisation, overcoming the challenges of Project Constraints like Technical, Technology, Budget, Resource etc, Corporate Constraints like Financial, Marketing, Export, etc and External Constraints like Logistics, Environment, Laws, and Regulations, etc. Within the stipulated time or estimated time for the project

The significance of feasibility study is” hitting the mark” before committing resources, time, or budget. Further it uncovers new ideas that could give new dimensions for the proposed project.

Engaging Market Research and Consulting, an expertise in Conducting a feasibility study is always beneficial to the project as it gives the organization and other stakeholders a clear picture of the proposed project. Some key benefits identified are

» Identifying Project credibility

» Improves project teams’ focus

» Identifies new scopes / unlock new dimensions

» Provides Insights on “go/no-go” decision

» Identifies potential business alternatives

» Enhances the success rate by evaluating multiple parameters

Several other factors considered under feasibility study includes product or service marketability, company’s financial stability, technology and resources required, return on investment and competition.

Hence a Project feasibility study gains its importance by evaluating a project before starting it on terms of its viability and potentiality to be successful, that guides through decision making and moving forward.

Source Link: https://apeiron.sg/importance-of-feasibility-study-for-business-growth/

[apeironmrc]

Feasibility Studies and Business Planning: Laying the Foundation for Success

Although feasibility studies and business planning may seem to be a singular task, they are in fact distinct. Feasibility study comes ahead of a venture and can form the foundation for a business plan. While a business plan focuses on sustainability and growth, a feasibility study deals with the viability of the business idea. Therefore, the feasibility study determines whether a business idea is viable and the business plan is created after an opportunity has been identified.

What is a feasibility study?

In the context of feasibility studies and business planning, a feasibility study will delve into whether the project is economically feasible and good enough to move ahead with the implementation of the project. This study will identify potential obstacles that the project can counter and evolve ways to overcome the obstacles. The objective of such a study is to help the project owners to understand the risks and opportunities, identify sources of income, calculate costs and potential profits, and see how they align with the overall objectives. This study is generally conducted in two stages with the first one being a preliminary study and the second one a more detailed study.

The preliminary study will address market description, general variables, cost estimation, and profit estimation.

The second stage will address Market study, financial study, technical study, legal study, social and environmental study.

Business plan

After the feasibility study, a business plan is drawn out to explain how the project is implemented. This study will comprehensively describe the company including its marketing plan, financial plan, competition, market analysis, product specification, and company team. A business plan will also analyze the project duration consistent with the feasibility study and usually for a period of 3 or 5 years.

Conclusion

A feasibility study aims at establishing the profitability and viability of a business venture and comes ahead of investing in the proposed venture. The feasibility study contains various analyses, calculations, projected estimations, and similar details. A business plan on the other hand explains the strategies and tactics to be employed to grow and sustain the business. Together, Feasibility Studies and Business Planning will aid the business owner in deciding whether it is worthwhile to proceed with the plan and invest a significant amount of money.

[apeironmrc]

Feasibility studies for startups- Everything you need to know

A feasibility study Singapore is crucial for startups. Your feasibility study consultant Singapore is a highly experienced individual who will focus on the singular question — is your business idea practical /feasible? In the process, he will cover all related areas like technical feasibility, operational viability, legal requirements, financial viability, etc., and help you understand with supporting facts and figures as to whether you should proceed with your project idea. This way you can save precious resources and even look for a new project if need be.

Significant savings in energy, time, and money

Conceptualizing a project involves a significant amount of energy and time followed by the investment needed to launch the project. When a feasibility study consultant Singapore hands over his report you will quickly see the larger picture of the project itself which would ideally include a SWOT analysis prepared by your consultant.

You can discover opportunities

A feasibility study can highlight the positive elements of your project and even identify untapped markets or new ways to implement your ideas and even throw light on the current market trends for your product or service. Depending on how you fix the terms of reference with your feasibility study consultant Singapore, the report may even include effective advertising and promotional strategies so that your business can take off from a high pedestal.

How it works

When you engage a feasibility study consultant Singapore for your startup project, he will start with a preliminary analysis for an in-depth of your project to determine its viability and also carefully look for any roadblocks that can become overwhelming with time. Fundamentally, the service or product that you are offering should be unique and capable of quenching a market that is thirsting for a solution.

Market survey

Your feasibility study consultant Singapore will conduct an exhaustive market survey to understand competitor activity if any, the market size for your product/service, demographic characteristics, how the target market responds to new products, and purchasing power. For small and medium-scale projects, this study can also include operational and technical feasibility.

Income projection

The project feasibility study will also include an income projection to give you an idea of the revenue and income you can expect when your project is up and running. This income projection would generally be drawn up for 3 years

The feasibility study should be the first step for your project

To ensure that you are launching into a viable and profitable startup business, you should ensure that you find the best feasibility study consultant Singapore to provide you with a well-structured study report.

Source Link: https://apeiron.sg/feasibility-studies-for-startups-everything-you-need-to-know/

[apeironmrc]

Cracking the Code Leveraging Singapore Market Research to Understand Consumer Behavior

The vibrant market of Singapore is renowned for its brisk change in consumer behavior trends. Market research companies in Singapore constantly evaluate these changes to provide focused guidance to their clients. To service this continuously evolving need of the consumer, businesses should understand this type of consumer behavior and effectively cater to the needs of the consumers. Therefore, marketers should understand what consumers buy, where and when they buy, and the frequency of their purchases. To gain a comprehensive understanding of target groups or customers, marketers should leverage multiple methodologies including surveys, focus groups, and modern-day digital tools.

Emerging trends

A deep understanding of the emerging trends in any market is essential to leverage your market research and gain a grasp of consumer behavior. In the context of the Singapore market, the following are some of the major trends that are influencing consumer behavior in 2023 and beyond.

Personalized experiences — Most customers in Singapore are increasingly seeking personalized experiences. Brands acknowledging the unique needs and offering tailored services and products earn the appreciation of customers. This trend is seen across several sectors like finance, retail, healthcare, and more. Market research companies in Singapore have also endorsed this shift in preference.

Focus on wellness and health — Focus on wellness and health is now firmly embedded in the Singapore customers. Therefore they are increasingly health-conscious and choose services/products that support their healthier lifestyle.

Sustainability — The demand for environment-friendly and sustainable products is increasing with every passing day. Consumer awareness of the environmental impact of different products is increasing and they are now making informed choices in supporting sustainable products.

Experiences vs. Possession — Younger Singaporeans today are more focused on experiences than possession of physical goods. This trend is clearly evident in the enhanced popularity of travel, dining, and entertainment experiences.

Technology — With technology evolving almost by the day, there has been a dramatic shift in consumer behavior. Shoppers in Singapore are showing a growing preference for digital channels for their daily chores like banking, shopping, entertainment, dining, and more. This digital adoption has been further catalyzed by the COVID-19 pandemic.

Conclusion Businesses can flourish when they leverage consumer behavior trends and the emerging trends to carve out marketing strategies and product offerings. Further, by offering personalized experiences, businesses can adapt to the shift in customer preferences focused on sustainable practices, health, and wellness. Market research companies in Singapore continuously track the changes in consumer behavior for the benefit of their clients.

Source Link: https://apeiron.sg/singapore-consumer-behavior-market-research-companies/

[apeironmrc]

The Importance of a Solid Business Plan: A Roadmap to Success.

Crafting a developed business plan goes beyond being a document: it acts as a navigational guide, towards achieving success. Whether you’re embarking on a startup venture. Aiming to expand an existing business having a strong business plan serves as your guiding light. Here’s why it holds importance:

1. Clarity of Vision: A business plan compels you to define your goals and objectives like setting your destination on a GPS. Without it you may find yourself meandering without purpose.

2. Strategy Development: Consider the blueprint for your business strategy outlining how you will attain your goals, the resources required and potential challenges to overcome.

3. Risk Management: Through planning a business plan assists in identifying risks and devising strategies to mitigate them. This proactive approach can help prevent mistakes in the future.

4. Investor Confidence: When seeking support from investors presenting a thought out plan showcases dedication and professionalism — significantly boosting the likelihood of securing their backing.

5. Resource Allocation: allocating resources is made possible through planning with a business plan in hand. By managing your budget, workforce and time utilization unnecessary wastage can be avoided.

6. Progress: Your plan includes goals and measurable indicators allowing you to easily monitor your progress and make necessary adjustments.

7. Flexibility: Markets are constantly. Its important for your business to adapt accordingly. A business plan serves as a document that can be regularly updated to reflect opportunities or address challenges.

8. Communication: An organized business plan is not only useful internally but also serves as a valuable tool for effectively conveying your business ideas to potential partners, customers and employees.

9. Legal and Regulatory Compliance: It ensures that your business complies with all legal and regulatory requirements. Ignoring this aspect can lead to legal troubles that could cripple your business.

In a world of uncertainties, a solid business plan is your compass. It not only keeps you on the right path but also helps you navigate through the ever-changing landscape of entrepreneurship. So, before you embark on your next business venture, invest the time and effort to create a business plan — it might be the most important step on your journey to success.

[apeironmrc]

Gaining a Competitive Edge: Unveiling the Power of FMCG Market Research in the Retail-Manufacturing Industry

Introduction In the highly competitive retail-manufacturing landscape, companies must strive to gain a competitive edge to thrive and succeed. One crucial avenue for achieving this is through insightful and data-driven market research in the Fast- Moving Consumer Goods (FMCG) sector. FMCG products, such as food and beverages, personal care items, and household goods, are staples in consumers' lives, making it vital for companies to understand consumer behavior, market trends, and their competitors to stay ahead of the game.

Understanding the Importance of FMCG Market Research The FMCG market is fast-paced and dynamic, with ever-changing consumer preferences and industry trends. Conducting comprehensive market research is the foundation for making well-informed business decisions. By gaining insights into consumer needs, desires, and shopping habits, retailers and manufacturers can tailor their product offerings to meet market demands effectively.

Market research also helps identify potential gaps in the market and unmet consumer needs, opening up opportunities for innovation and growth. Moreover, understanding competitors' strategies and positioning allows companies to differentiate themselves and stand out in the crowded FMCG space.

Defining Research Objectives and Target Market Before diving into FMCG market research, it's essential to establish clear research objectives. Are you looking to launch a new product, improve an existing one, expand into new markets, or strengthen your brand's position? Once objectives are set, identifying the target market is the next crucial step. Define the specific demographics, preferences, and behaviors of the consumers you aim to reach to focus your efforts effectively.

Embracing Primary and Secondary Research Primary research involves gathering data directly from consumers through methods like surveys, focus groups, and interviews. By engaging with your target market directly, you can obtain valuable insights into their preferences, pain points, and feedback on your products or services. Additionally, secondary research involves analyzing existing data from reliable sources, such as industry reports and market research firms. This data provides a broader perspective on market trends, competitor performance, and overall industry dynamics. Both primary and secondary research complement each other, providing a comprehensive understanding of the FMCG landscape.

Leveraging Data Analytics and Technology Data analytics is a powerful tool for interpreting large datasets, spotting patterns, and making data-driven decisions. Retailers and manufacturers can utilize Point of Sale (POS) data to analyze sales patterns, optimize inventory management, and predict consumer behavior. In today ‘s digital age, embracing technology and e-commerce is crucial. A user-friendly website, seamless online shopping experience, and effective digital marketing strategies can significantly impact brand visibility and consumer loyalty.

Monitoring Market Trends and Adapting to Change FMCG markets are susceptible to rapid changes in consumer preferences and external factors. Staying informed about emerging trends, technological advancements, and shifting consumer behaviors allows businesses to adapt quickly and maintain a competitive edge. Agility and flexibility are key traits for success in this ever-evolving industry.

Building Brand Loyalty and Enhancing Customer Experience In a highly competitive market, building brand loyalty is essential. Engaging consumers through loyalty programs, personalized offers, and exceptional customer service fosters a lasting relationship. Satisfied customers are more likely to become brand advocates, leading to increased referrals and improved customer retention.

Conclusion In conclusion, gaining a competitive edge in the retail-manufacturing FMCG industry requires a deep understanding of consumers, competitors, and market dynamics. Through comprehensive market research, leveraging data analytics, embracing technology, and staying agile, retailers and manufacturers can effectively meet consumer demands, create innovative products, and strengthen their market position. By focusing on building brand loyalty and enhancing the overall customer experience, companies can stand out in this fast-moving and highly rewarding sector. With continuous market research as a driving force, businesses can confidently navigate the challenges and opportunities presented in the FMCG retail-manufacturing industry.

[apeironmrc]

Comprehensive Industry – Specific Market Research Reports

Comprehensive Industry-Specific Market Research Reports: A Strategic Guide for Businesses

Discover the power of industry-specific market research reports in driving business success. This comprehensive guide explores the key benefits, examples, and case studies of market research reports in various marketing industries, including education, healthcare, service industries, manufacturing, hospitality and tourism, and retail and brands. Gain valuable insights and gain a competitive edge in your industry on how to leverage market research reports to make informed decisions and stay ahead in your industry.

Industry-Specific Market Research Reports: A Strategic Guide for Business Success

A market comprises people, products, sellers, and prices; it’s where transactions and exchanges occur. An industry is a group of companies selling a specific product or service.

Market analysis is a comprehensive study of a specific market within an industry, including an examination of its various components, such as market size, key success factors, distribution channels, target audience, profitability and growth rate, and market trends.

Key strategies that can be used in market research are:

Porters Five Forces

SWOT analysis

PESTLE

Understanding the Importance of Market Research Reports

Every business aims to provide the best possible product or service at the lowest cost possible. Market research will help you develop a successful marketing strategy. The results offer you insights into what it would take to succeed in the market.

Key Benefits Of Industry-Specific Market Research Reports

An industry is a prime component of any country’s financial setup, as it produces sellable goods and services, which keeps the economy running. The term “industry” refers to a group of specific companies that deal with similar goods and services. A “sector” refers to a larger segment of the economy that comprises many industries under it.

To analyze an industry, you need to look at industry leaders, emerging players, and industry trends, then track changes over time whichs will uncover:

A company’s position in its industry

The competitive landscape

Opportunities to diversify, expand, or shift tactics

Industry trends and changes

How Market Research Reports Enhance Decision-Making

Risk is inherent and it can lead to serious consequences for an individual’s career success or a company’s longevity. When the competition is fierce and the margin of error is thin, relying on faulty assumptions can be fatal. The Importance of Market Research for Validation and Decision Making can mitigate these risks by helping to test your hypotheses, validate your insights, and build your sense of confidence.

The Role Of Market Research Reports In Identifying Market Trends And Opportunities

Market trend analysis is valuable for data-driven decision-making, as it consolidates trends extracted from data and puts them and their key aspects, such as customer behavior, for example, into perspective. In turn, this helps businesses recognize patterns and make predictions on various strategies and campaigns, along with discovering future trends.

Case Studies of Market Research Reports

Case Studies in Marketing Research & Product Management (icmrindia.org)

28 Case Study Examples Every Marketer Should See (hubspot.com)

Market Research Case Studies | Research America (researchamericainc.com)

Here are the Market research industries we are specialized in:

Market Research Insights for the Education Industry

Education: Education market research is the process of collecting and analyzing information about the education industry. The data gleaned is used to uncover key insights about program and/or course content and development; student, staff, customer and client satisfaction; recruitment efforts; branding; market trends; pricing and much, much more.

Unveiling Opportunities in Healthcare through Market Research

Healthcare & Medical:  Healthcare marketing is a process of strategic outreach and communications built to bring in new healthcare consumers and keep them engaged with the healthcare system through their healthcare journey, service, or product. Healthcare market research enables you to evaluate and identify gaps in patient experience and the services. More importantly, it helps uncover opportunities to improve healthcare services before the gap causes any issue.

Market Research for Success in Service Industries

Service Industries: The service industry is made up of professions that deliver services, or intangible goods, to consumers. The service industry is made up of many firms whose sole purpose is to deliver services to the consumer market. There are two types of service firms. 

Equipment-Based Service Firms

People-Based Service Firms

To provide appropriate business solutions to customers, as well as to stay ahead of competitors, extensive data analysis is a must irrespective of the service industry. 

 Leveraging Market Research in the Manufacturing Sector

Manufacturing:  Manufacturing market research can uncover insights about the customer journey that allow you to better understand and address consumer concerns, wants and needs and create advertisements and campaigns that are more effective.

You will be better able to persuade consumers to buy your goods or services if you have a thorough understanding of their aspirations, pain points, and values. 

 Navigating the Hospitality & Tourism Landscape with Market Research

Hospitality & Tourism: With regards to the tourism industry, through different components of a feasibility study, developers gain a better understanding of the demographic, geographic, economic, and financial factors of the market to justify costs and investments.

Additionally, a market research company can help to answer questions surrounding market saturation, current and future local competition, price comparisons, and more.

 Market Research Strategies for Retailers & Brands

Retailers & Brands: Market research is valuable in helping retailers create or improve upon many business initiatives. As consumer preferences quickly change and evolve, it is impossible to rely on the same routine or what was considered the best practice earlier. 

By segmenting customers, brands will learn which pricing strategies work best. Common retail market research studies include intercept surveys, mystery shopping, customer segmentation, competitive research, and more.

References | See also:

The Importance Of Market Research

5 Reasons Why Market Research Matters

Mastering Market Research

#Apeiron Market Research and Consulting #business consulting services #feasibility studies #Market Survey Company  #Singapore Market Research #survey companies in singapore #Top Market Research Companies

[apeironmrc]

Mastering Market Research: What Is Market Research And Why Is It Important?

What Is Market Research And Why Is It Important?

Market research is the process of gathering information about your target market and customers to verify the success of a new product, help your team iterate on an existing product, or understand brand perception to ensure your team is effectively communicating your company’s value effectively. Market Research is important because today’s consumers have a lot of power. They can research your product or service and make purchase decisions entirely on their own.

Market research is a critical component in the research and development (R&D) of a new product or service. By conducting market research, businesses can gain valuable insights into their target audience, identify their needs and preferences, and ensure that their new product or service is tailored to meet those needs. Without proper market research, companies risk investing time and resources into developing a product or service that fails to resonate with their intended audience.

Benefits Of Conducting Market Research For Businesses

Market research allows you to meet your buyer where they are. By engaging the right people and data, a business can use this research to position itself in the market and predict where the market will go in the future. Market research allows you to get information from a larger sample size of your target audience, eliminating bias and assumptions so that you can get to the heart of consumer attitudes. As a result, you can make better business decisions from knowing the bigger picture. It also provides insight into a wide variety of things that impact your bottom line.

Types of Market Research

The aim of market research is to look at the market associated with a particular good or service to ascertain how the audience will receive it. This can include information gathering for the purpose of market segmentation and product differentiation , which can be used to tailor advertising efforts or determine which features are seen as a priority to the consumer. Market research consists of a combination of information that has been gathered by the company or by a person hired by the company, secondary information, or information gathered by an outside source.

Primary Research

Primary data is first-hand information you gather yourself, or with the help of a market research firm. You control it. It’s useful when segmenting your market and establishing your buyer personas. Primary market research tends to fall into one of two buckets: exploratory and specific research.

Secondary Research

Secondary research is particularly useful for analyzing your competitors . Secondary data is pre-existing public information, such as the data shared in magazines and newspapers, and government or industry reports. You can analyze the data in new ways, but the information is available to a large number of people.

Exploratory Research

Exploratory market research gathers lots of open-ended data from many people to better understand a problem or opportunity. The goal is to gather perceptions and opinions regarding an issue, so your company can decide how to address it. But first you have to understand how your market sees the issue. To collect information about a problem and insights about how to solve the problem. As a researcher, you will use secondary data that currently exists to provide insights about your goal. You’ll need to remain open to what you discover. The data you collect may indicate new ways to restructure your research problem or look at it from a different perspective. The goal is to collect more information about a topic, not pose or substantiate a solution.

Descriptive Research

Market research firms often use specific questions to gather feedback on a new advertising campaign, or to refine a planned new product. In specific research, the business can take a smaller or more precise segment of its audience and ask questions aimed at solving a suspected problem. Descriptive research tests the research question to discover if it is accurate or inaccurate. This method measures how often and to what extent variables in the study are correlated. You can collect data through observations, surveys, or interviews. Because the researcher records the data, bias can occur. As opposed to a survey that is directly filled out by the respondent, the data can be skewed if the researcher records a response that they personally prefer.

Causal Research

Causal research looks at the cause-and-effect relationship between variables. If one variable changes, the researcher can record the impact on another variable. Causal research can answer “what if” questions that include price changes, packaging changes, adding or removing product changes and more.

Steps to Conduct Market Research

Market research is the act of gathering, analysing and interpreting information for the purpose of solving marketing challenges. It’s an ongoing process to become familiar with the business environment, customers and their preferences. In marketing research, companies examine all four Ps, which are product, price, place and promotion. This includes public relations, the development of new products or services, promotions and advertising, pricing, branding, modes of distribution, and market conditions. Here are the steps to perform market research:

Step 1: Define The Problem Or Objective

An actual market research plan requires identifying the goals followed by planning. If you frame your problem too broadly, you will get vague answers. Too narrow, and you may not understand enough. Determine the scope of what you want to study and what conclusions you hope to arrive at. Think about what decisions will be made based on your research. When it comes to executing an effective marketing research process, it’s wise, to begin with the end in mind. In short, what do you aim to accomplish through your research?

Step 2: Determine Research Design

The initial phase of this planning focuses on choosing your data sources — where you will get the information and insights you are looking for. At the core of this effort is effectively identifying your target audience. This is essential because you want to be sure that the feedback and data you gather come from the people who are most relevant to what you are researching.

Step 3: Identify Data Collection Methods

Data captured from surveys, interviews, and other methods reveal customer behaviours that indicate why they buy particular products or take certain actions. Typically, most products are designed to solve a customer’s problem. You can rely on qualitative and/or quantitative data to help you get started.

Step 4: Design Data Collection Forms

When it comes to acquiring insights into a given issue, study, research, or even individuals, data is highly crucial. This is why it is viewed as a critical component of all the systems that comprise our modern world. Collecting data is integral to conducting market research. Organisations connect with stakeholders — such as prospects, customers, competitors, investors, and employees — to learn more about their target market and how they can better serve them. The data an organisation collects can steer its entire business strategy, so it’s vital for the data to be high- quality, secure, and relevant.

Step 5: Sample Design And Selection

Sampling is the process of selecting a few items from a given population to be investigated. Sampling offers several benefits over the census. There are several ways to draw a sample from the definite or indefinite population. Each type of sampling procedure has its merits, demerits, and applicability. Depending upon the need, an appropriate sampling procedure may be followed. In real practice, not a single type, but a combination of several types of sampling procedures is used. Sampling procedures can be categorised into two broad classes:

Probabilistic Sampling Procedure

Non-probabilistic Sampling Procedure

Step 6: Data collection

Data collection is described as a systematic way of acquiring, monitoring, measuring, and analyzing reliable information to support research undertaken by groups of specialists from many fields. While the methodologies and aims of each field may differ, the main data-gathering methods employed in the process are generally the same.

Step 7: Analyze Data

Researchers use several statistical methods to analyze their data, including advanced decision models and predictive analytics. Averages, statistical regression, spreadsheets and charts may all be part of your analysis. Depending on the research tools you use, analytics and reporting, like those included in online surveys, will supply ready-to-use information. Your data should be tabulated and ready for the next phase where you present your findings to your company or research sponsor for their review.

Step 8: Prepare And Present Report

The purpose of creating a market research report is to make calculated decisions about business ideas. Market research is done to evaluate the feasibility of a new product or service, through research conducted with potential consumers. A market report gives the company’s marketing department an in-depth picture of customers’ needs and wants. This knowledge can be used to improve products, prices, and advertising. Good marketing research will help you identify those risks and allow you to mitigate them.

Market Research Template

Market Research Examples

Survey Research

Surveys represent a cost-effective way to determine consumer attitudes without having to interview them in person. Consumers are sent surveys in the mail, usually with a coupon or voucher in order to incentivize participation. These surveys help determine how consumers feel about the product, brand, and price point.

Focus group Research

Focus groups provide you with a handful of carefully-selected people that you can have test out your product, watch a demo, provide feedback, and/or answer specific questions. This type of market research can give you ideas for product differentiation, or the qualities of your product that make it unique in the marketplace.

Observation Research

Observation-based research allows you to sit back and watch the ways in which your target audience members go about using your product or service, what roadblocks they come across, and which aspects of it could be easier for them to use and apply.

Experiment Research

Experimentation is a useful form of analysis that professionals use in a variety of industries. Experimental research is a method of gathering information and data on a subject through observation in controlled settings Understanding the benefits of experimental research design can help you better use it in your professional career. By assessing the results of this type of study, you can determine correlations between the variables applied and their effects on each group.

Originally published at https://apeiron.sg on April 3, 2023

[apeironmrc]

Brand Assessment — Apeiron Market Research & Consulting

Brand assessment is an important and necessary step in every business venture. Doing a brand assessment gives you the chance to examine your brand’s strength, emphasise its value to clients, and, if necessary, reposition your brand to reflect changes in the market. It also helps a company reassert its goals and values so you can focus on why your brand stands out and how you can capitalise on that.

But how does one go about it? You must reach out to a market research consultant that can study the brand in every capacity and offer you informed and sustainable solutions. This is exactly what we do at Apeiron Market Research & Consulting. With Us, you can do a brand assessment which can in turn help you understand where your brand stands and how to get to a better place by playing to its strengths.

Some things that can help your brand elevate its position in the market are:

Brand Awareness Study: This helps you get an understanding of where your company stands with its audience. With this study, you can tell which demographics are being targeted and how we can either increase the reach to a larger demographic or a whole new one.

Perceived Quality Assessment: Perceived quality helps us understand a customer’s perception of a brand rather than its objective value. It is an important aspect of brand assessment because it helps us understand consumers and how to cater to them accordingly.

Brand Association & Sentiments Study: With this study, you can establish what customers are associating your product with.

Consumer Loyalty Assessment: When assessing consumer loyalty, you can establish a pattern of what consumers are buying repeatedly and whether or not they return.

Comparative Brand Study: This helps us understand the competition for the brand and how to sustain in a market against them based on similarities and differences.

Brand USP Analysis: USP means “Unique Selling Point”, so with this analysis we can establish what makes a brand stand out and how to use that to our advantage.

All of the above can be done at Apeiron Market Research & Consulting . We provide the best market research consulting service in Singapore to help brands and companies grow to the level of success they deserve to have.

Apeiron Market Research and Consulting , Singapore are market leaders in providing accurate business and market intelligence reports tuned to your exact needs. We specialise in Market Research , Statistical Data Analysis , Feasibility Study , Business Plan , Business Expansion , and Business Consulting services.

Originally published at https://apeiron.sg on October 22, 2022.