Catalyst has been delivering market research and analysis services for over 7 years and offers services on a Global Scale. We help our clients to navigate the turbulent and ever-expanding business environment, offering crucial external business information and expertise in its efficient management and utilization.
We turn information into actionable insights for daily decision-making and strategic plans.
To complete comprehensive market research and analysis, it is important to know your competitors and the competitive landscape. An overview of your competitors, their strengths and weaknesses are to be prepared. We understand the customer needs and preferences that are you competing to meet and position each competitor's product against your products.
Considering your competitors, we determine what are the similarities and differences between their products and yours. We also consider how their prices compare to yours and how well they are doing. We design and execute a specific plan to compete. For example, we can advise you to offer better quality services, lower prices, more support, or easier access to services according to the demand of the situation. We counsel and guide you to address the following basic issues:
Define your target market.
Determine the size of the target market.
Research about the size and the revenue opportunity that your business holds.
Analyze how fast the overall market and your specific segment are escalating.
You must know the most important characteristics in your industry. Is it driven by high or low volume? Is it capital or labor intensive? Is it seasonal?
Identify and profile your targeted customers by their consumer budgets and by how they make decisions to buy a product.
Get to know about your direct and indirect competitors and understand their impact on you.
Identify the features that differentiate your product from the competitors'.
After all basic issues have been addressed and your competitive research is completed, you should be able to describe all of your competitors and their strengths and weaknesses. You should be able to clearly articulate what is different about your product and why customers will choose your product rather than the competitors'. You should also be able to describe your target market and target customer and what will motivate them to purchase your product. Finally, you should be able to explain how you will gain and keep a sustainable competitive advantage.
Business analysis can include market research analysis such as analyzing consumer data from such sources as transaction records, consumer surveys, polls...etc. With the correct information, the team is able to work together in an efficient manner to create a plan that has a higher chance of success. This can include analyzing budgets, cash flows, inventory costs, profit and loss statements, and balance sheets. For instance, a supermarket that analyses and tracks customer purchases will be able to design and implement marketing strategies around their customers' personal shopping habits. As well, data from surveys is another example of analyzing the information to determine the best way to market products and services.
Due to changing demographics and consumer habits, it is important that a business has a clear understanding of their current and future trends in order to meet changing consumer preferences.
Fortunately, we can help business collect and analyze relevant data to improve operations and marketing strategies. In today's highly competitive market, you cannot run a successful business without understanding your customers as well as all facets of the company. The effective business analysis allows a business to take the guesswork out of business decisions.