Examination of Issued Goods

In the process of building a business, especially from scratch, you need to be well-versed in the market in which you plan to work. One of the most important studies before starting is the study of goods (or brands) that are widely known and popular in the industry of your business.

So, the first step is to study the attitude of consumers to a certain product. During the research, the consumers' knowledge of certain trademarks and their level of fame is taken into account. Information about this can be obtained by interviewing consumers within the investigated class of goods. Later the analysis of the received data is carried out, which can be used for:

• Determining the number of potential buyers or customers;
• Determine the main competitors of your company;
• Studying the memorability of a brand or brand;
• Comparison of the relationship between fame and market share ;
• Measurement of discrepancies in fame among several brands;
• Identify the least filled with a certain brand of markets.

Then follows the study of consumer opinions about goods and services of interest to you.
It means that it is necessary to find out whether the requirements of the market and consumers are in line, that is, the market adequacy of the goods. This knowledge makes it possible to obtain the following information:

• demand for goods;
• Consumer requirements for goods and services;
• Motives for buying (ordering services);
• Determining sources of information about the product (service);
• Research of goods (services) by their characteristics.

The last stage is the so-called definition of the level of loyalty to a product or service. To do this, conditionally formed groups of consumers and the frequency of consumption of goods and services. Also at this stage, the influence of satisfaction with the product on loyalty to its trademark or similar brands is studied.

Important is the classification of consumers by the degree of loyalty to the brand. It is often recommended to distribute to individual subgroups (for example, smokers, smokers who smoke rarely, or smokers a few, non-smokers). These studies make it possible to more accurately determine the range of potential consumers, as well as to develop a better marketing program and think over a strategy for expanding the range of consumers.

In addition to the opinions of consumers, market research takes into account the opinions of trade workers, services, and less often lawyers and local authorities. Some firms (often large, as practice shows) order market research to study the competitive ability of certain goods or services in a particular region when conquering new markets or when issuing a fundamentally new product.