Startups and new companies:
Before starting a business : To identify market opportunities, assess demand for products or services, and develop an effective go-to-market strategy.
To attract investors: Investors require a deep understanding of the market to assess the potential of a startup. Market research helps to prepare a sound business plan .
Long-established companies:
To expand into new markets: Companies planning to enter new geographic markets or new product categories conduct an analysis to assess potential opportunities and risks.
In new product development: Analysis helps to understand consumer uruguay email list needs and preferences, which is necessary to create successful new products or services.
To improve current products: Companies can use analysis to obtain feedback from customers and identify areas for improvement of current offerings.
To diversify product range: Companies looking to diversify their products or services conduct a niche analysis to identify new opportunities.
Small and medium enterprises:
To find growth opportunities: Businesses looking to find new avenues for growth and differentiation from larger competitors can use niche analysis to identify unique market segments.
To increase competitiveness: Small businesses can focus on narrow segments where their resources and knowledge give them an advantage.