Understanding the market through market exploration

During this process, we look at various aspects, such as trends, competitive position, customer needs, market growth, and customer behavior. We investigate where the opportunities for expansion or entry lie and identify potential barriers and obstacles. In addition, we analyze the practical feasibility of your plans, taking into account factors such as location, target group, budget, and operational aspects.

Based on these insights, we help you develop a solid strategy and make a well-informed decision for the further development and positioning of your product or service.

How is Market exploration ?

Effective Market exploration insight into opportunities, trends, and developments within your market segment. This often involves online research among consumer panels, which allows you to accurately select your specific target group. When the research focuses on the "why" question, in-depth qualitative research can be conducted to gain deeper insight into motivations and needs.

During this research, we compare existing visitors and customers with potential new target groups to identify overlaps in interests and behavior. This provides insight into how you can effectively appeal to your new target group without losing existing customers and visitors.

To reach a difficult target group, additional telephone research can be used, especially when the target group is difficult to reach via panels. We have direct access to an extensive consumer panel (B2C) and a broad panel with participants from the business community (B2B).

How does Markteffect make a market exploration unique?

Through market exploration, we provide insight into the opportunities and possibilities within your market segment. This research yields valuable information on various aspects, such as customer needs, target audience behavior, market trends, and competitive positioning. By collaborating with you on specific topics and critically analyzing the insights that market exploration can provide, we ensure that the report offers maximum value for your strategy and decision-making.

Furthermore, we can support you in interpreting and applying the research results through the Markteffect Next Step Session. This is a strategic and interactive workshop where we collectively explore how the insights from market exploration can be translated into concrete actions and strategies. These sessions, organized with your internal project team, often lead to new ideas, practical strategies, and fresh inspiration.

By actively listening to you, analyzing your query, and only then providing advice, we ensure relevance. With over 30 years of experience, we know the market inside out. This helps us understand your requirements. Consequently, we are pleased to offer you tailored advice. For this, we employ a proven approach that prioritizes collaboration with our clients.

What does market exploration offer you?

When exploring new markets, we use a proven model consisting of five consecutive steps. Each step brings us a little closer to concrete results, recommendations, and action points to successfully market your new product or service:

• Target group definition – determining the specific target group for your concept.
• Target group recognition (location and distribution) – insight into where your target group is located and how they are geographically distributed.
• Target group presence (density) – determine how many potential customers are present within specific locations or target groups.
• Identifying desires, needs, and usage intent – understanding what your target audience considers important and how they would like to use your product or service.
• Statistical substantiation of target group size, segments, and regions—a quantitative analysis of the size and distribution of your target group across different segments and regions.

Based on this analysis, we work with you to determine the basic principles of your proposition, enabling you to reach the optimal size and full potential of your target group.