| The trade research undertaken
by Lozowick Market Research in various sectors broadly covers the main
types of studies:
|
|
|
|
|
|
Market
opportunity studies |
|
|
|
|
Feasibility studies and new
initiative testing |
| |
|
|
|
Market measurement and structure |
|
|
|
|
Attitude, usage and requirement surveys –
among industrial users and trade intermediaries
|
| |
|
|
|
Identification and monitoring of
customer needs and habits |
| |
|
|
|
Customer satisfaction –
studies comparing customers’ needs and expectations with supplier performance |
| |
|
|
|
Image studies – comparison of perceived
corporate, service and product strengths and weaknesses compared with
competitors |
| |
|
|
|
Trade promotion
effectiveness studies |
| |
|
|
|
Acquisition
studies and competitor profile research |
|
|
| These
projects will involve one or more of the following research methods: |
|
Desk research |
|
Group discussions |
|
Telephone interviews |
|
Mystery shopping |
|
Face-to-face interviews |
|
Postal surveys |
|
Hall tests and street interviews
with household customers |
|
|
| |
|
|
|
| Specific
stages of a project typically involve one or more of the following
elements: |
| Market
opportunity studies: |
| These studies provide a better
understanding of the dynamics, size, structure and buying preferences of a
particular product or service sector by providing information on aspects
such as:
|
|
|
|
Current and potential market
demand
|
|
Supply and demand factors
influencing market trends and rates of growth |
|
What existing suppliers are doing
to exploit and / or counter trends |
|
Extent of market maturity and
sophistication |
|
Rate of new product development
and scope for added value |
|
Relative strengths and weaknesses
of domestic versus other individual sources of foreign supply |
|
Tendering process and supplier
selection criteria, ordering and buying procedures |
|
Best ways of presenting
product / service offer |
|
Labelling, packaging and import
requirements, industry standards and legislation |
|
Distribution channels and final
sales outlets, sales mix and requirements by outlet type |
|
Prices and mark up at each stage
of the distribution chain |
|
Profiles of key suppliers, intermediary and
retailers |
|
Branding and the extent to
which this an issue |
|
Promotions, incentives,
advertising and general marketing support |
|
Trade and final customer openness
to new concepts |
|
Assessing future prospects –
strengths, weaknesses, opportunities and threats |
| |
| These
studies typically combine desk research and trade interviews: |
| |
|
|
|
Desk research – this stage
comprises a thorough search of information sources such as existing
Lozowick Market Research contacts built up in the sector, specialist
data bases and libraries, trade associations, government statistics /
departments, international organisations and other reports. |
|
This stage yields useful
information in its own
right, but also enhances the quality of information at the subsequent trade
interview stage. |
| |
|
|
Interviews are undertaken with
personnel from organisations at various stages of the production and
distribution chain – either face-to-face and / or telephone. The
interviews themselves normally follow of a semi-structured
questionnaire – in other words one combining pre-set questions as well
as allowing respondents ample opportunity to comment on issues in
their own way and offer their own thoughts. |
| Companies
acquiring or investing in another business often value hard facts from an objective outside source. This
type of research aims to add to the existing knowledge, check the
assumptions and perceptions of the acquiring company, and strengthen their
hand in obtaining financial backing. Amongst aspects of the potential
acquisition target company covered (outside of financial statements) are:
|
| |
|
|
Marketplace performance and
comparison with competitors |
|
Changes in company structure –
acquisitions and disposals, extent of foscuss on key business areas and
skills |
|
Management style, calibre and
relations with workforce |
|
Condition of plant and capital
equipment |
|
Products – quality, product mix
and range |
|
Distribution, sales and marketing
capabilities |
|
Relationships with other
stakeholders such as suppliers and key trade customers |
|
Reputation in the market place –
innovator or follower |
|
Notable success and failures –
reasons |
|
Consumer base – extent of
concentration, continuity of business |
| This research requires skill
due to the sensitive nature of many acquisitions and some of the
respondent types who may be consulted, which will include:
|
| |
|
|
Staff of the potential acquisition
target company – managers, researchers and staff |
|
Competitors |
|
Journalists |
| |
| This will be backed up by extensive desk
research, consulting various sources. The core
of the research findings however, will rest upon the interviews. |
| Trade
Promotion Effectiveness Studies: |
|
Perceived success
(amongst trade) of trade promotions and other marketing initiatives
amongst the trade in terms of specific criteria
|
|
Improvements sought in trade promotions
|
| |
| The research relies on in-depth
interviews with key decision-makers such as product buyers, sales and
marketing personnel using a semi-structured questionnaire. |
|
