ARS Market research services private limited is a way of getting an overview of consumers' wants, needs and beliefs. It can also involve discovering how they act. The research can be used to determine how a product could be marketed. Peter F. Drucker believed market research to be the quintessence of marketing. ARS Market research is a way that producers and the marketplace study the consumer and gather information about the consumers' needs. Factors that can be investigated through ARS market research include:
Market segmentation: Market segmentation is the division of the market or population into subgroups with similar motivations. It is widely used for segmenting on geographic differences, demographic differences (age, gender, ethnicity, etc.), technographic differences, psychographic differences, and differences in product use. For B2B segmentation firm graphics is commonly used.
Market trends: Market trends are the upward or downward movement of a market, during a period of time. Determining the market size may be more difficult if one is starting with a new innovation. In this case, you will have to derive the figures from the number of potential customers, or customer segments.
SWOT analysis: SWOT is a written analysis of the Strengths, Weaknesses, Opportunities and Threats to a business entity. A SWOT may also be written up for the competition to understand how to develop the marketing and product mixes. SWOT method helps to determine and also reassess strategies and analyze business process.
PEST analysis: PEST is an analysis about external environment . It includes a complete examine of a firm's Political, Economic, Social and Technological external factors. Which may impact firm?s objective or profitability. They may become a benefit for the firm or harm its productivity.
Brand health tracker: Brand tracking is way of continuously measuring the health of a brand, both in terms of consumers? usage of it (i.e. Brand Funnel) and what they think about it. Brand health can be measured in a number of ways, such as brand awareness, brand equity, brand usage and brand loyalty.
Another factor that can be measured is marketing effectiveness. This includes: