Our effective market research helps you safely navigate the troubled waters of today’s hyper-competitive marketplace. We help you position to win!
Effective market research is a strategic process that ensures that your company’s goals and business development efforts align. Richter & Company focuses on the key trends and drivers that show where the marketplace is heading. This enables you to position your products and services with your prospective customers, and influence the eventual RFP in your favor.
Our effective market research provides several key benefits:
We help you identify new markets.
If you manufacture widgets, you probably believe you know everything about the widget market, including upcoming opportunities. But suppose you wish to expand into an adjoining market — say, selling widget implementation services? It’s easy to identify who provides and who uses these services, but the art is in identifying where the market is heading and why.
We reduce both your risk and the cost of doing business.
The trend in office-to-office data connectivity has been toward increased use of Ethernet services over private line connections. If you were a manufacturer of T1 test equipment and missed seeing the trend — well, you would have felt its effects. Understanding future markets ensures that you have time to plan for change. It can also keep you from spending money entering markets where your chances of success are slim — for example, markets that are already saturated with low-priced competitors.
We provide you the means to benchmark performance.
Whether you use a Balanced Scorecard or count change in the till, you must be able to measure your performance — and more importantly, identify ways to improve. Market research provides quantitative information that helps you clearly define goals, objectively measure performance against those goals, and define both “get well strategies” when performance suffers and “get rich” strategies when performance is superior.
Richter & Company’s research services provide the competitive edge you need to succeed in today’s changing market. To see how our work can help you win a specific opportunity, please contact us.