Market study is an operation that aims to evaluate the sales possibilities of a product or service in a given geographical area and over a given period of time. It involves collecting and analyzing all elements related to a market: market dynamics, competition, potential customers, distribution and positioning. It concerns in particular the relevant information that allows to understand the supply and demand of a given product or service on a market. Properly conducted, it makes it possible to predict the evolution of supply and demand in a more or less distant future.
Involving both qualitative and quantitative studies, market research is thus imposed as both :
- a diagnostic and analysis tool of the current market,
- a decision-making tool for developing strategies and action plans for the future.
The market study can indeed be carried out to make the good commercial decisions to launch a new product, to adapt a product to the demand, to export a product, to establish a new point of sale, to know the position of the company on its market, to know the brand image, to choose the most adapted distribution channel…