Market Research Techniques: Kick-starting a Startup Business

We have heard about the battle plan of startup business. Yes, it is really like going to a war, but, only a pleasant one. However, competitors and challenges are always up to the neck, making some rethink on wading back to gates or plunging straight into bustling industry. Here are some clever market research techniques devised to be the armor for every struggling or advancing startup firm.

Know the Industry and Consumers

Going in with big dreams is always good, but not without being knowledgeable about the target industry and consumers. The scope of your firm’s product/services completely depends on the available or created demand, and relevance of the same in industry. Be unique and out of the box in striking a bond with customers, but do not go off track. For e.g. you cannot force people to eat rice, if they really love to have wheat food products, but, you can introduce wheat cake than wheat cookies (which could be their staple snack).

Be Attentive to Opponents

What the competitors are doing, thinking, and strategizing does hold the noose to your success. We are not advising you to mimic the key players, but learn from their experiences and mistakes. A good market research and analysis will inform you about the competitor’s weaknesses, which could be exploited for own benefit. Launch what they cannot, do what they have not, to pocket most of the customers. Axe down the threats you face, and play on the strengths.

Have a Backup Plan

Going with a strong and steady plan for startup business is a safe way, but even safer is to have a backup up plan for progress. It is just a precautionary and a smart measure, in case the current strategy faces a hindrance, asking a lot of efforts to re-initialize the same newly. Get expert business professionals who are quick to undertake market research technique for an apt alternative, if something goes wrong.

Unleash your Master Skills

Do not reveal all your aces at ones, keep some for later and take the competitors by surprise. By this, we do not mean to not take the right step when needed. But, startups are thought as weaklings. However, you can depict how strong you are by moving the pawn at accurate moments with the master skills the company professionals have been hiding all the while. Draw a relative and thorough run of market research and analysis to acquaint with business do’s and don’ts.

Growing Scope of Global Magazine Publishing Market in 2014-2018

The circulation of niche trade magazines in 2015 has spurted at 0.2% and by 2018 it will scale to US$98.1 billion from 2013 figures of US$97, as reported by Magazine Publishing Industry Analysis. Publishers are following in steps of the trend and converting their information propagation to paid digital editions. However, the commercial and trade industry for publishing still has a scope among professionals and is supposed to add more followers to the list, according to the Market Research and Analysis. There are critical views on rising circulation of comics and novels in against magazine popularity.

Challenges to Global Magazine Publishing Market

The challenge still remains the availability of reading materials for both commercial and lifestyle purpose on mobiles and internet for information and news apps are crowding the market. But, those dedicated to getting their hands on hardcopies for details are purchasing more magazines than ever before. As per the Market Research and Analysis in 2014-2018, Venezuela, Argentina and Peru will roll ahead with CAGR 6.8%, while Hungary and Turkey will toll at 5.3% CAGR in trade print magazines.

Techniques to Retain Audience

Where print advertising is declining in revenue, the internet advertising will tower in 2018 at US$12.4 billion, which is spreading wings in magazines’ sector, according to the Magazine Publishing IndustryAnalysis. The publishing industry is relying on rooting subscription services on transforming the scenario, which will provide gross incomes, but decline the revenue by few percentages. However, this method will create stronghold in the market as readers will be faithful towards a particular consumer magazine when subscribing for a long period to an asset.

National steel policy will significantly transform the fate of Iron and Steel industry

Contribution of the iron and steel industry has always been considered as a symbol of economic growth, till date this industry has played pivotal role in the infrastructure and fundamental amenities contributed towards humongous economic progress. Market survey has shown that we had produced 66.8 million tonnes from 2010 to 2011, whereas China, manufactured 626.7 million tonnes. Data collected on the basis of evaluation of steel market brought to the notice that we use nearly at 50 kg of steel every year, this is really a poor picture compared to the world’s average consumption which is approximately 200 kg every year and developed world’s per year utilization of steel is 350 kg per person.The National Steel Policy which was drafted in the year of 2005 eyes on speeding up the process of total steel production in the country to 110 million tonnes between 2019 to 20 from 38 million tonnes.

Iron market has spurred an annual growth by approximately 7.3 percent. This industry is gradually marking its foot print in this field very firmly; total outcome in the year of 2010 was nearly 66.8 million tonnes. Many companies have accepted brownfield expansion projects that have also given small setback. To understand this growth in more simple tone, per head use of steel denotes the technological up gradation of a nation. Everyone is now aware about a fact that India owes one of the richest stocks of all the crude materials which is necessary to establish any industry viz. land, capital, marginal labour, iron ore, power, coal etc. All these elements are available in plenty.  But still we rank 5th globally for the manufacturing of steel.

Internet of things are essential set new benchmark worldwide

Use of internet depends on the choice of your industry. But experts are of the opinion that manufacturing or production industry is still the outmost ahead if we apply a parameter of Internet of Things, logic is very simple. This industry is concerned with presenting the audience all the utility based products in the form of tools which helps to organize many tasks, followed by machines and other devices. Farmers are also becoming tech savvy because they have realized essence of technology. As a result they have installed sensors in the field to supervise the progress of crops and cattle by sustaining the hopes acquiring substantial yield efficiency and to keep updates about their herds.

There are infinite examples and all we can anticipate in the interest of technology is absolute part of most businesses and trades that are linked up with the help of electronic devices, it is as same as a relationship between computers and the web-sites. When tools are given superlative ability to deliver optimum performance it becomes quite easy to admire the advantages but when it comes to office employees who are being exploited for maximum output, it could be altogether different. Just visualize about your security access card being used to trace your location, so your boss can retrieve data about how much time you are investing to prepare tea. A decade from now, everything would be based on extension of technology in the form of application to make life more meaningful.

Global Make-Up Market Will Continue To Make Its Grip Firm in The Future

When it comes to portray self image with elegance women do not want to make any compromise. Make-up plays very crucial role to shape one’s personality. Today, do it yourself trend is setting up so fast in the Global make-up market that it has compelled marketers to focus on sensibility factor and to make these products economical. It has become need of an hour to offer affordable wide range of personal care accessories and products. There are multiple categories of the make-up segment and large preference is always given to products which carry natural ingredients and leading brands are struggling to sustain in the neck and neck competition. This has resulted into ample benefits for women customers worldwide.

Thus to make available such products across the globe to make women more comfortable and give them pleasing experience is becoming a tough task but at the same time it is bragging good attention and demand. Due to advancement in technology and science make-up kit users expect products that are more reliable, allergy free and efficient. Most importantly all these accessories and commodities shall be user friendly. It is very interesting to know that blemish balm creams are drawing mega attention because they make your skin glow evenly. Therefore compact kits of make-up which comprise everything essential to make-up your face indeed include blemish balms. Market research report has earnestly stressed that international market of make-up scored USD 55 billion in the year of 2012. In the Asia and western Europe region this personal care industry is moving ahead with fifty percent of share in the market and it is very near to America’s growth.

E-learning Package Attracts more Students Worldwide

E-learning is defined as an education conducted with the help of electronic media especially the internet. Those students who are unable to attend lectures by being physically present in the class are provided an opportunity to learn via online virtual classroom. This trend is becoming popular globally and receiving huge response from every stream in the society. Because this method offers great convenience to the large population and you choose to learn any desirable course, thus E-learning package content comprises syllabus that is solely designed in altogether different way so that you may grasp depending on your ability.

Infinite market research reports have been scrutinized to arrive at particular conclusion by assessing the overall growth of e-learning education system over a period of time since it’s inception. There are few interesting statistics that are made recently available for those who are active in this field and eager to know such updates on regular basis. Global e-learning market is actually predicted to make a business of $107 billion till the year of 2015. In the year of 2010  self-eLearning market managed to score $32.1 billion in terms of revenue.

It is definitely good to know that India ranks first because it progressed in the area of e-learning system by almost 55% followed by other giants like China who showed the development by 52 percent and then on 3rd position there is Malaysia, this country has successfully achieved a target to spread awareness about e learning and successfully marked progress by 41% and countries like Romania,  Indonesia, Poland, Brazil, Indonesia, Columbia, Ukraine etc. have made similar progress and are very successful to impart e-learning system to provide comfort, convenience and accessibility to the needy people. Hence it is becoming fastest growing education model across the globe because of its exciting features and all generations can obtain benefits from the same resources. 

Market Analysis clearly shows international trend will see positive shift from crude oil to LNG

Market Analysis report grabbed attention at globally hiked requirement of natural gas has already increased by 2.7 percent per annum from the year of 2000; on the contrary demand for LNG worldwide has risen by an approximately 7.6 percent every year during the same period, almost three times faster. It has been speculated that demand for natural gas will continue to increase in the international market in the future. In the latest, Liquefied Natural Gas (LNG) is being recognized as an environmentally safe and one of the best resources classified as the clean fuel it will make tremendous impact on automotive industry across major global economies. 

As far as Vehicle Grade LNG Market is concerned, owners are gradually inclining towards LNG fueled vehicles. Most common causes behind this international shift from conventional fuel to LNG is this fuel proves to be cost-effective thus regarded as easy on wallet and creates low emissions therefore it is also acknowledged as environment friendly or eco-friendly.As a result of which many countries are promoting and encouraging buyers to go for LNG rather than being dependent on crude oil.We shall also take into account few practical aspects such as availability of poor infrastructure to complement this trend across the globe. But both the aspects are interrelated.

Buyers are reluctant to shift to LNG just because of this major drawback however LNG stations and companies claim that because of inadequate response till date we are unable to provide service in expected number. Today, North America and Asia-Pacific have initiated use of LNG fueled vehicles, especially the United States and China. 

Mobile Printing Will Give New Impetus to the Global Market

Technology progresses along with global trends.  Sole purpose behind reaching the technology to the end consumer is to translate their life into better experience. As far as mobile printing market is concerned; it is being spread widely and receiving warm welcome and appreciation from all social strata especially world business community. It is also going to decide fate of paper industry in near future. Unless and until we don’t find reliable alternative for paper it is going to thrive in the years to come but to the extent, the world will witness decline in its usage too.  Experts are eager to take into account combined future of cloud computing and mobile printing on the basis of their characteristics, feasibility, and advantages. But both technologies are poles apart.

Cloud computing requires different infrastructure and has totally different demands to be accomplished whereas mobile printing is just about reducing your extra efforts that you usually invest in the entire printing process may it be office work, public work, private, personal or group activity. Nonetheless, it will be wise statement to make that it will disappear from global platform despite its caliber to adjust and get adapted to the changing orientation of overall technology world-wide.  If tomorrow, world aspire to establish paper free communication in every industry then there will be certainly no use of files and folders to store papers, documents, sheets etc. Market analysis highlighted some prominent features of mobile printing and did bring to our notice that it has long way to go and as of now there is no threat of extinction.  

Travel & Tourism is a strong pillar in global luxury hotel’s market

Travel and tourism sector had gained momentum in the year of 2014 consequently it also had positive impact on hotel business. Due to ease of connectivity tourist across the globe can easily go from one place to another. Not all of them are in search of cheap accommodation. There are few people who have different taste. They just expect excellent service and mouth watering cuisines. These tourists are ready to empty their wallet but don’t want to any compromise with luxury. The global luxury hotels are ultimately their sole preference. These tourist don’t want anything less than excelsior.

The global luxury hotel market is growing at unprecedented speed in the consumer retail category. Today span of five stars hotels is not limited to providing amenities like Jacuzzi, swimming pool, spa etc. this industry has gone beyond such concepts associated with five star rating. Art room for connoisseurs, business centers, convention halls and banquet halls have also become a part of their service. Dubai, India and China drives mega market with rapidly emerging tourism and corporate avenues. Yester year’s report of travel and tourism say’s after taking analyzing performance of almost forty countries in the world America was on top in global luxury hotel market and fulfilled both the criteria viz. revenue and total establishments.

Although these are ubiquitous standards therefore international travelers have different expectations from them, may it be about room service, dining facility or concierge service, integrated amenities etc. Over a period of time Global luxury hotel market has widened its scope and application. Hospitality industry is all about niche service. It largely relies on customer satisfaction.