What to Find in Market Research Data & Report for Business Growth?
27 June 2018

Market research is an
integral part of import-export business and related strategic plans. It
consists of fact findings, statistical information, data analysis and
forecasts. All these are crucial in having a wider & clear picture of what
kinds of new products and services may bring a profit. These are also important
for knowing and understanding needs of customers, how to best market of
products and configure the potential growth of business. For international
trade company, getting business intelligence information about their product,
competitors, market, etc. from a leading market research agency is important to
reach new level of success.
>> Check Buyers & Suppliers List, Global Trade Data and Market Trends
What kind of information
does a market research agency provides? Let’s list down them below:
1. Identify Target Market
Promotion helps you to reach
your target market, but first you must know who they are. Gather statistical
information regarding target markets, market segments, demand-supply chain of a
product, etc. from import export data provider. For example, if you want to
export crude oil from Saudi Arabia to India, you must know who will be your
potential crude oil buyers in India.
You can get this information from shipment records that are provided by market
research agency.
2. Understand the Level of Competition
Market research data sources
collect data of various companies around the globe with their shipment details.
So, if you want to know who all are your competitors and what is the level of
competition in the market, you must get this market research data as it gives
you complete customs-based details. It covers both importer and exporter
details, HS Code, product description, value, quantity, foreign country, etc.
3. Develop a Pricing Strategy Grounded in
Market Research
Market research reports also
give deep analysis of pricing of a product in countries. This will help you in
developing a pricing strategy and profit margin. Many industries have profit
margin standards, which are easily available with market research companies as
profit margin is a very helpful measure when looking at other companies in your
industry.
4. Research Similar Products
Business intelligence
information of a market also gives you details of products that are mostly
demanded in a country, in which you are already trading into. For example, if
you are supplying rice from India into China, you can think of to export
another product, which is mostly demanded in China and similar to the industry.
It is cotton that you can supply from India into China. As market research
reports provide industry-wise data as well, so you can get into other potential
industry as well for business growth and profit.
5. Locate the Best Country to Import or
Export Product
Reliable market research
data collection companies provide country-wise import export data. For example,
if you want to export diamonds from India, you must know that this country
supplies diamonds mostly to Hong Kong, China and the United States of America.
So, from USA import data of
diamonds, you can analyse its market and find potential buyers of diamonds in
the US.
Which Market Research Option is Suitable for Import-Export Business?
There are many online data
sources in market research, but Export
Genius is the best and a reliable market research agency that provides 100%
authentic import export data with actual shipment records. It gives
customs-based details of 60+ countries and market research & data analytics
reports of 20+ countries as per product specifications like brand, model, type,
category, variety, etc. Check the sample below to know how this company
provides import-export global trade data.
Date |
13-11-2017 |
HS Code |
10064000 |
Product Description |
Indian white
rice 100% broken packed in 50 kg pp bags |
Indonesian Importer Name with Address |
**Available on
Purchase Only |
Foreign Exporter Name with Address |
**Available on
Purchase Only |
Quantity |
260 |
Unit |
MTS |
Value |
82457.75 |
Foreign Country |
India |
To buy our market research
report and data, e-mail us at info@exportgenius.in.
For any media related enquiries, please contact us at press@exportgenius.in.
