Best Tricks to Fix Budget via Market Research
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Market Research Market research kick-starts with where the venture lacks. Thence, it strategizes market, marketing tricks and budget for possible market solutions.
Where a Start-up Venture Lacks?
Customers
Market Visibility
Brand Awareness
Market Research
Branding
Budget
Where Should The Starter-Ups Look Into?
Market Research
Advertising
Projecting Strategies
How A Starter-Up Determine Budget?
Follow General Rule of Thumb 10% Revenue Expenditure on Marketing
Metrics Required for Market Research Scope of Product Cost of Production How Much to Produce Customers Market Landscape
Research Solutions for Fixing Budget 1.
Top-Level Report a) Expected average cost-$ 100 to $ 1,000 b) Industry’s basic info consisting: c) Industry’s Size
3.
Product detail market report a)
Expected average cost- $ 15,000 to $ 35,000
b)
Company’s detail analysis including:
c)
Performance
d)
Products/ Services’ Specific market trends
e)
Products/ Services’ Specific market value
d) Top players e) Overview of its maturity
2.
Full Market Report a) Expected average cost-$ 1,500 to $ 8,000 b) Industry’s full fledge information including: c) Subcategories d) Metrics e) Market’s current status f) Future forecasting of market g) Prevalent trends
Substitute Market Solutions 1.
Subscription services Benefits: a) Industry specific b) Best suits to individual reports c) Cost-effective d) Fast access to market research report
Drawbacks: e) Limited to individual industry
2.
Custom Research Benefits: a)
Extensive report
b)
Detailed info
c)
Custom market research
d)
Approached for specific needs
Drawbacks: e) Very expensive (approx. $30,000 to $ 50,000)