Market Assessment

Market assessment or market research is a detailed and objective evaluation of the potential of a new product, new business idea, or new investment. It is a comprehensive analysis of environmental forces, market trends, entry barriers, competition, risks, opportunities, and the company’s resources and constraints.

The goal of any market assessment exercise is to find the point where supply and demand intersect to supply the right quantity of a good at the right price. Typically, market research studies will assess the potential return on the investment, absorption, and market capture rates, and the project’s timing.

Market assessment or market research involves the following:

• Defining the project description: It would involve describing the potential project or product idea, defining the industry in which the project or product is going to be launched, listing the limitations of the study, assessing indirect economic factors, defining the geographical boundaries in which the project is expected to be launched.
• Demand assessment: Market demand can be assessed by understanding the market trends for similar projects in that area, undertaking market research for relative prices, taxes, existing demand for the project, studying traffic of the cargo in that region if it is a project for setting up some infrastructure facility or service project. Hinterland analysis, a primary survey of potential customers understanding the need for the demand for the service or project, competitor analysis, tariff analysis, logistics cost analysis, etc.
• Review of supply: Studying existing supply and identifying planned supply, understanding the availability of land. For infrastructure projects or projects servicing cargo movements, it will be identifying similar facilities in the region having comparable features, traffic projections & tariff determination for the movement of goods, an assessment of Origin-Destination pairs, commodities analysis, and volumes being handled, etc.
• A synthesis: From the study of demand and supply above, we strive to answer questions like:
  1. What are the indirect economic constraints?
  2. What is the size of the future market and what percentage of the overall market can be attracted to the proposed project?
  3. What is the market-determined price range?
  4. What type of project or service is justified by market demand?
  5. What amenities should be provided?

We undertake market research for small businesses, large corporates, perform b2b market research as well as b2c market research. We have significant experience in conducting market research or performing market assessments, undertaking market analysis and market research, secondary market research, online market research, individually as well as being a part of feasibility studies and detailed project reports.