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Marketing feasibility for your brand

Companies are often prepared to invest millions of dollars in purchasing technology, hiring and training personnel and organizing distribution for a new brand without any thought to the most important element – a market feasibility study for the project. As a result, the investor can end up with a shiny new shopping center that remains empty, products collecting dust on store shelves and dealers and distributors who are not willing to promote the new brand.

A market feasibility study targeted at minimizing marketing risks involves an objective marketing study to evaluate the market potential and find a niche for a new branded product. The study also includes developing a set of marketing tools to establish and position the new brand and help it reach projected sales volumes.

Unfortunately, advertising and branding agencies tend to skip over this phase or provide superficial information without performing any serious marketing studies, and the creative ideas they present to investors frequently lack any real grounding in the market. By commissioning a market feasibility study for your brand, you gain an independent look at the market situation and your clients’ needs.

When is a market feasibility study appropriate?
What do you receive at the end of the project?
How does a market feasibility study work?
How long does a market feasibility study take?
 
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