The thoroughness of the analysis and the number of factors taken into account are also important. Carrying out a thorough market analysis in-house is time-consuming and labor-intensive, so it is worth using the help of a consultancy whose team can complete the market study in less time.
How much does a market analysis cost?
Just as the timeliness of a market analysis depends on a number of factors, so does its cost. To properly prepare a valuation, it is important to consider the three most important aspects that affect the scope of the analysis, namely: the number of factors to be studied, the market chosen and the method of analysis.
However, the final cost of market analysis will depend on details such as the availability of market data, the emergence of the need for primary research, the size of the research group, the detail of information the client wishes to receive, and which elements of the analysis are most important to the client. The cost of a comprehensive analysis carried out by a consultancy can range from several to tens of thousands of zlotys, depending, among other things, on the above-mentioned aspects of the study.
Gain an edge over your competitors
Whether you want to start a new business or grow it, market analysis allows you to build a powerful knowledge base, which in turn will translate into greater freedom in running your company, which will clearly increase your chances in the industry. In addition, a well-developed market analysis positively influences the company's revenue dynamics, optimizes costs and gives you the opportunity to identify market opportunities and niches. It allows you to better understand the wants and needs of consumers and even develop certain competitive advantages.
The more reliable you are in using your tools, the more advantage you will have over your competitors. Don't let others get ahead of you. Try them out and outperform your rivals