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Market research helps you find customers for your business. Competitive analysis helps you make your business unique.
Market Research in the UAE, Dubai
Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service.
Use market data to find your niche and market advantage
Accurate Middle East, a renowned business development and marketing company based in the UAE, recognizes the significance of market research in paving the way for successful business ventures. In the dynamic landscape of the UAE, understanding the market nuances and gaining valuable insights is crucial for launching new businesses. Accurate Middle East offers comprehensive market research services tailored to the local market, encompassing both primary and secondary research methodologies. By conducting in-depth studies and analyzing market trends, customer behavior, competition, and market size, they equip businesses with the knowledge needed to make informed decisions and seize growth opportunities in the UAE and across the MENA region.
Market Trends and Size: Uncovering Growth Opportunities
Accurate Middle East analyzes market trends and determines the size and potential of the market. By monitoring industry developments, consumer preferences, and emerging technologies, they identify growth opportunities for businesses. Understanding market size and growth projections empowers businesses to make data-driven decisions and allocate resources effectively.
Primary Market Research: Unveiling Customer Insights
Accurate Middle East specializes in conducting primary market research to gather firsthand information directly from the target audience. Through surveys, interviews, focus groups, and observations, they uncover customer preferences, needs, and perceptions. By exploring customer behavior, attitudes, and purchasing patterns, businesses can gain a deep understanding of their target market, enabling them to develop products and services that resonate with their customers.
Demand: Is there a desire for your product or service?
Market size: How many people would be interested in your offering?
Economic indicators: What is the income range and employment rate?
Location: Where do your customers live and where can your business reach?
Market saturation: How many similar options are already available to consumers?
Pricing: What do potential customers pay for these alternatives?
Competitor Analysis: Gaining a Competitive Edge
Accurate Middle East conducts thorough competitor analysis to identify key players in the market, their strategies, strengths, and weaknesses. By benchmarking against competitors, businesses can develop unique value propositions, differentiate their offerings, and create effective marketing strategies. This analysis ensures businesses stay ahead in a competitive market and capitalize on untapped market segments.
Competitor analysis helps you learn from businesses competing for your potential customers. This is key to defining a competitive edge that creates sustainable revenue.
Your competitor analysis should identify your competition by product line or service and market segment. It also gives you the following topics of the competitive landscape:
- Market share
- Strengths and weaknesses
- Your window of opportunity to enter the market
- The importance of your target market to your competitors
- Any barriers that may hinder you as you enter the market
- Indirect or secondary competitors who may impact your success
Customer Studies and Market Overview: Mapping the Landscape
Accurate Middle East conducts customer studies and market overviews to create a comprehensive picture of the target market. They delve into demographics, psychographics, buying behavior, and purchasing power to segment the market effectively. This research enables businesses to identify target customer segments and tailor their marketing strategies accordingly.
Secondary Market Research: Harnessing Existing Data
Accurate Middle East leverages secondary market research to tap into existing data sources such as industry reports, market studies, government publications, and databases. By analyzing this wealth of information, they provide businesses with valuable insights into market trends, industry dynamics, and competitor analysis. This secondary research acts as a foundation for understanding the market landscape and identifying potential opportunities and challenges.
Free small business data and trends for businesses in the UAE
There are many reliable sources that provide customer and market information at no cost. Free statistics are readily available to help prospective small business owners.
See the examples of market research in our portfolio.
Reach us out to get your free consultation on market research to open or develop business in Dubai, UAE in the most effective way.
Do you have any questions?
FAQ
What is included in the business plan?
Typically, a business plan includes detailed overview of business model, market analysis (based on research), business & marketing strategies and financial plan (cost & revenue projections / profitability). Tentatively, a business plan is 20-35 pages depending on the complexity of the business and takes 4 weeks to complete.
What is the cost of a Business Plan Consultant in Dubai?
The cost of a business plan services in Dubai varies depending on the scope of work, number of consulting hours and nature of fieldwork, in case market research (i.e. survey & interviews with consumers) is required.
How long does it take to prepare a business plan?
A business plan takes typically 4 weeks to complete. In some cases, a business plan can be completed within 2 weeks timeframe as well.
What is a typical process of a Business Plan Consultant in Dubai?
We initiate discussions (Phone / Skype / Email / F2F Meetings) to understand your needs. We review the requirements and prepare a detailed cost proposal, mentioning the scope, deliverables, cost and timeline. Upon agreeing on the proposal and signing the agreement, we begin with setting up the project and commencing with the fieldwork and development of business plan. Once the business plan is ready, we share the draft to take inputs and feedback. We revise and make updates if necessary.
What about non-disclosure and confidentiality of our business ideas and concept?
We understand the sensitivities attached with business concept and ideas. We provide full assurance with regards to the confidentiality of the business plan.
How much do you charge upfront?
Tentatively, we charge between 50% upfront and 50% upon completion. However in some cases, where we need to engage in fieldwork, we charge slightly higher.
What experience do you have of Dubai, UAE & Gulf market?
Our Founder & Director has been working with Arabic countries since 2010. Prior to setting up Accurate Middle East, most of the team worked in senior management roles in Dubai and Middle East as well as supervised Academic Research for Business Graduates in the region.
Founders of the company has more than 20 years of working experience and extensive and knowledge of the Gulf market and is passionate in assisting business owners and companies in setting up or expanding business ventures in Dubai, UAE and the Gulf
Can you provide references of your past customers?
Yes, we can provide references of our past customers whom we have supported in Business Plan, Market Research and Feasibility Study services.
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