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 research to find customers
Through primary research – surveys, interviews and focus groups – you can get exploratory information (the nature of the problem) and conclusive information (how to solve the problem).
Answering the following questions, you can get a good sense of your market:
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?
Use competitive analysis to find a market advantage
Competitive analysis helps you learn from businesses competing for your potential customers. This is key to defining a competitive edge that creates sustainable revenue.
Your competitive 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
Qualitative research is the collection of primary or secondary data that is non- numerical in nature, and therefore hard to measure.
Quantitative research is the collection of primary or secondary data that is numerical in nature, to get historical benchmarking, based on facts and figures evidence done.
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.
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.
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.
A business plan takes typically 4 weeks to complete. In some cases, a business plan can be completed within 2 weeks timeframe as well.
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.
We understand the sensitivities attached with business concept and ideas. We provide full assurance with regards to the confidentiality of the business plan.
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.
Our Founder & Director – Waqas Hassan is based in Dubai since 1992. Prior to setting up Research Konnection, Mr. Waqas worked in senior management roles in Dubai as well as supervised Academic Research for Business Graduates in the region.
Mr. Waqas brings heap of experience 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 Region.
Yes, we can provide references of our past customers whom we have supported in Business Plan, Market Research and Feasibility Study services.
Get started with your business needs, we reach out with free and qualified guidance.