Marketing Research
Properly conducted market research provides a high chance that the developed application will be in demand by users, and the business will develop more predictably.
Marketing analysis allows you to understand what a mobile application should be like in order to be accepted by the target audience. At the same time, the necessary information is obtained even before development begins - this reduces the time of product creation and ensures that there are no major changes after the release. ;Compulsory analysis of competitors will help to avoid common mistakes, and will also show the strengths of other applications that can be used in your work.
An important role is played by the study of monetization of the project. For a sustainable business model, it is important to know in advance how and how the application will earn money.Research will help to understand how much money potential users are willing to spend on the product and how best to arrange this process.
In essence, market research is the collection and analysis of an array of statistical data. The most valuable part of the study is the conclusions. If they turn out to be unreliable or inaccurate, then the further promotion of the business plan will go down the wrong path. However, if the development of the organization's marketing strategy was carried out in accordance with all the rules, then this will allow the enterprise:
- to find out the needs of the target audience;
- increase promotion efficiency;
- assess market prospects;
- identify the advantages and disadvantages of similar applications;
- develop a marketing plan to counter competitors.
In addition to the situation with the development of a new application, marketing research is often required when adjusting pricing policy, determining promotion methods and channels, rebranding and identifying ways to stimulate demand.
Stages of marketing research
As a rule, marketing promotion includes the following main steps:
- Analyze the state of the market.
- Get size, structure, and capacity data.
- The main competing players and their market shares are determined.
- Forecasts are made for the further development of a particular segment.
- Studying the needs and characteristics of the main clientele through surveys, questionnaires and other methods.
- Statistical analysis of the obtained data — mean values, frequencies and correlation coefficients are calculated.
- Drawing conclusions and recommendations for further development of the application.
Conclusion
Marketing strategy analysis cannot always be done in-house. Appomart, thanks to its extensive experience working with startups, knows about all the pitfalls that can be encountered when collecting and analyzing market information. The received actual data and reliable conclusions are used in the further development of applications and web services. The marketing plan guarantees the demand for the final product from the end user.
