3b offers a service that will conduct market research for discovering what people want, need, or believe. Once that research is completed, it can be used to determine how to market your product. Some tools for market research that may be used will consist of questionnaires and focus group discussion surveys.
Market Information
Through market information one can know the prices of different products in the market, as well as the supply and demand situation. Information about the markets can be obtained from different sources, varieties and formats, as well as the sources and varieties that have to be obtained to make the business work.
Market Segmentation
Market segmentation is the division of the market or population into subgroups with similar motivations. It is widely used for segmenting on Geographic differences, Personality differences, Demographic differences, Technographic differences, use of product differences, Psychographic differences and gender differences. For business to business segmentation Firmographics is commonly used.
Market Trends
Market trends are the upward or downward movement of a market, during a period of time. The market size is more difficult to estimate if one is starting with something completely new. Besides information about the target market, one also needs information about one’s competitors, customers, products, etc.