Market research service in Turkey is an excellent way to determine market dynamics in Turkey, including market size, trends, conditions and competition. The service provides crucial information before joining the market, developing a strategy, or agreeing on local investments.
The Turkish market is an attractive market for selling products, services, and locally produced goods with 83 million residents, a customs union with the European Union and closeness to Western Europe. So, the best way to understand the Turkish market and gain knowledge about market conditions is through market research. Market research services in Turkey are ready to help you by developing a strategy based on a thorough analysis of your customers and the broader marketplace to conduct a market survey.
ERAI Turkey, as an umbrella company, is one of the firms that provide market research services in Turkey. With the help of specialists and professionals, ERAI Turkey conducts a comprehensive market survey with the right strategies and methodologies. If you want to be informed about Turkey’s market research data and solutions, you can visit ERAI Turkey.
This article will look at market research services in Turkey in perspective. The report includes the following topics:
- What is a Market Research Service?
- The Types of Market Research
- The Scope of Market Research Services in Turkey
- What Are the Benefits of Market Research Service in Turkey?
- The Cost of Market Research Service in Turkey
What is a Market Research Service?
Market research is described as determining the viability of a new product or service by conducting direct customer research. This strategy enables organizations or businesses to identify their target market, gather comments and other input from customers about their interest in a product or service.
Market research can be carried out by organizations, enterprises and services with experience. Market research services provide in-depth analysis and reporting on a wide range of markets. These services also conduct market research in order to supply organizations with customized marketing information and fresh insights for their marketing initiatives. Reports, infographics, and other outputs are used to display insights.
Market research services may help businesses develop competitive knowledge, obtain relevant market research reports, and gain a basic overview of their market by utilizing their experience. So, it is the best way for your businesses to work with a market research service before entering a new or foreign market.
The Types of Market Research
Depending on what you want to know, you can conduct various types of market research to obtain the best insights. The following are some of the most popular forms of market research activities:
- Primary Research
Primary research is the data that the company has obtained directly or that has been collected by a person or organization engaged in doing the survey. There are two types of information in this category: exploratory and specific research. Exploratory research is a less structured approach that relies on more open-ended questions to generate concerns or issues the firm may need to address. Detailed research identifies solutions to previously identified concerns that are frequently raised during exploratory research.
The primary research includes two types of methodological data collection that are:
- Qualitative research: In a qualitative market research study, data is collected in a semi-structured or unstructured format using the most prevalent qualitative research methods, such as one-to-one interviews, focus groups and ethnographic research.
- Quantitative research: This method employs objective measurements and numerical analysis of data gathered through a survey, poll, and questionnaire research methodologies.
The data is gathered through some of the most standard primary research methodologies, such as:
- Face-to-face interviews: The method involves having a two-way dialogue about research subjects between an interviewer and another participant. The interviewer frequently initiates a conversation by asking a number of open-ended questions.
- Focus groups: Focus groups bring together a sample of individuals representing your target market. A key researcher or interviewer leads a discussion in which questions regarding a product or service are asked.
- Surveys: A survey is a collection of open-ended and closed-ended questions compiled and sent to a participant digitally, either via email or using survey software that automatically collects responses. Survey questions come in various formats, and choosing the proper one for your aims is critical.
- Secondary Research
Secondary research is the usage of data previously collected, analyzed, and published by an outside party. For market research, here’s an example:
- Desktop research: This could be data from government statistics, think tanks, or research institutes freely available in the public domain. It may also include paid research from research publications, educational institutions, and commercial sources, such as newspapers.
- Market size
- Structure of the market
- Shares of the market
- Turkey’s sales and distribution channels
- Turkey’s trends and developments
- Key players (customers, competition and other stakeholders)
- Location analysis
- Structure of costs
Any company, individual, or organization can use market research services in Turkey to assist them in making better, more informed decisions. The more research a company incorporates into its strategic goals, the better equipped it will be to deal with the ever-changing environment in which it operates. The following is a list of the primary benefits of market research service in Turkey:
- Focusing on customer needs
Market research services keep you alert to where you can improve your concept, customer service, or product offering via online panels, telephone surveys, depth interviews, web communities and focus groups.
- Helping companies strengthen their position
Market research services in Turkey can help you obtain a better understanding of your market or target audience and keep your company ahead of the competition.
- Identifying potential problems
Market research services use both primary and secondary research to protect against not only visible but also hidden threats on the road ahead.
- Minimizing risks
Market research services can provide you with all of the information you need to decide whether or not to take action on a specific subject. For instance, you may discover that the place where you hoped to start a shop already has a flooded market in your line of business, prompting you to reconsider your decision and seek out a more suitable site.
- Measuring reputation
It can be helpful for companies to know how they measure against their competitors. Market research services determine where your company are and then allow you to modify perceptions based on the findings.
Market research services can predict how well a new product or service will sell, as well as the amount of advertising that will be required to reach maximum profitability.
The Cost of Market Research Service in Turkey
The cost of a market research service in Turkey varies according to several factors such as the research method utilized face-to-face interviews, phone interviews, etc.) and the sample size required. Higher companies will usually demand a larger sample size. Considering these differences, the prices of market research services diversify based on businesses needs and demand.
As a consequence, market research services in Turkey are ready to assist you in understanding the Turkish market dynamics and developing a proper strategy for your businesses. As one of the companies that provide market research services in Turkey, ERAI Turkey will manage to provide your company with the necessary research services and promote your business via detailed analysis. To get more information about market research services in Turkey, you can contact ERAI Turkey.