Marketing
MARKET ANALYSIS
Industry Analysis
This allows you to understand the size and market share potential within your industry/category.
Competitive Analysis
Knowing where your product stands versus your competition is critical. Socio will supply you with competitors’ products and quality comparisons and make recommendations to aid you in determining price levels, packaging, and distribution.
Opportunity Identification
Socio will keep you notified of trends and growth opportunities which can translate to sales market penetration.
Financial Analysis
Socio will provide you with accurate and realistic sales forecasts, as well as profitability projections and budgets.
PRODUCT DEVELOPMENT
Concept Development
Socio will assist in the creation or design of a new concept to offer you savings in time and development expenses.
Product Development
Socio will identify the most effective way to custom tailor your product for the intended market of distribution. The most adaptable product is readily recognized and accepted by the target audience leading to penetration and growth in your market space.
Concept and Product Testing
Focus group testing and in-store sampling are a couple of examples of pre-launch product testing. This will be an effective barometer of the consumer’s reaction when your line is introduced for sale.
MARKET RESEARCH
Primary Research
Socio will gather critical feedback from their sales team and key buyers in the trade. The benefit of this research is that there will be time to make any necessary adjustments before product release.
Secondary Research
Socio will provide precise and detailed information pertaining to the market and your customers, what drives them to buy and in turn, what drives their customers to purchase a product.