As mentioned in earlier articles, the market research task was not easy in some of the developed markets where I worked. Often, I was faced with minimal and outdated information. In this article, I will introduce the first market research approach we used in those markets which I call: The in-house stage.
As the name implies, the research was based on internally developed methodology. The regular approach of systematic gathering and interpretation of information by using statistical and analytical methods and techniques reflected how our company understands the market.
Because of our belief that mobile telecom was a necessity in those markets we did not need detailed researches. We often relied on the outdated information and updated it while benchmarking the information on the nearest market where information existed.
Economically, we needed to gather minimal information to estimate the potential of our target customers. A This was probably the easiest task, as details were not really needed and a general idea was sufficient to let the shareholders decide whether to invest in this market or not.
Geographical information was also needed. Detailed mapping was needed to decide where and how to place our towers, microwaves, and antennas to ensure adequate coverage. Although a harder task than the economical research, we were able to conclude it with field visits.
Demographic information was the hardest to get as there were no updated data. We often operated in developing countries that suffered from civil wars causing major population dislocation turning some heavily populated areas to practically a no man’s land.
The reliability of the minimal information we collected was dependent on the knowledge and the knowhow of the people who were on the field. In most cases that information did not affect us negatively and we succeeded in most of the … Read the rest