In the market research process, through a meticulous understanding of the under consideration industry, product, and organization, first a general definition of the principal subject is presented. Understanding the topic can be the initial step in the transparency of the implementation process.By defining the problem the processes of identifying and describing the goals begin and the main and subordinate goals are identified and separated in coordination with the organization. By recognizing the objectives of the market research team using specialized tools tailored to the project elements, it collects data from multiple sources. The data collection phase is recognized as one of the most important steps in the market research process that starts after specifying the format used in market research and the data must be integrated as the valuable information using the experience and expertise of the research team along with the quantitative and qualitative tools at the end of this activity in order to be referred as the basis for the final report. The final statement will be generated based on the analytical information, project’s initial definitions, intended goals, using multiple charts and graphs.
The results of this process can contribute the management of the organization a very favorable and clear view of the industry and surrounding conditions of the industry and will be very effective in making critical decisions that have a direct impact on the revenue and future of the organization.
Successful example of the Service accomplished by Fara Company:
Considering the importance of the market recognition for business development, Razi Vaccine and Serum Research Institute decided to involve Fara Company to develop its activities in potential markets and to gain a detailed understanding of market performance and dimensions, in order to accurately evaluate the human and animals’ vaccine market. In this project, Fara Company has carefully analyzed and studied all types of human, livestock, poultry, aquaculture, pets, horses, etc. vaccines. Furthermore, a wide range of products in the field of vaccine producing technologies, worldwide and targeted markets have been investigated by Fara Company. The results of these studies presented to the client organization in more than five pages with comprehensive details.