Research Methodology

WHAT IS THE TERM

“RESEARCH METHODOLOGY (RM)”?

Research Methodology (RM) is the particular procedure or strategies used to recognize, select, process, and dissect data about a particular market. In a research report, the research methodology portion permits the reader to thoroughly assess the data's overall reliability. The RM segment responds to two primary inquiries: How was the information gathered or created? How was it analyzed?

Benefits You Gain Through Our RM:

  • Develop your business strategies to refine the profits in near term.
  • Grow your business profit ratio through our analytics reports.
  • Acquire the valuable insights on different product, services, and technology along with their obsolescence nature in the foreseen period.
  • Gain an upper hand on competition by having competitive financial, growth and economic data.
  • Identify future threats by our accurate forecasting strategies
  • Obtain Go-To market strategy to increase your chances in the existing markets

How Do We Attain Conclusive Data Through Our Research Methodology?

There is no fruit to all the hard work put to do a research if the data is not conclusive or required. So we prioritize our key skills to gather conclusive and needful data through our RM. Major primary and secondary factors we utilize to obtain this data are listed below.
Gathering Of

Data

The data we gather can be breakdown in the below given points
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I. Data Acquisition

We gather data through various paid databases such as Factiva, Hoovers, Thomson One, among others to analyze the competitive landscape along with their financial information, SME journals, and other industry statistics. This information provides valuable insight and other potential growth opportunities in the market.

After gathering of data we analyze those variables and check for the reliability by considering the following factors

  • Gaining Market Advantage:
    We analyze the current market potential impacting the growth of the business strategies. If we verify our variables to be optimal, we further enhance our studies and evaluate our data according to our client’s needs. This process plays a crucial role for us to identify potential growth opportunities.
  • Market Taxonomy:
    In this process, we analyze and segment the market in the most desirable or possible ways to derive actionable insights, which helps us to come forth with an effective strategy.

II. Foster’s Primary Research Studies and Strategies

We conduct various primary interviews with a medium of telephone, emails, and face-to-face interviews in order to validate the data gathered from secondary sources in each region.

We communicate with people from the marketing team, product development team, R&D team, and business development team. Also, we conducted interviews with C-level Executives including, president, CEO and vice-president of market players, Distribution channel professionals, raw material suppliers & vendors, industry consultants, end users, and other significant intermediaries that help us to gain root level market dynamics and pricing. We also conduct online marketing surveys to study other’s opinions as well.

III . Secondary Source Of Gathering Data

Our secondary data gatherings include public organizations like Non-Profit Organizations (NGOs), World Health Organization (WHO), World Banks, U.S. FDA, PubMed, International &National Social Welfare Institutions, Trade Associations, and numerous others. Additionally, secondary research involves review of key player annual reports, SEC filings, press releases, product literature, investor presentations, white papers, and among others. Data gathered from these sources enable us to map the market of the entire value chain.

Analysis Of Gathered Data:

This process is crucial as its helps us to identify the needful data and narrow down our research study with more granular information. Analysis of data is done through the mentioned key factors-

  • Understanding the historical and futuristic market trends
  • Current market dynamics to determine the actual position of the market
  • Keeping a track of current products, pipeline products in the market and product life-cycle
  • Average selling price (ASP) of the products and factors affecting price changes in the foreseen future
  • Studying different distribution channel to identify the accessibility of the product to the consumers
  • Studying political, economic, social, and technological factors.
  • Keeping track on the technological advancement of market variables
  • Studying customers’ needs and deep study on customer behavior
  • Understanding key developments (such as product launches, merger, acquisition, joint ventures, etc.) to analyze future opportunities or market penetration in different economies
  • Studying regulatory affairs and reimbursement scenario impacting the market
  • Keeping track on previous studies and strategies of the market

Market Analysis:

We conduct deep down study on the past, present and possible future market trends to make our granular data much fruitful. The possible key factors we keep in mind while doing market analysis are-

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Through these we obtain a top to bottom and bottom to top approach in the market.

Validation Of Gathered Data and Conclusive Study

With this, we reach our final step to validate the current findings and come to a conclusive decision.

This process is further broken down into different portions

Understanding the demand chain

The gathered variables are reanalyzed by our analytics team to rectify any error and also gain some new insights through this. After all the insights and stats is collected, we further refine it according to our customer’s needs. Tools relating to data analysis and processing is adopted to enhance the data refinement in large capacities. This procedure add the relevancy of our research results.

Different View Approach

The data is then analyzed with the basis of third-party consultants and analytics personnel to further increase the reliability of the data for the end process.

Publishing Of The Data

After the data is analyzed it finally undergoes one last checkpoint to obtain conclusive, relevant, and accurate data that can be published in the market for the fulfillment of our client’s needs. This is the final data that has reanalyzed and now can be used by the business

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