Market Research delivers the answers to many questions: what do our suppliers and customers think and see, do they have a budget and more
Aligning Price with Market Demand This is about the difficult task of maximizing revenue by setting prices, whereby a price is not only a number, it is the sum of the price itself, how it is sold and its properties. A business must avoid over-charging, which drives customers to competitors, and under-charging, which leaves money … Read more
From 12 €/kg to 22 €/kg on the grocery shelf in less than one year I have clients requesting why raw coffee is so expensive compared to four years ago, when people were at home and drank coffee all the time. A closer look at pricing in the coffee market tells why coffee climbs from … Read more
If a customer walks out of your store without buying, looking at the security camera footage won’t tell you why. You can analyze the video (Data) all day, but you will never know if they left because the price was too high, or because the music was too loud. To find out, you have to … Read more
Until Summer 2024 I offered creating simple business plans for startups. I did that on my website and on Fiverr for about 120 € each. I stopped that for the lack of orders and a lot of weird questions regarding my gig which never ended in a purchase. The prospects were obviously looking for excuses … Read more
Going into price negotiations without a lot of preliminary information mostly ends up in suboptimal results. This post is about structuring in the information in a decision tree stuffed with probabilities for the events. These probabilities are the result of market research. The party with the most information has advantages in negotiations. They know the … Read more
Asked for predictions and future trends, younger people and elders forecast a different future. The judgement is based on past experiences, where the elders had a longer time to watch. Now there is research which uses stock market predictions and inflation expectation taken from surveys to measure different estimations of future values in age groups. … Read more
Why we need a buyers persona A buyers persona is a picture of our targeted group. It says persona for the reason we do not need to know everything about that person and there might be different persons in our target group. The second part is about qualitative market research. We use this kind of … Read more
Pricing affects everybody. Selling your apartment, selling used furniture, doing salary negotiations or finding prices for your products. How to find a price liked by the seller and buyer? In my seller history I found situations with low prices where the customer voluntarely added a gift, and many situations where nobody wanted to buy. The … Read more
Total addressable market analysis – what does it mean for your plans To predict the number of future customers we use Total Addressable and Acessible Market analysis, TAM. The technical term TAM refers to the number of possible customers and the number of products that they will buy as a whole. This is the full … Read more
Bitcoin is a freely tradable cryptocurrency. A currency needs security against unauthorized copying. With normal money this is done by the central bank and the state, with bitcoins with strong encryption and a publicly accessible database with 262 gigabytes of data in May 2020. There is a maximum of 21 million Bitcoin to be scraped. … Read more
