TTO will conduct wide perspective market research for the products you produce and the products you want to import or export to ensure best prices to you and increase your profit.
The goal of doing market research is to equip yourself with the information you need to make informed business decisions about start-up, innovation, growth and the 4 P's:
— Improve your product or service based on findings about what your customers really want and need. Focus on things like function, appearance and customer service or warranties.
— Set a price based on popular profit margins, competitors' prices, financing options or the price a customer is willing to pay.
— Decide where to set up and how to distribute a product. Compare the characteristics of different locations and the value of points of sale (retail, wholesale, online).
— Figure out how to best reach particular market segments (teens, families, students, professionals, etc.) in areas of advertising and publicity, social media, and branding.
Part of being prepared with market research is avoiding unpleasant surprises. Intuition and experience can be helpful at times, but research and facts often paint a more accurate picture of your market.
By conducting research on a regular basis, you can keep up with the dynamics of the economy and demography. You can also adjust to new regulations and technological breakthrough. (Taken from Canada CIC website)