In most of the off-the-shelf syndicated reports we prepare, we follow a very similar approach in terms of the methodology we use to compile, cross-check, verify and confirm our findings. This particular approach is something our team has worked on for many years and that has proven its value over and over again in different projects around the world. The approach also allows for a number of modifications, which makes it feasible for other projects of ours, where the specific research focus has to be put on different variables. The approach is shortly described below. A full methodology is available in each of the reports we sell and for each of the projects we work on. The approach we use is proprietary and combines quantitative and qualitative analysis. It is made up of 6 main steps, as follows:
- Analysis of official statistical information;
- Analysis of information, received from the main market participants;
- Analysis of secondary information from official sources;
- Semi structured interviews with market experts;
- Semi structured interviews with corporate clients of the market;
- WMStrategy’s own methodology.
Analysis of official statistical information
Our approach includes analysis of official statistical information from different public and private sources. The information is used for the interpretation and analysis of data on the volume and dynamics of different quantitative indicators. In the same way, the information is used as basis for building forecasts for the dynamics of the quantitative indicators for the next few years. The exact list of used sources of official information is available in each report we sell.
Analysis of information, received from the main market participants
The collection and analysis of information, received from the main market participants is done mainly to understand their competitive positions on the market, to define and assess how different pricing and promotional strategies are utilized on the market and what competitive advantage each of them gives. This information is also used to analyze the assortment and brand presence on the market. The information, received from the main market participants includes company presentations, annual reports, price lists, promotional materials, proposals, etc.
Analysis of secondary information from official sources
The analysis of secondary information from official sources is used to make the picture of the market complete and full. The data is also used to verify the quantitative analysis and to enrich the qualitative one. Such information includes data from industry portals and publications, trade associations, media agencies, articles and reviews, marketing agencies, commercial databases, WMStrategy’s own research studies, and more.
Semi structured interviews with market experts
Collection and analysis of qualitative information is used to explain different trends, growth drivers, volatility, threats and opportunities of the market. The collection of qualitative information is done through semi structured interviews with market experts. As market experts are considered representatives of the main market participants – manufacturers, distributors, wholesalers, retailers, importers, exporters, unions, professional associations and special publications, whose work is directly related to this particular market on a daily basis. The format of the semi structured interviews allows us not only to cover the main questions we need to ask in order to understand the logic behind the market, but also to get new insights and to allow new ideas and factors to come into the picture. During the semi structured interviews, the market experts are asked about their views on the future of the market, which are taken into consideration while preparing our forecasts for development. The exact list of interviewed experts is available in each report we sell.
Semi structured interviews with corporate clients of the market
Another way of looking into the specific market is through the point of view of the corporate clients. In this phase of the research, we are using semi structured interviews to understand the perspective of the high-volume clients on the market. This allows for unmatched wide and deep industry understanding.
WMStrategy’s own methodology
The own methodology of WMStrategy can be found in every step of preparing our research studies from the methodology through the processes of collecting and analyzing information to drawing conclusions from it.