Market Research is the process of systematically gathering, recording and analyzing data and information about customers, competitors and the market. Uses of market research include to help create a business plan, launch a new product or service, fine tune existing products and services, and expand into new markets. Market research can be used to determine which portion of the population will purchase a product/service, based on variables like age, gender, location and income level.
A Market analysis is a documented investigation of a Market that is used to inform a firms planning activities particularly around decision of: inventory, purchase, work force expansion/ contraction, facility expansion, purchases of capital equipment, promotional activities, and many other aspects of a company.
We at LnCo first study the market scenario and then do research & analysis on industry of clients business in depth to recommend ways of improvement and diversification.
L&Co's service can deliver procedures, manuals and training programmers, reinforce the corporate view of the way things should be done, improve communication and awareness of the control environment, and highlight non standard practices, ensuring a sharper focus on internal control.