Back to the list

Factors to Consider While Performing Market Trend Analysis

 The Economist just recently noted, “Bad data and late data can lead to policy errors that cost millions of jobs and trillions of dollars of output.” While the article spoke to the Covid-19 crisis and government policy in the United States, the sentiment extends to other areas as well. How much money has your business lost because you did not conduct market trend analysis?Despite these restrictions, however, if you were to conduct an analysis, you may not be as successful as you thought you might be. Why? 

1.Data is limited in Trinidad and Tobago. A decades-long issue and yet to change. But one must know where to look.

 2.Culture shapes how consumers think. Our culture makes us different and no number can expand on that fact. So, therefore;

 3.It’s not only the numbers but the qualitative data. 

 This isn’t your normal list online, but the work at DMB Research goes outside the box. Even in your industries, there are special factors found nowhere else. Consider these as you go about your market trend analysis. 

 Keywords: strategy, brand, market research, customer, consumer research, business plan, customer service