How to Gain Market Insight in Indonesia
Are you on the right track in finding a way to expand your business in Indonesia?
Market research is analogous to a map or traffic sign that can direct drivers who want to travel from one city to another. As said by Burns (1994), research is a systematic investigation to find answers to a problem. One of them is you can get maps or signs to find out which direction you need to go, when you have to slow down and when you have to turn.
Similar to this, market research can help you determine the direction of the company you are starting and it is vital to your company’s long-term success, whether you are looking to drive profitable growth, enter a new market, or sustain your competitive advantage over time.
At BRIGHT Indonesia, we always carry out comprehensive market research and unique value of high-quality industry research in today’s shifting global economy to provide the best solution for our clients. We use three methods for creating better business insight, site location findings and partnership search on the Indonesian market.
Desk research
Desk research will be used to evaluate the market and find detailed industry information. This research can be completed within a few weeks depending on the objective of businesses or the scale of data needed.
In conducting desk research, as much as possible general information about the characteristics of the market in Indonesia is obtained. The broad personal network of the BI leadership council will be utilized to get in-depth knowledge of the client’s industry and general aspects of their products in Indonesia.
In-depth interview
In-depth interviews with the industry experts, customers and the competitors are conducted by both consultants and Indonesian support staff to gain information about the industry in Indonesia. This will include around 10 to 20 interviews with key players in the market: sector related companies, (industrial) users, retailer’s distributors and customers, and other key players.
In-depth interviews are also particularly effective when the goal is to capture sensitive feedback. This offers an advantage over self-completion methods, such as surveys, because the respondent is more likely to give their full attention and the interviewer can deduce the quality of each response.
On-site observation
On-site observation is a qualitative research technique where researchers observe participants’ ongoing behavior in a natural situation. Mystery interviewers are one of our methods in this observation technique.
The purpose of this type of observation technique is to gather more reliable insights. In other words, researchers can capture data on what participants do as opposed to their verbal argumentation to ensure the behavior is parallel with the speech.
At the end of these 3 methods, you will undoubtedly have developed yourself to understand your market and will be better able to make the right decisions for your company. In conclusion, if there was only one rule to choose and do this research, it would be to use common sense.
BRIGHT Indonesia for brighter chance
Market Insight is one of the best ways to start or expand a business. Looking for a local partner who understands the conditions and situation of the local area is also an added value.
BRIGHT Indonesia can help you in doing this with our Market Insight Research service. We will provide an in-depth market insight report by qualitative and quantitative measures, in which it is a specific tailor-made study insight into particular sectors/products where we can conduct the type market entry research regarding our clients request. Besides being a professional, BRIGHT Indonesia is a delightful company and never lets you down. For more information, email to info@brightindonesia.net.
