CHAPTER V: APPLICATION OF MANAGEMENT

FRAMEWORK (MANAGEMENT MODELS AS

APPLICABLE)

5.1 SWOT Analysis

SWOT analysis of Grand view research analyses the brand by its strengths, weaknesses,
opportunities & threats. In Grand view research SWOT Analysis, the strengths and
weaknesses are the internal factors whereas opportunities and threats are the external factors.

SWOT Analysis is a proven management framework which enables a brand like Grand view
research to benchmark its business & performance as compared to the competitors. Grand
view research is one of the leading brands in the market research.

 Strengths:
1. Constant market monitoring
2. Continuous product monitoring
3. Continuous Kol Interviewing
4. Product positioning analysis
5. Partner prospecting
6. Data mining & analytics
7. Opportunity identification
8. Variable mapping

 Weakness:

1. Time Gap Makes Research Irrelevant

2. Cost Consideration
3. Problem of Rapid Change
4. Problem of Trust and Accuracy
 5. It is not Problem Solving Technique but an Aid to Solve the Problem
6. Subjective or Biased Result
 Opportunities:
1. Wide/open market
2. Can give solution to other verticals other than it is offering now

 Threats:
1. Economic Change
2. Competitive Innovation
3. Regulation
4. Consumer Perception
5. Addressing Threats

5.2. STP Analysis

 Segment: Enterprise seeking research data.

Need based: GVR segments its market depending on the need of the customers i.e. the level
of Complexity- How complex research the customer requires. GVR has expert analysts in
every field who can understand the requirements of customers for customization. GVR is
capable of delivering the best solution to the customers which involves lots of research and
expert knowledge.

Type of industry:

 Consumer goods
 Advanced materials
 Semiconductors and electronics
 Healthcare
 Technology
 Specialty and fine chemicals
 Food and beverages
  Bulk chemicals

 Targeting:

Target groups are mostly overseas large and small scale enterprises.

 Positioning:

Grand view research believes in quality and delivers accurate , clear, and informational
content required by the customers on time.

5.3 Marketing Mix

1. Product:

 Market Research Reports

 Market Monitoring Services
 Research Partnership Services
 Competitive Intelligence
 Management Consulting
 Due Diligence
 ESG
 Procurement Consulting

2. Price: The price varies on the license type. But in general, the prices are moderate and
high according to the quality which is delivered to the customer.

3. Place: Grand View Research majorly serves the U.S. and Europe.

4. Promotion: Online promotion, and social media advertising.

Three extended Ps of marketing

5. People: Grand view research has a talented analyst team to create models exactly
according to the customer’s requirements.
6. Process: There is the unique process followed by grand view research for each project
which starts with requirements-gathering followed by assistance by the business
development team for the sale of the report as well as after-sales services.

7. Physical evidence: Website, RDs, Sample reports.

5.4 Porter’s five forces model related to the industry

 Threat of New Entrants:

 The Market Research industry does not have any measures which can control the
entry of new firms.
 The resistance is very low and the structure of the industry is so complex that new
firms can easily enter and also offer tough competition due to cost effectiveness.
Hence potential entry of new firms is highly viable.

 Bargaining Power of Suppliers:

 The bargaining power of the suppliers of raw materials and intermediate goods is not
very high.
 There are ample substitute suppliers available and the raw materials are also readily
available and most of the raw materials are homogeneous.
 There is no monopoly situation on the suppliers’ side because the suppliers are also
competing among themselves.

 Bargaining Power of Buyers:

 The bargaining power of the consumers is very high. This is because in the Market
Research industry the switching costs of most of the services are very low and there is
no threat of buying one over the other.
 Customers are never reluctant to buy and try new things off the shelves.

 Threat of Substitutes:
 There are complex and never-ending consumer needs and no firm can satisfy all sorts
of needs alone. There are plenty of substitute goods available in the market that can
be replaced if consumers are not satisfied with one.
 The wide range of choices and needs give sufficient room for new product
development that can replace existing goods. This leads to higher consumer
expectations

 Rivalry Among Existing Competitors:

 Market research industry does not have any measures which can control the entry of
new firms.
 There are scarce customers because the industry is highly saturated, and the
competitors try to snatch their share of the market.
 Market players use all sorts of tactics and activities from intensive advertisement
campaigns to promote stuff and price wars etc. hence the industry of rivalry is very
high.
5.5 Ansoff Matrix

Ansoff Matrix can be used to identify alternative marketing opportunities of the company or
product, allowing you to expand into new markets.

It can also be used to analyze your competitive position, facilitating the identification of new
product/market opportunities for increasing its market share. Furthermore, it can be used to
assess the degree of diversification within existing markets and which products should be
eliminated.

The Ansoff Matrix is made up of four main categories. They are as follows:

 Product Development

 Market Penetration

 Market Development

 Diversification

Product Development

The product development strategy is designed to improve the sales of existing products by
making them more useful, affordable, or attractive. This strategy involves the development of
new features on a product, improving its quality, or creating brand extensions related to the
original product.

The essence of this strategy is to increase overall sales from existing products. The company
has different range of products that cater to different industries and different aspects of the
business. The range of products such as
  Market Research Reports
 Market Monitoring Services
 Research Partnership Services
 Competitive Intelligence
 Management Consulting
 Due Diligence
 ESG
 Procurement Consulting

All the reports that are prepared and sold by GVR can be customized according to the
requirements of the client and this gives clients with the needed flexibility for the purpose of
decision making related to their business.

Market Penetration

The market penetration strategy is designed to increase sales volume by making more
potential buyers aware of your products. This strategy involves aggressive marketing and
promotion activities such as advertising, public relations, and e-commerce marketing services
such as PPC and SEO.

The idea behind this approach is that your current customers are valuable and that they will
recommend your products to their friends, families, or business partners. For example the
company uses digital marketing of its report on different websites to attract attention of
potential clients. The company has a unique way of displaying preliminary reports and
shorter version of its detailed reports for the purpose of attracting attention and it also helps
in giving the potential client a glimpse of what all topics that will be covered in the detailed
report. All this will help in increasing the sales from its original product line.

Market Development

The market development strategy is designed to enter new markets with the same product.
These new markets may be related, international, or based on different demographics.
This is done by identifying unmet needs in untapped markets where there is room for your
products or services. The company is trying to tap into new and developing markets such as
Middle East and Asia which have high expected growth rate.

Diversification

The diversification strategy is designed to enter new markets by offering completely different

products to existing customers. Successful diversification requires elements of innovation or
the creation of something new. You also have to clearly understand where your market is
headed and what your target demographic is. Create strategies based on this knowledge, and
you will see a successful increase in your market share.

Grand View Research has launched a new division named as Fin tech that covers all the
aspects related to the field of finance. The new division focuses on all aspects such as fin tech
technologies such Crypto Currencies, Fin tech Software and companies etc.