MARKET SIZING AND FORECASTING

research_02research_03Aresearch_01 strong practice built up over the years is market sizing and forecasting, either as part of a larger project or a stand alone project.

We regard ourselves as masters of Korean statistics which comes from macroeconomic as well as microeconomic work. Our economic forecasts are used by a number of companies, and supplied to our KBF members.

KABC believes in bespoke research and not in fitting your problem to our model. We have a wide range of methodologies available based on 22 years of researching and consulting in Korea and Northeast Asia’s rapidly changing conditions. Where the research focuses around a particular issue, we particularly recommend considering our forensic research method, as opposed to the commonly used methodology which is extrapolated from consumer research.

We have sized the market for elevators, plasterboard, cosmetics, imported cars, construction equipment, specialist products from pet food to dermatological skin care, from whisky through milk to wine. We have also studied air travelers to specific markets, numbers of tourists, purchasers of life insurance, non life insurance and specialist products. A simpler statement is that if something can be sold, we have studied it and produced estimates of the market size.

For most clients we have produced forecasts for these markets, and for a select number we have developed forecasting models with a quarterly or monthly deliverable.

 

MARKET SIZING AND FORECASTING

A strong practice built up over the years is market sizing and forecasting, either as part of a larger project or a stand alone project.

We regard ourselves as masters of Korean statistics which comes from macroeconomic as well as microeconomic work. Our economic forecasts are used by a number of companies, and supplied to our KBF members.

KABC believes in bespoke research and not in fitting your problem to our model. We have a wide range of methodologies available based on 22 years of researching and consulting in Korea and Northeast Asia’s rapidly changing conditions. Where the research focuses around a particular issue, we particularly recommend considering our forensic research method, as opposed to the commonly used methodology which is extrapolated from consumer research.

We have sized the market for elevators, plasterboard, cosmetics, imported cars, construction equipment, specialist products from pet food to dermatological skin care, from whisky through milk to wine. We have also studied air travelers to specific markets, numbers of tourists, purchasers of life insurance, non life insurance and specialist products. A simpler statement is that if something can be sold, we have studied it and produced estimates of the market size.

For most clients we have produced forecasts for these markets, and for a select number we have developed forecasting models with a quarterly or monthly deliverable.

 

GENERAL CHECKUP:

Usually commissioned pending a strategic decision. Basic package provides total market size, competitor statistics, interview/surveys, competitor strategies and forecasts. In-depth analysis of the following may also be commissioned: organization structure, product portfolio, pricing, sales & marketing, service and delivery, marketing and promotions, training, e-technology, manufacturing, R&D, Financial and key investments.

 

BLOOD TEST:

An affordable solution usually commissioned by HQ to keep a finger on the pulse of key indicators. It is especially useful if the client is an exporter and doesn’t have a physical presence in Korea, or there is reason to suspect the verity of data and claims from Korean partners.

Case Study:
A food importer might not know that natural black foods are an emerging health craze (mid 2008). Early warning on emerging trends allowed the food importer to move into a position of strength while the market was in its infancy.

 

HOME TEST KIT:

Get unbiased professionals to analyse internal company data for a fraction of the cost it takes to hire a professional.

Case Study:
An employee responsible for analysing data and creating forecasts (that eventually became annual budgets) quit after working at the company for 8 years. 
Management had not scrutinized the methods of calculation for they were usually accurate within a 3~8% margin. It was only later that management realized, after careful scrutiny of factors and formulae that it involved a substantial amount of guesswork and arbitrary designations. The previous employee had been able to make accurate forecasts due to long exposure and an ad hoc knack for understanding the industry.

For most clients we have produced forecasts for these markets, and for a select number we have developed forecasting models with a quarterly or monthly deliverables. We recommend that that companies consider using our General Check Up, Blood Test or Home test kits.[:]