Research Methodology
Quadrant Market Insights follows a robust research methodology along with proprietary tools developed by industry experts to ensure accurate forecast models and provide authentic data sources to our client base. We have divided our research methodology into four major aspects. We perform these four iterations as our initial research approach, followed by customised solutions as requested by our client. The four major steps that strengthen our approach include market scoping, market estimation, research validation, and report writing. Each of these steps is further divided into respective categories to ensure that our analysts forecast accurate reports and maintain the highest quality standards.
Market Scoping
Problem Identification
Problem identification serves as the foundational step in the initial step of market scoping. We follow a robust and logical approach to identify challenges and potential opportunities within the marketplace. In this step, we take into consideration several factors, such as shifting consumer preferences, emerging business and end-user trends, and shifting business dynamics, among others. Articulating correct and precise problem definitions is pivotal to ensuring the quality of our research reports.
In the phase of problem identification, we receive input from our in-house research team and industry experts to understand market requirements. We also receive regular updates from our existing and previous clients about their problem statements, which fuel our report studies. Through our top-level analysis, we identified notable shifts in the market post-COVID-19. Moreover, the ongoing Russia-Ukraine war and the onset of global economic slowdown is also taken into consideration in defining the business opportunities within the market, allowing us to consider crucial topic for our analysis and forecast.
Defining The Market
After accurately defining the problem statement and finalising the report’s title, we define the market into several segments based on their application, components, end use, and other factors. A comprehensive mapping of companies operating within the scope of the study is performed, taking into consideration a range of criteria, but not limited to such as net revenue, operating profit, geographical presence, and range of products. Other factors such as market penetration, planned product launches, strategic initiatives, expansion strategies, and patent analysis are also done to identify key market players.
We also perform feasibility checks on regional levels and consider the regions showcasing the highest revenue and growth potential. There are certain areas where there is limited feasibility for data extrapolation and forecasting. In such cases, Quadrant Market Insights has developed proprietary tools and approaches to ensure precise estimates and forecasting.
Sample Selection
In this step of market scoping, we define a specific sample for our studies. We ensure that the sample selection is of the utmost random and comprehensive nature. Quadrant Market Insights (QMI) follows various approaches such as random sampling, stratified sampling, convenience sampling, Quota Sampling, judgmental sampling, snowball sampling, and cluster sampling, to name a few. We also consider major target markets from the supply and demand sides for our study. In the sampling process, we take industry expert opinions to gain the desired level of confidence and understanding of the margin of error, which is then clubbed with our proprietary statistical calculator and research approach.
Research Design
Market Estimation
Data Mining
Product Analysis
The product analysis step in the market estimation phase of our study includes a comprehensive understanding and analysis of products existing in the market while evaluating the appeal of future products in the coming years. The step involves comprehensively examining the product’s features, quality, pricing, branding, and alignment with customer needs and preferences.
By conducting a thorough product analysis, we can identify their offerings’ strengths, weaknesses, opportunities, and threats. This valuable information guides us in understanding the product development, marketing strategies, and decision-making processes that the target company is adhering to, helping us refine our analysis and forecast to gain a competitive edge.
Application Analysis
Market Engineering & Forecast
Research Validation
Data Triangulation
Primary Research
Industry Expert Feedback
Cross-Industry Referencing
As part of our research validation process, we apply cross-industry referencing to strengthen the accuracy and credibility of our findings. This involves analyzing and comparing trends, data points, and strategic movements across industries that are economically, technologically, or operationally connected to the target market. By examining broader patterns and shared external influences, we can validate key assumptions, identify gaps, and refine our projections.
Cross-industry referencing helps us ensure that the insights we generate are not limited to a siloed perspective but are grounded in a wider market context. It enables us to assess whether observed developments are unique to the target industry or part of a larger economic or technological trend. This approach adds a critical layer of depth to our analysis and increases the confidence in our conclusions. Ultimately, it allows us to deliver more holistic, insightful, and actionable market research to our clients.
