Market Research for Software Product – Upwork


We need a thorough market research report to identify potential market opportunities in the (industry will be showcased in private message). The goal is to gain insights into pricing strategies, feature gaps, and other aspects that can help us make informed decisions to enhance our product or service. The research should cover the following areas:

1. Competitive Analysis:
Identify and analyze key competitors in the industry.
Document their pricing models, including any discounts, tiers, or bundling strategies.
List the core features and functionalities offered by competitors.
Assess customer reviews and feedback on competitor products/services.

Highlight areas where competitors excel and where they fall short.

2. Pricing Strategies:
Research industry-standard pricing models.
Analyze the pricing strategies of successful companies in the industry.
Evaluate the price elasticity of demand within the market.
Identify any pricing gaps or opportunities for competitive pricing.

3. Feature Gap Analysis:
Compare our product/service features against competitors.
Identify gaps or missing features in our offering.
Assess the importance of these features to potential customers.
Determine which features could provide a competitive advantage.

4. Customer Insights:
Conduct surveys or interviews with potential customers to understand their pain points and needs.
Collect feedback on pricing expectations and willingness to pay for additional features.
Identify any unmet needs or underserved segments in the market.

5. Market Trends:
Research current and emerging trends in the industry.
Assess how market trends may impact pricing and feature requirements.
Identify opportunities to align our product/service with industry trends.
Deliverables:

A comprehensive market research report in digital format.
Visual representations, charts, and graphs to illustrate key findings.
Recommendations for pricing adjustments and feature enhancements.
An executive summary highlighting the most significant opportunities.

Posted On: January 26, 2024 18:14 UTC
Category: Market Research
Skills:Audience Segmentation & Targeting, Presentations, Report Writing, Business with 1000+ Employees, Market Analysis, Market Research, Competitive Analysis

Skills: Audience Segmentation & Targeting, Presentations, Report Writing, Business with 1000+ Employees, Market Analysis, Market Research, Competitive Analysis
Country: Moldova

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