Keep up to date
The marketplace is constantly changing – construction performance, trading conditions, the state of the economy, regulations and performance standards, international trade and of course market and product trends, which may be driven by product and technological developments as well as fashion! It’s important not to become complacent and to continue to keep up with changes in the market or to influencing factors that may affect you, even if your product is established and your business is successful.
Quarterly or annual trend monitoring surveys could be the answer. The basis for the output will be an ongoing trends survey in order to assess how the marketplace and/or attitudes and sentiments are changing, but the results will also be analysed against an economic and market specific background.
Monitoring competitor activity on an ongoing and regular basis is also very worthwhile.