Research Konnection’s Founder Reflects on the Company’s Success
“Never underestimate the value of research and planning while devising a strategy or making business decisions.” — Waqas H. Siddiqui, Founder, Research Konnection
Research Konnection can trace its origins back to 2014, when founder Waqas H. Siddiqui decided to dedicate his career to supporting entrepreneurs, startups, and companies start and grow their businesses in the Gulf countries.
“Growing up in UAE and being a resident for almost three decades,” Siddiqui says, “I believed I had a fair amount of knowledge about the country’s socio-economic dynamics. I combined that with business and research expertise to help businesses better understand the Gulf economy, markets and people.”
It hasn’t been an easy road — the market research industry is growing in Dubai. But Siddiqui knew he could build something special. “What differentiates us from the rest is our knowledge about the market and quality driven approach as we strive to provide customized and value-added research and insights.”
Siddiqui continues, “We specialize in primarily market and financial feasibility studies, business planning & development and successful market entry for businesses by conducting in-depth market research.” That level of expertise has helped our team grow into a trusted market research partner.
You don’t just have to take our word for it. Research Konnection is listed as a top company on The Manifest, a site that helps clients find the best companies for their B2B projects. We also have a profile on their sister site, Clutch, which allows our clients to leave feedback about our projects together.
In our most recent review featured on the platform, we conducted market research for a fitness management company. The result? Glowing reviews from their team.
“They were really professional, providing good service and support. […] I liked their support the best.” — Viktor Zaman, Founder, PLX DXB
We’re thankful for such thoughtful feedback, and we’re proud of the work that went into earning it. We hope it inspires you to invest in valuable market research services. As Siddiqui says, “Often, businesses undermine the importance of conducting market research and end up exhausting resources and investments in ventures that are commercially infeasible.”
Our biggest goal is helping you avoid that scenario by giving you the tools to grow. Reach out to us today to see what Research Konnection can do for you….July 8, 2020
Importance of Market Research in Post COVID-19 Pandemic
The COVID-19 has impacted almost all the sectors and has made the market highly uncertain. The unpredictable conditions have further increased the need to conduct market research to understand the market, consumer and economy while making investment decisions or important business decisions.
Dubai – The Land Of Opportunity
Strategically located on the crossroads of Middle East (ME) and Asia, Dubai is touted amongst the most sought after global destinations of trade and commerce. MNCs, SMEs and Startups prefer to make Market Research in Dubai as its focal point and tap into local and regional markets. The state of the art infrastructure coupled with business-friendly governance and cosmopolitan cultural appeal further incentivize businesses to set their base in Dubai, UAE.
Importance Of Market Research In Dubai
Dubai is also known for its highly competitive environment where businesses compete on quality, price and most importantly the market information. Therefore, to succeed in Dubai, better understanding of consumers, market and competition is required for companies (new and existing) to make key business decisions.
Market Research Advantages And Benefits
Devising Effective Strategies – With the help of a comprehensive market research exercise i.e. surveys & interviews, business plan and feasibility study etc., companies can identify potential opportunities, evaluate market demand and devise an effective business strategies.
Understanding Market & Competition – Market research helps companies in analyzing the latest market trends, competition and consumer behavior in Dubai, UAE and the GCC region.
Understanding Consumer Behavior – Market research helps companies in understanding consumer behavior and trends better. With the help of market research, businesses can better understand consumer needs and wants and accordingly position themselves in the market. Most importantly, an effective market research allow businesses to understand the following:
Target Audience Profiling – Identify customers
Market Segmentation – Identify niche / segment in the market
Market Positioning – Position business considering target audience / market segment
Marketing Mix – Plan effective product / service offering
Pricing Strategy – Understand key price points
Evaluating Return on Investment (ROI) – Market research in Dubai helps companies in better understanding return on their investments. By evaluating the market demand of products and services and through competitor scanning, market research allows companies to ascertain the business potential. Through in-depth market research, companies (existing and new) can not only reduce the risks associated with the investments but also benefit from increased revenues and profitability.
Types of Market Research
Economic Overview – Understand Economic Growth / Trends / Opportunities
Market Overview – Understand Market Size / Growth / Tends / Opportunities
Consumer Overview – Understand Customers through Surveys / Interviews
Competitor Overview – Understand Competitors / Market Share / Pricing Strategies / Competitive Advantages
Feasibility Study – Understand Market Entry Strategy (SWOT & PORTER Analysis)
Business Plan Development – Understand Business Setup (Licensing / Location / Operations / Financial / Sales & Marketing Analysis)
Benefits of Market Research In Dubai
Dubai is a unique market in itself and there are myriad of socio-economic, business and competitive forces that keep on unfolding in the background. It is the interplay of these forces that play an influential role on the growth trajectory of business ventures. Partnering with a right market research company will help businesses to understand their overall impact and based on that, take the right decision.
By imparting right knowledge and suggesting practical solutions, market research companies can enable business not just to accelerate their growth but also mitigate potential business risks. Therefore, it becomes essential for businesses (new and existing) to conduct in-depth market research and use information / insights to make key business decisions.
Research Konnection is a market research company in Dubai that assists local and international companies to setup or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on firstname.lastname@example.org…May 11, 2020
UAE Economy Outlook 2020 & Future
The United Arab Emirates (UAE) can be fairly labelled a global phenomenon. The UAE’s oil production along with solid progress …January 1, 2020
UAE’s Food & Beverage Industry Outlook
UAE is the second biggest market in GCC’s food and beverage sector with the country’s population at over 10 million people in 2018 witnessing a continued influx of more than 17 mil…December 29, 2019
United Arab Emirates Residential Visa – Process
The United Arab Emirates is a very attractive country from several points of view and many foreign citizens come to work or open businesses here. Among the advantages, expats can benefit from …November 12, 2019
…October 26, 2019
Importance of a Business Plan
“Is it really important to have a business plan?” A question that is being asked frequently in the business world on a regular basis. The answer to the question exceeds a s…October 21, 2019
UAE Startups: A Snapshot
Small and Medium Enterprises (SMEs) contribute heavily to the economy. In Dubai alone, SMEs are 95 per cent of the total business entities, contribute around 40 per cent towards…October 5, 2019
3D PRINTING TECHNOLOGY – BREAKING ALL BUSINESS DEFAULTS
What used to be science fiction years ago is becoming a reality today; the additive manufacturing industry (known as 3D printing) witnessed aggressive growth across the globe with millions of dollars being invested in research and development continuously. According to market data, the expected Compounded Annual Growth Rate (CAGR) for 3D printing from 2017 to 2020 is forecasted to be 19 per cent with massive growth already realized during the last couple of years making such expectation sounds reasonable.
What are the justifications for such hype?
The additive manufacturing disrupts the traditional business models that governed businesses for centuries. In different industries like furniture or electronics, prototyping, spare parts and exotic designs are major operational challenges due to massive time and cost absorption. With the introduction of 3D printing, engineers now can come up with a prototype at any site, print the spare parts when needed and come up with highly customized designs and shapes easily. Consequently, reducing the cost and saving time as illustrated below:
1- Cost Reduction – Although the direct expenses for 3D printing is high, there are several cost savings from another perspective. Such technology may require high material cost but creating parts on-demand means eliminating warehousing, transporting and wastage cost.
2- Time Saving – 3D printers cut ordering time as they simply create required parts at locations where it is needed. For example,
Spare parts availability and related costs are major bottlenecks in the automotive aftermarket sector. 3D printers already contributed in saving time as the American automaker FORD adopted 3D printing model that allows service centers to ‘Create’ needed spare part at their locations based on a standardized blueprint available at all service centers.
3D Printing Initiatives – Dubai & UAE
Back in 2016, the Dubai Government devised 3D printing strategy aiming to construct 25 per cent of the buildings by 2030 to be 3D printed in order to reduce labor (by 75%) and cost (by 90%). In addition to the construction industry, the strategy focused on other industries such as healthcare and consumer goods.
The world’s first 3D-printed office building saw the light in 2016 in Dubai, the process of printing took 17 days. Recently, Emaar Properties confirmed its first 3D-printed home to be built in Arabian Ranches. Likewise, surgeons in Dubai partnered with 3D healthcare technology company – Sinterex, to replace the jaw of a teenage girl diagnosed with an aggressive tumor.
Future of 3D Printing Technology
In a nutshell, the 3D printing technology is breaking the defaults of the whole value chain in manufacturing whether in procurement, processing, logistics or storage. It may be a luxury today, but there is a strong likelihood that it becomes a constant part of the future’s business models and everyday life.
Research Konnection is a market research company in Dubai that assists local and international companies to set up or expand businesses in Dubai, Abu Dhabi and UAE. At Research Konnection, we specialize in Market Research, Feasibility Studies and Business Plan Developments. Feel free to reach out to us on email@example.com…September 18, 2019
Gulfood 2019 Elevates Dubai’s Lead Role in Global Food Industry
The world’s largest Food and Beverage (F&B) event Gulfood 2019 recently concluded in Dubai. The 24th edition of Gulfood 2019 attracted over 5,000 exhibito…February 25, 2019