A key issue for business planners is market knowledge. Knowing the size of a particular market gives businesses information on their own market share and potential profitability. Equally important are future trends: how will population growth, changing age structure, rising incomes, technological advances and regulatory changes affect the market?
Understanding markets is also vital for policy-makers. Almost every policy decision will have a market impact, and some, e.g. urban planning, can have profound impacts on the economy and society. Regulations, taxes and outright bans are aimed at changing behaviour and this usually happens through the medium of a marketplace. Policy can often have unforeseen effects, or can affect other markets. A sound understanding of microeconomic behaviour is essential for assessing these impacts and taking mitigating action where necessary.
For the past three decades DKM has been providing market analysis and advice to business and policy-makers. The firm has strong demographics and econometrics capabilities, and has developed national and regional economic and population models that allow varying scenarios to be tested. The firm also undertakes survey work itself and with professional market survey companies.
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