Market Research Saudi
Known as the world’s largest oil exporter, Saudi Arabia possesses 22% of world’s proven petroleum reserves in 2015 and is a dominant member of OPEC. However, the Kingdom is struggling hard to end its addiction to oil as the prices have been collapsed in recent years. Last year, Saudi rolled out new goals outlined in the so-called Vision 2030, aiming to transform the biggest Arab state in Western Asia’s economy beyond the oil.
The Vision 2030 plan targets to attract $1 trillion in foreign direct investment over the next 15 years and expects to create 500,000 jobs in the private sector, as a part of Kingdom’s goal to reduce unemployment to 7% from currently 11.6%.
New economic metropolises are also under construction. Saudi government is developing six ‘economic cities’, largest one will be the King Abdullah Economic City, which are expected to be ready by 2020. The main intent of these cities are to diversify economy and accelerate growth, as well as contribute $150 billion to the Kingdom’s GDP in 2020.
Saudi now offers more than just oil-based economy, an opportunity the multinational corporations must take a look at. Earlier this year, Saudi tapped foreign investors for the first time in history by selling $9 billion Islamic bonds. The Kingdom also raised $17.5 billion financing in 2015 and expects the public listing of state-owned oil giant Saudi Aramco in first half of next year.
Saudi which sorts among countries with relatively high per capita income with $20,481 recorded in 2015 are looking for more foreign MNCs to start their business in the Kingdom in efforts to both boost growth and make local business more efficient.
Solidiance, a market-entry and growth advisory firm focused in Middle East and Asia, helps business leaders and deal-makers with market research and strategy recommendations to develop and expand business in the oil-rich country. We are able to comprehend and represent the dynamic shifts taking shape in the Middle Eastern markets which most directly impact our clients. We convert deep knowledge on Saudi market into an actionable and comprehensive market entry and growth strategy.
We are known to be assertive, yet diplomatic and culturally aware and always seek to “get our hands dirty” in understanding the reason market behaviours will influence and indeed impact our clients’ business in the region.
Specializing in sectors such as industrial, technology, construction, automotive, telecommunications and healthcare, Solidiance prides itself in having on-the-ground insights needed to dig deep into the Saudi Arabian market and obtain reliable data used to analyze Saudi Arabian market trends, industry perspectives, and value chain partner opinion so that our clients can compete effectively in the Saudi market.
Saudi Market Research Services
We capture the right insights to provide proper analysis to cope with key issues hindering their growth in the market. In relation to this, we offer to help the clients through the following Market Intelligence services:
- Market sizing and segmentation
- Industry analysis
- Customer segmentation
- Channel management
- Value proposition definition
Solidiance is dedicated in providing specialized services for each client due to the fact that every one of them is conditioned with different need under certain circumstances. We predict our clients’ competitors’ next moves and changes anticipated in the marketplace, identify their potential customers as well as opportunities for them to leverage. In relation to this, we offer to help the clients through the following Competitive Intelligence services :
- Competition analysis
- Best practices benchmarking
- Competitor blind spots
- Track existing and upcoming competition
We dedicate ourselves in evaluating existing options and opportunities in the Saudi market to help our clients reduce financial uncertainty by mapping competitors, customers, partners, channels, suppliers and other market dynamics. In relation to this, we offer to help the clients through the following Market Entry services :
- Market analysis & market entry strategy
- Product and pricing strategy
- Site location analysis
- Alliances/Joint Ventures/M&A/Licensing
- Suppliers, outsourcers, & distributors search
Solidiance was established with a profound understanding of the ever-evolving customers’ characteristics in its marketplace. As such, we are well-versed in supporting our clients through customer profiling, identification of their factual needs, wants, usage-attitude-purchase decisions towards clients’ products and services, as well as reviewing clients’ budgets and purchasing habits. In relation to this, we offer to help the clients through the following B2B Customer Intelligence services :
- Customers demographics and behaviour
- Key customers profiling
- Decision making processes
- New products development and testing
January 22, 2016
January 22, 2016