What is the Market Research? The Key to Making Data-Driven Business Decisions Market research is a systematic process of collecting and analyzing information needed to make accurate and well-founded business decisions. It aims to identify market size, structure, customer needs, competition, and potential opportunities and risks. Simply put, market research answers key questions such as: Who is likely to buy your product or service? Where is demand higher? What factors influence purchasing decisions? What strategies are competitors using? By understanding these, businesses can better interpret market conditions, optimize future plans, reduce risks, and identify growth opportunities early. Content What is market research? Key objectives of market research Main research methods Core indicators of market research Import market research Industry market research Conclusion Key Objectives of Market Research The main goals of market research include: Determining market size – how many consumers and how much demand exists Understanding customer needs and buying behavior Assessing competitors’ strengths, weaknesses, and market positioning Identifying market opportunities and risks Supporting decision-making when introducing new products or services As a result, your business can choose the right segment to focus on, determine pricing, select distribution channels, and craft effective communication strategies. Main research methods Market research is classified according to data sources, purpose, and methodology. The main types are: Primary researchCollecting information directly from consumers (surveys, interviews, focus groups).This data is tailored to your business and is highly valuable for decision-making. Secondary researchAnalyzing existing data from organizations, government, or international sources—such as statistical reports, industry studies, and publications. Quantitative researchBased on measurable numerical data such as market size, share, and trends. Qualitative researchExplores customer psychology and motivations behind purchasing behaviors. It answers questions like: “Why do they choose this product?”, “Why did they prefer a competitor?” SICA LLC SICA LLC RESEARCH COMPANY Our research company studies the structure, supply and demand, competition, and consumer behavior of both the Mongolian and international markets, helping you develop a data-driven business strategy. Contact us → Core Indicators of Market Research Market SizeHow many consumers exist and how much demand is there? Market Growth How is the market changing year by year—growing, stable, or declining? Market SegmentationClassifying consumers by age, income, location, interests, and lifestyle to identify high-value segments. Competitive AnalysisEvaluating the number of competitors, their strategies, strengths, weaknesses, and brand positioning. Demand and Supply AssessmentIs demand sufficient, or is supply exceeding demand? This directly affects pricing and sales strategies. SICA LLC SICA LLC RESEARCH COMPANY Our research company studies the structure, supply and demand, competition, and consumer behavior of both the Mongolian and international markets, helping you develop a data-driven business strategy. Contact us → Import Market Research Import market research analyzes the following aspects of imported goods. This helps assess the impact of foreign products and develop strategies for domestic production and new product entry. Import volume and priceWhat products enter the market, in what quantity, and at what price levels? Country of originWhich countries supply the most? What advantages or quality differences exist? Demand and usageWhat product types, quality levels, and price ranges do consumers prefer? Substitute productsCan domestic products replace imported ones? How can they compete? Import market research is crucial for pricing, quality improvement, and brand positioning. SICA LLC SICA LLC RESEARCH COMPANY Our research company studies the structure, supply and demand, competition, and consumer behavior of both the Mongolian and international markets, helping you develop a data-driven business strategy. Contact us → Industry Market Research This focuses on the overall situation of a specific industry, identifying internal structure, growth, opportunities, risks, and market players. Industry demand and supplyWhich products or services are in high demand? Which segments are most active? ProductionCapacity, technology level, and number of domestic manufacturers Transportation and distributionHow products reach consumers, logistics cost, and efficiency Sales channelsEffectiveness of online/offline sales and customer buying behavior Legal environmentTaxation, import policies, standards, and regulations This type of research helps identify industry trends, growth opportunities, and risks, supporting long-term strategy planning. Conclusion Market research forms the foundation of sound business decisions. A business backed by accurate information and real insights is always closer to success. Making decisions without research, however, involves high risk and can lead to unnecessary cost and time loss. Before your organization launches a new product, enters a new industry, adjusts pricing, or updates brand positioning, relying on market research is the most effective step. 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MONGOLIAN GENERATION STUDY 2025 We have been implementing "Data Literate Nation" strategy since 2020. As part of our strategic plan, we conducted the first nationwide “Mongolian Generation study,” revealing the values, lifestyles, perspectives, and aspirations of four distinct generations. The study provided a comprehensive snapshot of Mongolian society at that time, offering valuable insights into generational differences and shared characteristics. Five years later, in 2025, we revisited this research to capture the evolving dynamics of Mongolian society and highlight the changes and continuities between generations. This study goes beyond numbers and statistics—it provides a deeper understanding of the long-term shifts in attitudes, social values, and cultural outlooks shaping Mongolia today. Why This Study Matters It enables businesses, government agencies, educational institutions, and research organizations to make strategic decisions grounded in reliable data. By identifying generational differences and commonalities, the study supports efforts to foster mutual understanding and collaboration across society. The voices and perspectives of survey participants serve as actionable insights for policymakers, business leaders, and researchers. We are proud to make this updated study publicly available, empowering individuals to explore the unique traits of their own generation, better understand other age groups, and gain a clearer view of Mongolia’s development trajectory. At SICA, our mission remains the same: to continuously measure and analyze societal changes, promoting data-driven decision-making and helping organizations and communities thrive in a rapidly evolving world.If you want to learn more about study: https://www.datamon.mn/content/detail/111/

MEF YOUTH 2025 The MEF Youth event, which brings together representatives from the government, private sector, civil society, and international organizations, successfully concluded its third annual edition under the theme "Rebuilding Trust". The event aims to provide young people with a deeper understanding of the country’s economic and social development. At the event, we publicly presented the 2025 edition of the “Mongolian Generation Study” for the first time. Through this research, we aimed to showcase how the attitudes, beliefs, and consumption behaviors of different generations in Mongolian society, as identified in 2020, have changed by 2025.

World Bank Enterprise Survey in Mongolia This survey gathers opinions and facts about the business environment facing businesses like yours. The information collected will represent the private sector's vision of the challenges and opportunities in the economy and in the global market, meaning you have the opportunity to make your voice heard alongside thousands of other businesses from around the world. We are conducting this study in collaboration with ACT Global from Georgia. For more information : https://www.enterprisesurveys.org/.../world-bank...