apeloconsulting

[apeloconsulting]

Biomaterials Influencing the Global Healthcare Industry

The biomaterial is a substance that is designed to interact with biological systems for a variety of medical purposes that are either therapeutic (improving or replacing, enhancing, or treating body tissue function) or diagnostic.

This is a fifty-year-old creation, also known as biomaterial construction/ science. It covers all sectors of chemistry, biology, medicine, tissue engineering, and materials science.

Do not mix it with the natural matter, as it can also be created in laboratories. They may also be natural in nature, while synthetic is created from a combination of composite materials, polymers, and the like. As for the market change caused by rapid developments and deliveries, there has been a huge demand that shows the healthcare industry in the world.

According to Business Oriented Research from Apelo Consulting

Factors Influencing The Growth Of Biomaterials In The Global Healthcare Industry

As the use and demand for the market for biomaterials for its therapeutic and diagnostic procedures increases, it is clearly seen as a growing factor in the healthcare industry worldwide.

The industry not only benefits from this, but ultimately offers the best service in solving health problems and problems in cancer, orthopedics, ophthalmology, and the like.

The global growth of health trends in the biomaterials market is due to a variety of medical applications and conditions that require its use and require immediate reform. In order to accept such solutions, it is crucial to take market research in this sector to another and effective level.

Market research companies have argued that cancer treatment has been quite involved in diagnosing biomaterials and predicting different types of cancer and using them to provide anti-cancer drugs, making it effective in all aspects. Many therapies have been identified that cause fewer cancer side effects because it targets the tumor, making it more preferred and less harmful.

Another factor driving the growth of the global healthcare industry is the lack of experienced and qualified surgeons, ie the manual work required during surgery and treatment.

The biomaterials market is one of the best ways to promote healthcare trends with digitalization and technology, as many market research companies have analyzed and concluded.

According to Market Research Service from Apelo Consulting.

Global Biomaterials Market Dynamics And Regional Analysis Until 2027

Market dynamics:

The growing geriatric population, the prevalence of cardiovascular, neurological and orthopedic disorders, and the large funding of governmental organizations to bring new products to market are key factors that could grow in the global biomaterials market. In addition, raising awareness of the benefits of biomaterial products, together with the increasing production of implantable products, is another factor that requires the growth of a global target market. In addition, the growing number of hip and knee replacement procedures in the elderly, growing orthopedics, and neurological disorders are some of the factors that call for increased revenues in the global biomaterials market. However, the high cost of biomaterial production is a major factor that is expected to slow down the growth of the global target market.

Regional analysis:

The North American market will account for the largest share of the global biomaterials market during the forecast period, due to the growth of biomaterial-based research and the growing demand for plastic operations in the countries of the region. The Asia-Pacific market share of the global biomaterials market is expected to be the second-largest due to the growing incidence of cancer and cardiovascular disease in the countries of the region. The European market is projected to record the fastest revenue growth due to increased awareness of biomaterials in the countries of the region. In addition, the Latin American and Middle Eastern and African markets are expected to grow moderately over the forecast horizon.  According to Industry Oriented Research from Apelo Consulting.

#Global Healthcare Industry

[apeloconsulting]

Generic medicines are medicines for the pharmaceutical industry that have the exact characteristics of a branded medicine. In terms of pricing, however, it is somewhat lower than the brand name drug it copies.

They are similar in terms of strength, quality, dose, route of administration, efficacy, and use of similar drugs. In principle, the difference here is that the generic medicine is so named because it has no trademark to refer to and no marketing or advertising.

According to Market Research Service from Apelo Consulting.

General Pharmaceutical Market Trends

However, the number of generic medicines on the market decreased in the first years, from 45.19% in 2011 to 43.56% in 2015. After a few years of expansion and prosperity, the market was stable in 2015–2018.

One of the reasons that have led the pharmaceutical industry to pay for generic medicines over the years has been that huge pharmaceutical packaging companies and pharmaceutical companies have lost or are losing their patent protection.

As market research firms have pointed out, the low cost of generic drugs in their use and driving growth in the market has changed enormously, compressing the economies of both the pharmaceutical packaging and pharmaceutical sectors.

Healthcare market research has shown the availability of different types of medicines and their demand is growing in the market based on consumer preferences and consumption. Market size is related to regions such as Europe, North America, and Asia-Pacific is one of the emerging markets where America is a leader.

The main trend in the generic market is the use of RPA to ensure that regulatory and standards compliance is achieved not only in the current years but also in the future. Such ways of working in the market will not only receive a positive response but will also be able to reduce costs for the pharmaceutical industry.

According to a report, New York, January 31, 2020: The generic market is expected to exceed more than $ 688 billion by 2024, with a CAGR of 8.7% over the forecast period.

According to market research companies, these medicines are an exact copy of branded medicines, the only difference being their pricing. However, they are comparable to the actual drug in terms of dose, quality, effect and exact dose, quality, effect and route of administration, and dose structure.

According to Industry Oriented Research from Apelo Consulting

The Future Of The Generic Market

The fact that the price of generic medicines is lower than branded medicines is one of the main reasons for increasing the growth and size of the market. The creators of this drug do not have to incur high initial drug development costs and profits, paying 85 percent less than those of the brand.

These drugs are divided by product type, application, and region. America is the market leader, and health market research has concluded that APAC is expected to have the highest growth rate in the entire forecast period. Popularity, use, preference, and low costs are leading the market higher and higher every year.

#Generic Drugs Market Trends

[apeloconsulting]

How Do You Conduct Market Research To Reveal Business Opportunities?

Conducting Market Research is very important to give a picture of a business. Through Market Research, businesses get to know about services and products that can bring profit and success to them. 

With the help of market research, companies get answers to specific questions and not only large enterprises but also small business gets to know what step to take. Accordingly, they can make changes in their ideas and they will also get an idea about the additional services that they can provide to the customers.

After the market research is conducted, the results can help you to do the following things:

Create a business

Can do market planning

Measure the success of the current running business

This is the reason why it is important to ask the correct questions. 

Market Research To Reveal Business Opportunities:

Market research is done in two ways: Primary Research and Secondary Research. 

If we see Primary Research then in this type, data is collected to analyze the current sale and also consider the plan of the competitor to give a better idea about your plan of action. It also gives you knowledge of your competitor’s action. The primary research is done through interviews, surveys, questionnaires, and many more things on the list.

While on the other hand, Secondary research collects and analyzes the published data through which you can identify the competitors. You can collect such datas through two ways: Quantitive and Qualitative Methods.

Important Questions That Must Be Included During Market Research:

What features do you like most about our product or service?

Is our product or service easy, fast, convenient to use?

How can we improve our product or services?

Can we help you get started with our products or services?

How was your experience with us?

#Reveal Business Opportunities

[apeloconsulting]

Airline Industry In Crisis Due To The COVID-19 Pandemic

According to the research during the COVID-19 crisis, many different sectors have been affected vigorously but among all, airlines have been impacted the most.

Euromonitor International has shared the same thing about travel and tourism saying that along with airlines, travels and tourism are on its knees and gave been hit the hardest. This coronavirus crisis has seen a loss of around 90 percent of passengers and airlines are facing a huge loss and are potentially bankrupt. According to Industry Oriented Research from Apelo Consulting

Even after the abolition of travel restrictions, the formerly lucrative business travel segment may change permanently as companies become accustomed to a cheaper, more efficient, and safer alternative to video conferencing. Rising unemployment is also stifling consumer spending on travel, with weak passenger confidence and a continuing negative press.

Due to the impact of COVID-19, some investors have completely avoided the aviation sector. Back in May, billionaire investor Warren Buffet famously sold his entire stake in Berkshire Hathaway in the United States, America, the Southwest, and the Delta, saying: "The world has changed for airlines."

Impact On Airline Industry Due To COVID-19

The revenue generated by airports is directly related to the level of traffic. As a result of denials and cancellations, the number of flights will decrease, so there will be less aviation revenue. Unlike other aviation operators, airports have limited scope for cost reduction as traffic demand declines. The costs of operating the airport infrastructure will remain the same and airports will not be able to close or relocate terminals and runways.

Another aspect that is important and necessary is non-aviation revenue because aviation revenue alone cannot cover all airport activities and capital costs. For hubs in some regions, non-profit organizations are the main source of revenue. Asian and Pacific airports earn around 45 percent of revenue from non-aviation sources. The decline in passenger numbers has a significant impact on the performance of the airport and the airport retailer.

It also has a human impact on the community and all staff working at the airport with different sectors and service providers. It has become common for retailers and airlines to ask their staff to take unpaid leave at this worrying time.

According to KOL Study for Business from Apelo Consulting

An industry that faced challenges

Before the pandemic, airlines tried to increase revenues, even if they had increased passenger and freight traffic. Over the past five years, according to IBISWorld, the global aviation industry has grown at a slower-than-expected pace due to volatile fuel prices, increasing competition, the spread of low-cost airline tickets, and declining world trade. Airlines known for their high fixed costs have often faced many serious market failures.

Mapping Potential Recovery

The current market environment is full of worrying reasons, but a potential improvement is expected for the global aviation industry.

A recent survey of 537 aviation experts, including aviation and airline managers from around the world, provides some perspective on the possible timing and nature of a possible recovery.

According to the survey, 60% thought that it could take industry 18 to 3 years to reach pre-COVID levels. A significant majority (89%) said that the industry would recover, but 69% said that the industry would be fundamentally changed.

This recovery schedule is roughly in line with the market research firm Frost & Sullivan's estimate that passenger numbers predict pre-pandemic levels in two or more years.

The Airline's Business Strategies During COVID-19

Although the recovery may not happen soon, there are some growth opportunities for airports and airlines.

Frost & Sullivan advises airlines to move in a number of ways during this uncertain period:

Use digital solutions to exchange resources and increase up / down operations efficiently. Digital tools can help meet a variety of needs, including business efficiency, contactless boarding, revenue management, and network planning.

Implement next-generation technologies. The Internet of Things and big data analysis help optimize the operations of airlines and airports and make health checks more efficient.

Negotiations to conclude transactions to reduce fixed costs, implement budgetary discipline, and protect the well-being of workers.

Additional Airline Market Research

Looking for up-to-date analysis of the aviation industry? MarketResearch.com provides comprehensive, data-packed reports on almost any topic related to the aviation industry. We cover all regions of the globe, individual countries, and various market segments.

The situation regarding the response to COVID-19 remains smooth and the consequences for the emerging aviation industry are uncertain.

According to Market Research Service from Apelo Consulting

#Additional Airline Market Research #An industry that faced challenges

[apeloconsulting]

What's the most effective method for market research?

Market research is the way through which the brands and researchers can collect data or information from the market and audiences. 

Given below are the market research and different methods that are effective for market research.

Primary And Secondary Market Research

Market research is divided into two sections: 

Primary (field) research

Secondary (desk) research

Market Research Methods

1. Surveys

In this method, survey questions are given to people over the phone, mail, or online form. You can ask questions in different manners such as:

Dichotomous (two choices, ‘yes’ or ‘no’)

Multiple choice

Checkbox

Rating scale

Demographic (asking after info such as gender, age, or occupation)

2. Social media listening

Listening to social media democratizes knowledge and is particularly useful for market research, as a large amount of unfiltered information is available. Since it is not advertised, you can be pretty sure that you have an accurate overview of what the person really cares about and thinks about (unlike giving them the topic where the researcher is).

3. Competitive analysis

Competitive analysis is a highly strategic and specific form of market research in which a researcher analyzes his company's competitors. It is critical to see how your brand competes. A competitive analysis begins with the definition of a product, service, or brand, and market segment. There are different topics to compare a company with competitors.

4. Analyze sales data

Sales data is like a jigsaw puzzle that helps reveal the big picture from market research reviews. In essence, it shows results. Together with other market research data, sales data helps researchers get a better picture of activities and consequences. It is also important to understand your customers, their buying habits, and how they change over time.

Choosing A Market Research Method

Not all methods are right for your situation or your business. Once you've reviewed the list and seen something that came up for you, spend more time researching each option.

You can consider what you want to achieve, what data you need, the pros and cons of each method, the cost of conducting research, and the cost of analyzing the results.

Understand this correctly and it is worth all the effort.

According to Industry Oriented Research from Apelo Consulting provides Market Assessment Service.

#Market Research Methods

[apeloconsulting]

What Market Research Questions Should Be Asked To A Company?

Market research is the term that is used to describe the research that is done on a relevant market. The market can be defined in many ways:

The industry you want to target

Area of targets- region, state, or countries

Interest to target- businesses, customers, men, women, etc.

The questions that are asked totally depends on what you want and for what purpose. Businesses dive themselves into market research to find out and understand the market and where to focus. This is done to understand the buyer’s need and it is the best way to go through what your user or customer needs.

Not only this but the market research is also done to find out the competition in the market in their niche through which the businesses find out the strength and weaknesses of the competitors.

Most of the companies say that the method they use for market research is up-to-date and advanced due to which they deliver the exact results. But on the other hand, they have also worked with companies that did not provide a desirable result.

So let us find out what questions should be asked to a company for market research. Given below are the questions that must be asked to know your customers.

Are your surveys optimized for mobile devices? 

What is your average turnaround time for a project like this?

What kind of reporting and analysis is typical on a project?

With what types of business questions do you have the most expertise?

Whatever questions you want to ask, ask it in such a way that in the end, you get all the answers for your research and you are satisfied with the answers.

According to Market Research Service from Apelo Consulting with Industry Oriented Research.

#Market Research

[apeloconsulting]

Role Of Digitalization In Oil And Gas Industry

As industries and companies such as the oil and gas industry touch on all the hopes of extremists in achieving their goals and provide people with precise needs, technology and digitization are some of the aspects that almost everyone has embraced. According to the Market Research Service from Apelo Consulting.

Digital adoption in the digital age has brought profound opportunities to reshape the way businesses operate, resulting in better productivity that takes less time and costs less through increased efficiency.

The oil and gas industry is using the assets of the digital transformation to overcome its business barriers and provide easy access to its operations by identifying digital ways to create its own growth strategies and plans.

Digitization in Oil and Gas Industry

As oil and gas are the dominant and efficient sectors in terms of revenue, the industry attracts thousands and thousands of workers. Due to the high income earned in this sector, it also affects the total GDP.

Many oil and gas companies that have already set foot in digitization have seen sales and revenue growth and consistently positive results with the help of oil and gas analysts.

Companies have used advanced techniques to restructure production and perform all operations, monitoring them remotely, and using equipment maintenance to reduce risk and low costs. According to Industry Oriented Research from Apelo Consulting.

As the oil and gas industry is at a standstill in the current scenario, the digitalization of the oil and gas industry would be a savior for the industry. Many countries, especially where oil production takes place, have decided to restructure their national economies by introducing a digital transformation by the end of 2035, following the example of others.

The introduction of digitization not only increases the company's connectivity but also provides a better overview of operations, which ensures firm control over important assets.

The impact of digitalization, which will help this industry gain perspective and make it more reliable, affordable, and scalable, will make the digital transformation a cost-effective approach for businesses, allowing them to analyze and pass on big data in less time and effortlessly.

Market analysis and applications of digitization in the oil and gas industry

Digitization certainly does one thing: it is valuing and valuing the oil and gas business, improving their methods, reducing costs, and also having a huge impact on the global refining market.

According to Weforum, digital technology has the potential to release approximately $ 1 trillion worth to the oil and gas industry and $ 640 billion to customers and society.

Not only do industry producers benefit, but society and the customer can reap fruitful benefits.

The digital transformation is projected to improve productivity by about $ 10 billion, saving customers about $ 170 billion.

The Future Of Digitalization Of The Oil And Gas Industry

As the oil and gas industry is already of low value in the market, the introduction of digital transformation and technology will only offer the industry better solutions and opportunities.

By enormously improving operations, the digitalization of the oil and gas industry can easily build its huge structure, improving performance, and reaching different and modern levels of solution.

Problems such as falling crude oil prices and cost overruns have shaken the industry to a great extent. Digital transformation can help the industry here by providing solutions to meet the challenges and offering the best solutions for everyone.

High Beam Global has studied in detail and in-depth knowledge of the digitalization trends of the oil and gas industry.

#Oil And Gas Industry

[apeloconsulting]

Why Analytics Is Important For Healthcare Industry Transformation?

It is understandable that anyone can be intimidated by the huge influx of data that flows through healthcare systems every other day. However, gaining meaningful insights into this and treating patients and preventing disease is a big step in healthcare. This is done by Big Analytics or Advanced Analytics. The data obtained from the machines is just a confusion of these zeros and zeros, and you will not benefit from it if you do not understand what it is trying to convey.

Role of Analytics in Transforming Healthcare

Healthcare organizations across the United States have begun to adopt technologies such as PACS imaging systems, telemedicine services, EMRs, or electronic health records that attempt to understand the massive flow of data through the system. It is therefore important to know the means by which information can be gathered from the data in order to create value and enjoy operational, financial, and clinical knowledge.

Healthcare organizations can use information gathered from a variety of sources in a number of ways.

1. Disease surveillance and preventive treatment

Healthcare analysts work diligently with the data provided to them. Therefore, they examine both structured and unstructured data, including data that is easily accessible through non-traditional channels (eg social media messages, text messages, etc.) to distinguish any patterns. They turn all information into practical information and work for better health.

2. Develop clinically relevant and more effective diagnostic and therapeutic techniques

Organizations rely on the experience of health analysts to collaborate with data collected from a variety of sources to monitor the effectiveness of their processes. This would help them understand how patients have responded to their program and what their condition is.

3. Developing faster, simpler and more productive R&D pipelines

It is not easy to take the medicine out to the patient. Drug development is a thorough and overwhelming process that takes thorough clinical trials and then eventually FDA approval. Every pharmaceutical company and healthcare provider must go through this process strictly before administering medicines to patients. Companies are using predictive modeling, statistical tools and algorithms, and healthcare analytics to reduce the time a drug stays in the R&D pipeline.

The Value of Analytics

The healthcare industry is undergoing serious changes as it moves from a volume-based company to a value-added company. Healthcare providers are under enormous pressure to provide value-based care that provides better outcomes for patients. It has, in fact, changed the cost structure, extended life expectancy, and improved control of chronic and infectious diseases.

Patients are not the only ones to benefit, as it has also affected many other entities - facility providers, insurance providers, government agencies, and so on. For example, insurance companies are moving their models to value-based data for fee-free payments using EMRs. Electronic health records can ensure the quality of patient care.

Together, these units address the following areas:

Disease Intervention and Prevention

Care Coordination.

Customer Service

Financial Risk Management 

Fraud & Abuse 

Operations 

Healthcare Reform 

Conclusion

Big data and predictive analytics help inform care management decisions, leading to stronger motivational relationships between providers and patients. It plays a very important role in creating long-term positive inclusion, preventing readmission where possible, and minimizing the risk of chronic diseases. By examining and analyzing structured and unstructured data, organizations can predict disease, prevent epidemics, and reduce mortality.

#marketresearch businessresearch quantitativeresearch qualitativeresearch Apelo researchanalyst marketing primaryresearch secondaryresearch b

[apeloconsulting]

How The Oil Industry Is Affected By The Coronavirus Outbreak?

COVID-19 has taken down many companies and to keep the safety everything has been shut down due to which there has been loss everywhere.

The pandemic has forced the companies to pause or slow down the working due to which the production has been affected adversely. Oil Industry is one among them.

Since January, the spread of the coronavirus has caused global stock markets to decline and reverse the positive rise in oil prices, doubling the outlook for pessimistic oil demand, despite numerous short-term supply risks. As the virus spreads beyond Asian borders, the oil market continues to suffer losses and no one issure till when this crisis will continue,

The coronavirus affects the oil market in two ways. 

Firstly, travel restrictions due to containment efforts limit the use of jet fuel, supply chains are slowing down and industrial activity is declining as companies send workers home, which means less use of oil and oil-based products. This will have a very direct effect on oil consumption and will make it possible to calculate real oil demand in the near future. 

Second, the stock market reaction to the impact of the coronavirus on the world economy is based on a long-term forecast of global oil consumption. As broader market sentiment about the health of the global economy declines, so do projections for the future oil demand curve, prompting oil and energy stocks to fall and prices to fall further.

Things that are impacting the oil industries are:

1. Oil price crash

One of the important effects of the coronavirus outbreak on the downstream oil industry is that the price of crude oil has fallen significantly in a short period of time, bringing down the stock prices of major oil and gas companies by billions.

On January 1, a barrel of crude oil was sold on the NASDAQ stock exchange in New York for $ 67.05. The company's oil reserves are worth about half of what they were at the beginning of the year. The value of giants like BP reflects this: Today, BP's market price is worth 51% of what it was at the beginning of January.

2. Demand drops

The oil price wars began with a decline in supply and demand in China. Other governments expect the same effect as the virus spreads.

As demand in Europe and the US declines, China hopes to resume production. In its monthly report, the International Energy Agency predicted a drop in demand of 90,000 barrels per day a year, the biggest drop in ten years.

3. No Travel and office closures

Equinor is not the only company to impose travel restrictions. Royal Dutch Shell was one of the first companies to announce that it would suspend the travel of its employees, and others did the same.

The US oil company Chevron has asked employees to postpone the trip, and it was one of the first to send subcontractors home. The company sent employees home from its London offices on February 26 after the employee developed flu-like symptoms.

#coronavirus outbreak #No Travel and office closures #. Oil price crash

[apeloconsulting]

The Rapid Change In The Use Of The Internet Due To Coronavirus

COVID-19 has affected in many ways, and due to this crisis, the usage of the Internet has increased widely. This has happened because of the shut down of malls, shops, restaurants, and other things. 

So people did not have anything to do in this lockdown, and the only option left was the smartphone. Apart from this, the usage of the internet saw rapid growth because of the Work From Home System as companies are also shutdown. 

We now are totally dependent on the internet to do our jobs, to go to school, and to see other people. It has become our primary source of entertainment. And we’re using it a lot.

People are conducting meetings online, staying connected with their family through video calls, and what not all. Let us understand the rapid changes that have been seen on the internet during Coronavirus.

Internet Usage Stats

From January to March, Internet traffic grew by a quarter in many major cities in the US.

Demand for the internet has increased, especially for certain web services.

In the first two months of 2020, Zoom video conferencing software began to be used by more people than everyone else in 2019. 

The entertainment of being at home is also booming. A record number of people use the popular online game store Steam.

Grocery stores in online stores can't keep up with business growth - customers are waiting for hours on virtual lines for tens of thousands of people.

Usage Of The Internet During Coronavirus Outbreak

When the use of some applications (such as Zomato) has decreased, online store sites, applications such as online games and youtube channels are on the verge of crashing due to huge traffic. On the other hand, youtube has reduced visibility due to high traffic, making it impossible to upload videos.

Well, on the one hand, 50% of people use the Internet and work from home, on the other hand, the remaining 50% do not use work applications or the Internet of Things, so the network has enough space and there are fewer chances of a crash, probably.

Now, at some places, the lockdown has been removed and still the usage of the internet has not seen lack as companies are not taking any risk of opening the offices. So, still, they are preferring Work From Home Policy.

Not only offices, but also schools and colleges are taking lectures online. Still, despite this much usage, the internet seems to be doing just fine.

#work from home #Internet Usage Stats

[apeloconsulting]

What Actions To Take For Successful Business Operations During Coronavirus

The Covid-19 crisis has reached a new critical phase, where the businesses have to think before doing anything. As everything they do must be done by following the government rules and regulations.

As many people panic about the spread, companies are seeing a decrease in traffic and an increase in isolation.

So a big question arises about what businesses must do!!!

The answer is “PLAN”!!

If you own a business and to protect it as well as the employees during COVID-19, then you must follow some precautionary measures along with following social distancing.

Actions To Be Taken To Protect Your Business During A Pandemic

Protecting your business and running during this pandemic period is not less than giving new birth to your business. By doing so, you are preparing your business for the worst!!

Follow the given below tips to keep your business healthy!!

1. Create A Plan

A preplan is better than seeing the worst for your business!! So, if you have not created any plan then go for it now for your business and employees!!

The plans help when there is an emergency. So include the given below points in your plan:

Steps to be taken to protect your employees

What you will do if COVID-19 strikes your business?

What precaution you will provide when employees will contact you during an emergency?

What precaution you will provide when employees will contact you during an emergency?

2. Follow Work From Home Policy (If Possible)

This policy works!! It seriously works!!

Try this Work From Home Policy and this creates faith in both the employer as well as employees. Through this, everyone will be safe from COVID-19 as they will stay at home and follows Social Distancing.

It might happen that you might not provide the luxury of working from home as you provide in the office. This is where you will get to know about the trustable employee. Also, include rules and regulations for Work From Home policy.

3. Inform Managers About Updates

Keep updating the managers about the condition of the company due to the pandemic. Communicating with the managers will help you get new ideas about the improvement that can be made. 

To ensure the safety of your business during a virus outbreak, you need to do your own research. And don't forget to check your national and local news for details on coronavirus spread and regulations.

After completing your homework, pass this information on to managers and supervisors as soon as possible. This way, they can speed up the situation and the situation your business is in.

4. Keep Your Employees Up To Date

Keeping employees up to date increases the trust level between you and the employee. 

You can send a memo or e-mail or arrange a mandatory company meeting (via video chat, of course) to send coronavirus-related news to your employees.

Employee recruitment not only allows you to communicate your policies but also helps reduce panic in the workplace. The more your employees know, the better.

5. Take Advantage Of Federal Relief

The coronavirus is impacting the business world and economy. But don't panic, because business relief is underway for small businesses!

The government plans to pass legislation to help small businesses and individuals who have been negatively affected by the virus. This includes, for example:

Low-interest federal disaster loans

Employer tax credit

Federal income tax deferral

If your business is struggling to raise money to cover business expenses due to a coronavirus outbreak, you're in luck. The government is allocating millions of dollars in low-interest federal disaster loans backed by the Small Business Administration (SBA).

#online business grow #covid 19

[apeloconsulting]

The Business Insights Approach Through Coronavirus

Due to COVID-19, there has been a huge impact on businesses. Not only employees but also the employers have seen the bad times. 

It has become very difficult for businesses and there are many questions that need to be answered. The answer to such a question is in the insights of the market. Every business will get the answer here.

The negative effect that has been caused by COVID-19 is impossible to recover within a few months. During this situation, people should not search for an answer but must get insights and expert’s advice. 

You need to have knowledge of the market as they are the ones who can help us understand whether it is correct or not. We all are aware of how bad coronavirus has impacted us. If we take an example of hospitals, only doctors can help us with this information as they are facing difficulties because of coronavirus. 

Same way, only business experts can tell us how they are coping up in their business during this crisis.

How Insights play an important role in the Pandemic Coronavirus Outbreak?

The market research firm tries every possible way to help the public and consumers in this pandemic so that they can get awareness about the market and be less stressed about the situation. To get relief in these circumstances, every respondent of industries is cooperating and providing awareness.

Market research firms provide zoom meetings, telephonic discussions, and online surveys to people to spread awareness.

We all know how the coronavirus has impacted which has led to a country lockdown and also markets are closed that has changed leading to 

When the whole market is closed and countries are at a standstill, consumer buying behavior in the midst of the Coronavirus has changed drastically, leading to stock-based and priority-based purchases.

This change has drastically molded many companies’ business approaches, prompting them to change swiftly and adapt the strategies and plans to change consumer behavior.

Such companies are working very hard to provide what the consumer needs and are also seeking knowledge on how they can satisfy their requirements.

The whole healthcare system and the global economy have been impacted due to COVID19 and are finding solutions to overcome the situation.

Every minute details of this virus can be seen with the knowledge, and the data is also analyzed shows how fast it is growing and how dangerous it is for a particular age group. This awareness has also helped the government infer the patterns of protecting the people and asking the elderly to stay where they are. Lockdown is applied everywhere so that there can be some changes in the situation or change in the effect of the virus which was also analyzed and understood using knowledge.

#marketresearch businessresearch quantitativeresearch qualitativeresearch Apelo researchanalyst marketing primaryresearch secondaryresearch b

[apeloconsulting]

COVID-19: Impact of Coronavirus on Global Economy in Figures

Case Studies For Business

COVID-19 has affected almost 200 countries and all US States adversely. Not only this but the global economy is highly affected and the growth has been declined beyond anything which has not happened nearly in a century. 

If we go as per the estimates, the pandemic will affect the global economic growth by 3% to 6% in 2020 and by 2021, we will notice a partial recovery. 

But for now, we cannot say exactly how much economic damage will be caused due to global COVID-19. If we see the loss of the major economies in comparison with the GDP, then there will be a loss of at least 2.4 percent. The global stock markets have suffered a huge downfall due to the pandemic i.e 3,000 points on 16th March 2020 which is the largest-ever single-day loss.

There has been a tremendous fall in demand during COVID-19 and the economic damage increased day by day. The reason for this is that the consumers are not purchasing the goods and services that are available in the global economy. The most impacted industry is the travel and tourism companies because no country is taking any risk and are maintaining social distancing in all the means. 

The companies are also cutting off the staff and also the salaries to make up for the lost revenues. It is because of these dynamics that economists have considered whether the COVID-19 pandemic could lead to a global recession on the scale of the Great Depression.

Economic Forecasts Global Growth 

The economic situation is highly volatile worldwide and for most countries and regions. In an increasing number of cases, companies are postponing investment decisions by dismissing previously employed workers and, in some cases, bankruptcy applications. The economic situation has been further exacerbated by the fall in crude oil prices, which reflects the global downturn in economic activity and the outlook for inflation, while also contributing to the downturn in the global economy through various channels.

In assessing the state of the US economy, the Federal Open Market Committee issued a statement: “The ongoing public health crisis will weigh heavily on economic activity, employment, and inflation in the near term, and poses considerable risks to the economic outlook over the medium term.” 

Prior to the COVID-19 outbreak, the global economy had sought to recover from a broad-based recovery caused by the continuing effects of growing trade protectionism, trade disputes between major trading partners, falling commodity and energy prices, and European economic uncertainty. Impact of the United Kingdom 's withdrawal from the European Union. Each of these issues posed a challenge for the global economy.

Source: Apelo Consulting

Facebook | Instagram | Twitter | Linkedin

#case study for business #kol study for business #market research service #market analysis #research article #apelo consulting

[apeloconsulting]

Market Research in the time of COVID-19

COVID-19 has and is affecting each and every sector badly especially service-based industries which also includes the survey research. Due to this pandemic, several market research projects have been put on hold as they are unable to conduct fieldwork.

The need for data has become very important because fieldwork, telephonic interviews, hall tests, and mall tests are not happening and will not happen. Social Distancing is very necessary, so the research companies are finding it difficult to do a market survey.

Many researchers have chosen to pause the data collection until the economy becomes NORMAL but it might take a long time as per the current situations. So, people are switching their research business to online. 

Due to COVID-19 many brands and researchers have the opportunity to learn about the situations and can ask interesting questions related to the current situation and COVID-19. Everything is going digital, and there is no need to mention that market research service is also included in it. 

Impacts of Switching Methods to Online

Try adapting online surveys because the offline survey is tough and provides results late. And while conducting an online survey, provide a series of randomized questions whose answer must be of Yes/ No.

Things will become quicker as compared to the fieldwork.

The fieldwork takes time and the result of the research might even take months while on the other hand, online research gives results faster comparatively.

No more question-type restrictions

You will not have to face unnecessary questions and you will get answers to the question that you have asked through the online survey.

Conclusion

No one can say about when the vaccination of COVID-19 will be made due to which we are unable to say when this lockdown will end. To continue in this pandemic situation, it is very important for the research companies to invest in the data collection. This data collection will help you in finding the new priorities of the customer.

The research company must also include the strategy of COVID-19 as people are attracted to this topic nowadays. The online survey is the best option during this critical condition and your failing business can reach another level.

#market research service #market analysis #case studies for busiess #kol study for business #research analysis