INSIGHTS THAT MATTER!
Market research often requires extensive effort to locate information and raw data that can be assimulated into a strategic plan of attack. First understand the market, then talk to your customers to determine their wants versus needs along with benefits that will cause them to write you a check.
SECONDARY MARKET RESEARCH
Understanding the market place itself is critical to the success of your products and service offerings. Marketers typically gather information such as:
- Identifying the Industry you will serve
- Seek out general industry information
- Identify trade associations, publications and tradeshows
- Learn more about the consumers of the product/service
- Examine patents and trademarks, copyrights
- Determine legal issues
- SWOT Analysis (Strength, Weaknesses, Opportunity, THreats)
- Competitive analysis and landscape
- Market data on specific brands and industry leaders
We go way beyond this with over 22 different categories included in our market research efforts. Call us today to learn more about our exhaustive efforts to ensure we have the right combination of data to develop strategies, goals and action plans for success.
Marketing done right will presell your product and services before you even launch your business development and sales efforts. Great research will yield tremendous results, garbage in will give you garbage out as you throw away your money after the next “greatest”way” to reach your customer.
RIGHT MESSAGE USING THE RIGHT MEDIUM REACHING THE RIGHT AUDIENCE (MASSES) IS THE KEY!
PRIMARY MARKET RESEARCH
Understanding The Who, What, Why, When, How and Needs of your customers
We start with people’s wants and needs, not products or perceptions. A good market researcher relies on facts and figures along with intuition that is curios about what people need versus want. We start our strategic planning from extensive research to understand the marketplace and end user desires. Before we make connections to products and brands, our marketing researchers first dig into consumers’ lives, needs, values and aspirations. With a laser focus on people first, we uncover the insights that drive meaningful connections.
Measuring Quantity To Define Successful Marketing Programs
Quantitative information or data is based on quantities obtained using a quantifiable measurement process. In contrast, qualitative information records qualities that are descriptive, subjective or difficult to measure. As a social research method, it typically involves the construction of questionnaires and scales. People who respond (respondents) are asked to complete the survey. Marketers use the information to obtain and understand the needs of individuals in the marketplace, and to create strategies and marketing plans.
Qualitative marketing researchers is exploratory research that gains customer’s opinions, perspectives, desires and buying habits relating to a product or company, this data is collected through smaller samplings such as:
- focus group
- case study
- participation observation
- innovation game
- individual depth interview.
Qualitative Market Research is used to build insight into the wants and needs of customers that can then be measured using Quantitative methods. Quantitative Market Research is asked closed answered questions gathered from large samplings, and then using statistical analysis to measure the responses, typically includes:
- Target Customer Profiles
- Customer Satisfaction Surveys
- Telephone interviews
- Face to face interview
- Online polls
- Kiosk surveys
- Systemic observations
- Mobile surveys
- longitudinal studies
- website interceptors
What can marketing research tell you?
- What customers or prospects think and feel about your product or service
- How customers choose between different products or suppliers; what motivates them
- How branding, design and packaging influence customers and in what way
- What sort of marketing messages have the most impact and what turns customers off completely
- How price affects their decision-making
- Whether there is demand for a new product or service
Market research is often part of survey methodology, including telephone surveys and consumer satisfaction surveys and then data mine the information. We apply the market research when:
- New product idea generation and development
- Investigating current or potential product/service/brand positioning and marketing strategy
- Strengths and weaknesses of products/brands
- Understanding dynamics of purchase decision dynamics
- Studying reactions to advertising and public relations campaigns, other marketing communications, graphic identity/branding, package design, etc.
- Exploring market segments, such as demographic and customer groups
- Assessing the usability of websites or other interactive products or services
- Understanding perceptions of a company, brand, category and product
We provide you a turnkey, strategic marketing program that will help your business development efforts become successful.
Insights into your potential customers helps you gain ideas for new products, branding and strategy through creation of your marketing programs. This is the most crucial stage in the development of your marketing and often them most overlooked.