Market Research

BUSINESS COMMUNICATION - LEADERSHIP - CAREER TRANSITIONS

ASSESSMENTS - MARKET RESEARCH

 

There are many different reasons for using Market Research services, the following being among the most common:

  • Developing or reviewing marketing and business plans
  • Determining the strengths and weaknesses of your own and/or competitors’ brand image
  • Investigating customer, client or member satisfaction and loyalty
  • Reviewing employee (management and staff) attitudes
  • Appraising your senior management team
  • Monitoring your, and competitors’ sales, through the distribution network
  • Developing new products or services
  • Developing a PR/advertising campaign and monitoring its effectiveness
  • Assessing the size and structure of the market in which you operate
  • Considering entering a new market sector or country
  • Developing new pack designs
  • Evaluating the results of a test market
  • Company acquisition decisions
  • Assessing the strength of the competition

The methods used to obtain the information you need, will depend on your reasons for needing it, i.e. the specific business activities that you are planning to develop and the decisions that you will need to make.

 

It's a bit like playing golf. Golfers carry a bag full of clubs, and club selection for each particular shot is crucial to the success or otherwise of the shot.

 

In the same way, Market Research professionals have a variety of methods at their disposal. It is the selection of the most appropriate method that produces the best information upon which good business decisions are based.

We are able to provide our clients with the three main types of Market Research namely:

 

Desk research: an investigation of ‘secondary’ sources, often available in the public domain. These can be found on the Internet, good business reference libraries, public sector publications, trade journals, national press feature articles, local authority planning departments, relevant trade directories and many others. The value of carrying out initial desk research is that it often highlights the information gaps that can only be filled by primary or ‘original’ research such as focus groups and sample surveys.

 

Qualitative research: small-scale survey work involving focus groups or individual in-depth interviews. The objective is to determine the full range of attitudes, opinions and motivation of respondents in order to develop hypotheses, which can then be validated or otherwise through a larger scale quantitative sample survey. Qualitative research also provides essential information that is needed in the development of the questionnaire for sample surveys.

 

Quantitative research: a measuring tool designed to quantify human behaviour in the market place. It comprises sample surveys, for which the samples are determined by a number of factors, e.g. the size and structure of the ‘universe’ from which they are drawn, the degree of data reliability required, the size of the smallest important sub-group in the sample from which you need data, and - the size of your budget.

Any of these three main methods can be applied to business-to-business and business-to-consumers projects, which can range from very small, local investigations to global studies.

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MARKET RESEARCH