Marketing research can boost your business

Marketing research can boost your business

You may have heard of marketing research services but aren't sure what they involve. Marketing research is not simply a matter of collecting data in order to process it; it involves complex thinking on what subject matters to pursue, and how to go about finding the right information on them.

Data collection

It may seem simple to decide on the concepts and method of data collection that you will use, but it is in fact a far more complicated process; one must find the right questions to ask and know exactly who to aim those questions at; finding the most accurately tailored market sector to question. After this, the content that is gathered must be analysed and understood, taking into account all aspects of the respondent's feedback in order to make a full and accurate analysis.

Reports

Once data has been fully analysed, a report on said data analysis is then made, detailing a full and accurate conclusion that can be acted upon. These reports generally involve:

Highlights of the survey as well as recommended strategies to follow resulting from the survey, as part of an "Executive summary"

Profiles for each of the participants of the survey, in order to ascertain and ensure that they were fully suited to taking part in the survey

Findings from the survey structured into charts, tables and matrices with accompanying comments; considering all areas of the survey and organised thus

A conclusion section that summarises all the major points found in the survey, so that the reader can concisely see the major points in an instant, should they need to

As you can see, far more work goes into Marketing Research Services than meets the eye. There are various areas of research than can be studied, all varying widely depending on your needs. They include:

Studies on usage of services or products and their attitude to said product or service

Market development, product development, retail development and creative development

The tracking of product or company image and awareness of said image, in order to ascertain progression of the company or product in the market place

Development of strategies, in order to take the brand or company forward

Employee or customer satisfaction levels, to see how well the company is taking care of their employees or customers

Brand research, to define where the brand sits within the marketplace

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