Qualitative Market Research: providing a better insight into consumer behavior

Qualitative market research helps you have an inside look in your consumer’s perception and behavior towards your product/brand, helping improve your future decision making leading to better return on Investments (RoIs). Qualitative market research is the unstructured or semi-structured way of data collection and analysis of a consumer’s lifestyle behavior, and in-depth research of ‘why’ a consumer behaves in a certain way. It helps in future decision-making of an organization. The research entails detailed interviews, participation observation, using innovation games, group discussions and case studies. Qualitative market research is often used before the introduction of a new product idea and its development; when exploring new markets/demographics/customer groups; to assess the strength and weaknesses of a particular product/brand; for product positioning and marketing strategy, company/brand perceptions or assessing the reaction to a mass communication campaign – giving the qualitative research a wider usage scope for any type and size of an enterprise. Due to complexity of data, Qualitative research uses small group of people with similar set of characteristics (like backgrounds, attitudes/nature and demographics) and a predetermined topic. But organizations should be careful to as qualitative market research is more dependent on the skills of the researcher. Considering that there is…

Strategy Consulting Firms: providing a competitive edge to Indian organizations

Every organization wants to achieve a competitive edge and that can only be done through a key differentiating factor which a strategy consulting firm with their expertise can help determine and accomplish. So, what exactly does a strategy consulting firm do? The Strategy consultants help identify and analyze the core problems of an organization, the resources available and advice on the future goals and decision-making process. They often provide long term sustainable solutions after evaluating an organization’s capabilities and the available market opportunities. Many may ask why organizations need to hire an outside agency and why can’t they do it themselves considering the higher cost involved? Most of these strategy consultant firms have a deep understanding of the industry and an expertise on both small and large scale enterprises helping them address a wide variety of issues suitable for different industry sectors, governments, academic and non-government institutions or individuals etc. These issues can vary from strategy, finance, sales and marketing, technology, operations, mergers and acquisitions to performance improvements. The strategy consulting firms can provide dynamic, interactive and flexible workable solutions with a better analysis and perspective of risk involved and changes required. Henry Mintzberg, an internationally renowned academic and author…

An overview on Custom Market Research Services in India

Custom Market Research Services provide customers with the exclusive information they need to stay ahead of race in today’s fast paced business atmosphere. For instance, instead of wanting the comprehensive market analysis, as a business you could just want to know how well your specific brands are doing in the marketplace. What is the thing absent in these products and what can be features added for improvement? For such a drive, the best option is custom market research services. As the name suggests, custom Market Research Service customizes their role as per your requirements. Thus, initially many market research firms start as custom market research services in India and then move on to syndicated market research service. Custom research offers a personalized method for researching niche topics. For example, if a company wants to acquire information about snack bars, outside their traditional brand shares. They also want to look at product designs and enhancements to see if it is possible to upsurge sales for the brands and the overall category. This kind of information would call for a custom research project. Singapore and UK clients who are looking at entering Indian market take help from Custom Market Research before launching…

What are the Key Benefits to Hiring a Small Business Strategic Consultant?

Strategy consultants are experts that specialize in helping organizations to realize their most persistent questions. Strategic consultants typically work closely with the management and executive team to evaluate the current status of the business and its marketplace to develop strategies for growth, set workable goals and strategies for their attainment, and then streamline your systems to accommodate that growth and the changes that come along with it. Here are the benefits that an expert strategic consultant can provide in your business: A Clear and Unbiased Perspective – The investment in a Strategy Consultant Firm is an important decision for your growing business. Originality, creativity and an “out-of-the-box” point of view may be just what is needed to create the right solutions. Contributing fresh, new ideas – A solid Strategic Consultant should have the aptitude to bring a new perception and engender new ideas that you haven’t already been bearing in mind for your business. Their specialty and proficiency should contribute go-ahead new approaches to what you’ve already laid out on the drawing board. Diplomatic, But Provocative Approach – While you certainly don’t want to create struggle in your organization, the ability to ask the challenging question and provide a support…