How to Choose the Right Market Research Agency
Market Research / June 27, 2016

Getting accurate research results depends on the market research agency you hire. So, keep in mind some simple factors when making your selection. Whether you are entering a new market, launching a new product or simply want an evaluation of your performance, hiring the right market research agency can make all the difference.  But, in a market teeming with research agencies, how do you select the right one? Remember, every business is different. Hence, what suited others may not suit you. So, you need your own evaluation to decide on the right agency. Once, you have whittled down your shortlist according to recommendations, budget and availability, these are the other factors that you must look for: Experience: No business wants to be the guinea pig on a research firm’s learning curve. But it is not necessarily the firm’s experience that you must look for. Ultimately, it is the team that works on your project that matters. So, even if the firm is comparatively new, your team may have the requisite experience. Responsiveness: It is important that the firm you hire listens to your concerns and suggestions. While they are the experts, it is ultimately your project and your concerns must…

4 Ways Data Mining Helped Market Research And Analysis Services
Market Research / June 17, 2016

The inflow of big data has created a sharp need for data mining tools in market research and analysis. Among its many applications are market segmentation, forecast, affinity and merchandise analysis. The biggest trend of 2016 in market research is the inflow of big data and the use of data mining tools to interpret it. To put it plainly, big data is the massive amount of information, records, data and facts that is today flowing in through multiple tech and non-tech tools. Data mining gives us the means of working this data — finding sense and patterns from this overload of information. It has completely changed the face of market research and analysis services. Today analysis is more comprehensive, efficient and accurate because of efficient data mining services. Market segmentation: The most obvious use of data mining is the segmentation of the market according to class, gender, occupation, age or geography. The numbers here tell their own story, giving a detailed profile of the consumer. This analysis can then help in targeted sales and promotional drives. Forecasting sales: The buying patterns can help us predict future sales. Records show when maximum sales occur — the time as well as the…

Difference between Marketing and Market Research

Marketing and market research are often used interchangeably, but are actually focused on different areas. Together they give us a complete picture of the market and the company’s own performance. Although marketing and market research are used interchangeably, they are not actually the same. While there are some overlaps between the two, there are also distinct differences. Most competent agencies will offer expertise in both. In fact, in today’s competitive world a business needs to carry out comprehensive research in both fields. The main difference between marketing and market research is that while the former deals with marketing processes, the latter studies market movements. Let us explore both in detail: Market research Market research is the study of markets or consumers. It provides us with comprehensive information about the market, its size, trends and the competition. The different areas that are studied under market research are: – Market trends: There are many factors that influence the trends in any given market — politics, social, economy and even technology. All these factors often work in tandem to being in different trends. Today these trends are changing rapidly. – Competition: As our markets become more global and open, the competition is bound…

Market Research Agency – Multi-tasker with Multiple Identity

What is a market research agency and what does it do? What are its goals and objectives? What must it do to engage people? A market research agency may offer qualitative research, quantitative research, or both, and increasingly consultancy services, workshop facilitation and so on. Within the category of market research agencies, The professional function within market research that handles respondent recruitment project management and quality. Usually treated as a specialist activity, this function may be carried out by a department within a market research agency or by an external specialist field agency. A freelancer researcher or a small market research agency may also operate independently from larger agencies, often working on their own or with at least one other. The bonus from the client’s point of view is that they can be brought in on an ad hoc basis, and may provide specialist skills. People are used to an ever-changing landscape of creative and expressive tools in the digital world. So the emphasis is clearly on innovation in technique that is able to bring more valuable insights into market research. That is what a good market research agency needs to aspire for. This is not just important to single them…