Need and Importance of Marketing Research Process for a Business
Market Research / January 9, 2017

A business may face many kind of marketing problems. It faces complications related to its product or service, price, location and promotion. Other problems that can come in front of a business are product design, packaging, branding, advertising, marketing channels etc. Some marketing problems are very serious and therefore using marketing research as an important tool to solve marketing problems. The Marketing Process helps to get the right product or service at the right place with the right value to the right individual. Besides, it was also essential to go back and find whether customer is getting optimal satisfaction, so that consumer remains trustworthy. Today marketing research is playing a vital role globally and Singapore and UK Clients who are looking at entering Indian market are taking it very seriously. The subsequent points explain the importance of marketing research process: 1. Recognizing Problem and Prospects in the Market: The process helps in recognizing new market opportunities for present and new products. It also provides information on market share, nature of competition, customer gratification, sales performances and network of distribution. 2. Formulating Market Strategies: Manufactures find it problematic to contact customers and control distribution channels and the customer needs are difficult…

An overview on Local and International Market Research
Local and International Market / December 20, 2016

The difference between Local and International Market Research is the significance of the minutest details and the differences in the minutest details that can impact your success. Diverse cultures retort differently to your product and service, marketing strategy and your business. This implies more than modest interest in your product. Some markets may in fact use your product in a different manner than you expect. You need to identify precisely how each of your markets respond to your product, your business, your marketing and other strategies. International Market research will influence everything you can ponder of and more. If you are not warmly familiar with the cultures you are aiming plan for amazements. Domestic Market Research perceives opinions in a specific area. As such, the Local and International Market Research pays close consideration to local and national markets and evaluates such information in context of geographic, salary and cultural considerations for the region. International Market Research consists of steering Market Research in another country or directing multi-country studies. It evaluates cultural differences and commercial factors that stimulus purchasing decisions and opinions. Indeed, the International markets are a turbulent sea of risks and opportunities for many corporations. Choosing to take a…

Using Shopper Behavior Analysis to Find the Right Retailer Mix
Coral Research / December 13, 2016

A Comprehensive Shopper Behavior Analysis is designed to observe, understand and predict how shoppers respond to a retail mix. This is then used to create the optimum shopper experience. As malls and big retail stores become increasingly common on the urban Indian retail landscape, the attention has now shifted on maximizing shopper satisfaction, sales and eventual revenue. The trick is in finding the right retail mix. Since, most big stores now offer the major brands, it is important that we understand how this can be mixed for consumer convenience and satisfaction. Like other research services, Shopper Behavior Analysis has emerged  as one of the preferred tools favored by foreign companies from countries like the UK and Singapore. With their lack of knowledge about the local shopper, research is important for understanding their market and how to create their own space. Studying Attitudes: Attitudes are an important influence on shopper behavior. Attitudes are a mix of beliefs, prejudices, trends and personal experiences. Attitudes are fluid and often change over time. Before we decide on a retail mix, we must understand the prevailing attitudes in a market and how these can be changed to our own benefit. Do people equate stores that…

Where Top Market Research Companies see the Industry in 2017
Market Research Company / December 10, 2016

With technology changing the way research is carried out, it is important that we keep on top of emerging trends in 2017. Top Market Research Companies give us their take. Market Research is a rapidly changing field. Technology is changing the way data is collected and analyzed at a rapid rate. As a researcher, it is important that one stays on top of these trends as they come to dominate the market. As a client, it is equally important to be aware of the top trends when speaking to your researcher. For foreign companies from UK and Singapore, staying on top of prevalent trends in Top Market Research Companies in India is important. Many of these trends are a refinement of older methods. Top researchers see these emerging methods dominating the research landscape in the year to come. Real-Time Observational Data: The truth about research is that people often lie, omit or misrepresent their real motivation. What they say they will do and what they actually do is often different. So, researchers are now entering into respondents’ lives as passive observers to see how they actually behave. Live webcams are used to see how people use a product in their…