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…

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…

When to Hire a Market Research Agency
Market Research / December 6, 2016

For small businesses, the decision to hire a Market Research Agency is usually calculated carefully. One must consider the scale of operation as well as company needs when making the decision. In a competitive economy, businesses need every help they can get. Market research has emerged as an indispensable tool in this scenario. It gives us valuable data on consum-ers, market conditions, channels as well as the competition. This is data that can be used for a multitude of organizational functions, such as marketing, communication as well as ad promotion. For many small businesses, however, the decision on hiring a Market Research Agencies is not always easy. Lack of funds often stops such businesses from making this extra out-lay. So, how do you decide if you are in need of an agency? How can you hire an agency with a minimal budget? The decision to whether or not hire a market research agency depends on the scale of your operation as well as your budgetary constraints. In some cases, it may be essential, such as in the case of companies from countries like UK and Singapore entering the Indian Market. But here is a simple test to gauge your need…