Why Market Research Consulting is Vital in Product Development

Timely, well-planned and executed market research consulting can be critical in product development. It aims to demystify the market mindset and the required changes for optimal growth. Product Development usually encompasses two aspects –– launching a new product or bringing improvements to an existing one. It can be seen as the natural cycle of any product –– from its launch to its old age. In the context of today’s ever changing market, planned product development is not a marketing fad, but a critical requirement. Market research can play a crucial role in product development. Big companies spend millions of dollars through their R&D departments for just this purpose. Market Research Consulting is another affordable alternative. But first let us see how a consultant can help in product development. The idea Research must begin even before the launch of the product. Though some products may come into existence as accidental discoveries/inventions, for other more planned product launches an initial research is essential. A consultant will research on market expectations. What do people want? Are there any unmet needs in the field that can be plugged by the new product? Where a new product idea already exists, the market research will focus…

Market Research Consulting – An Important Success Tool For Every Business
Market Research Consulting / August 22, 2015

Market Research Consulting is critical in today’s competitive world – with many MNCs entering the Indian market, aiming to increase their market share and raise their profit percentage. This has obviously given tough competition to the Indian entrepreneur to improve their products/services in the market and be at par with their competitors. After joining Coral Research Services, a , I understood that merely producing best quality products / services will not increase the market share of a company. That is, of course, the bare basic thing to do. Besides the obvious, targeting the right consumer for their products/services, creating positive image of the company / brand in the consumer’s mind, understanding market trends, presenting / advertising products & services to the targeted consumers in such a way so as to reflect the benefits desired by them – all are important factors that determine the success of a particular product / service. In the long run, these help in the growth and stability of a business organization. Thus, for finding out all the above said things, it is very important to do market research from time to time. I must share the various type of research that I have come across…

A Transformational Marketing Strategy can change your Brand’s Growth Trajectory
Product development / July 17, 2015

A marketing strategy research, analytics, and research company can help you move your brand from where it currently stands to where you want it to be.  From market research in emerging economies or periodic tracking of competition to an enterprise-wide ‘Research Helpdesk’ solution or template driven analytical reports for senior management – Marketing Research Consultancies are engaged for a range of customized research needs, some that are simple or routine tasks and many that are complex in nature such as market analysis, feasibility reports or business plans. Organisations deploy Marketing Research Consultancy for senior level research to: Shape strategy and drive profitability by deploying full array of Research Tools. To understand and help build brands and thereby guide brand positioning In-depth understanding of consumers and the markets within which you operate To help explore and establish the potential for competitive advantage To help ensure their fitment for purpose in changing and competitive markets. To monitor their progress and thus, help to achieve their business objectives To establish best practices for research/insights and get maximum leverage from limited resources Points to be remembered while choosing a Marketing Research Consultancy: Relevancy of team of analysts and their domain experience Project Manager with…