Consumer Research Services: helping better understand your target customer
Consumer Research / April 27, 2017

Consumer Research Services help companies gain an insight into a buyer’s mind, understand their preferences and buying behavior for their product and services, in turn helping deliver an enhanced value. Staying ahead in today’s competitive scenario requires a deeper understanding of your customer and consumer research services provide a systematic collection and evaluation of data regarding customer’s needs and motivations towards a particular product or service, helping chart out better marketing strategies. With the ever expanding marketing and technology scenario, explosion of data and fast pace of digital marketing; these consumer services have become an integral part of a company’s short and long term strategy decisions. The consumer research services can help businesses understand their consumer’s perceptions, buying habits, expectations and shortcomings with their product or services, compared to competition, leading to better optimization. It also helps companies understand the effect of market variables on their products and is very helpful for providing an insight before the launch of a new product. Since the research is customized with focus exclusively on consumers, it is a much faster with cost-effective solutions and precise and objective results, making it much preferred choice for today’s businesses faced with ever-changing and growing demands of…

India market entry strategy: devising your unique formula to make an impact
Market Research / April 5, 2017

India today is one of the most lucrative investment destinations with a high consumer spending capability and a favorable business environment necessitating a well-researched India-specific market entry strategy to make an impact. The growing economic influence of India coupled with a conducive work environment, availability of low cost skilled labor and increased spending power of today’s generation has seen many foreign players vying to make investments in India. But, before formulating an Indian market entry strategy, its uniqueness needs to be understood. With more and more cities coming under the Smart city projects, increased communication and improved infrastructure and integrated development, India offers a perfect investment opportunity. India also has a greater advantage as it serves as a gateway to other Asian countries thus in turn requiring a meticulously planned India market entry strategy. Experts point out that due to the sheer size and immense diversity in the region, language, culture and economic standards of the Indian population; one single India market entry strategy doesn’t fit all. In addition, the global business models and practices of multinationals cannot work in totality in the local environment. The need is for multiple marketing strategies as per the target groups with a deeper…

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…

Market Research Qualitative – Making It Truly Qualitative

Adopting a consultative approach to qualitative market research is integral to introduce new thoughts and fresh ideas, enabling result-oriented research. Consultation techniques can help make market research qualitative.  Qualitative research focuses on an unstructured and flexible approach to understanding markets that explores people’s views, behaviours, perceptions and motives in a deeper way. The strengths of qualitative research lie in its ability to get below the surface, seeking to understand the underlying causes, the rationale behind issues and their relative importance. Increasingly, qualitative market research is undergoing transformative changes as service providers and businesses seek to get into the minds of the consumers. Online qualitative market research is fast replacing the traditional qualitative methods. As a supplement to qualitative market research, a dedicated consultation area can be used in the form of an e-consultation technique – not just for collating data, but also for scouting and sourcing opinions. Consultation documents are often used to gain feedback on proposals or draft strategies. These often form part of a wider consultation strategy including specific meetings, workshops, discussion groups and so on. Consideration should be given to the target audience when designing the document. All consultations can be added to the search database, so…