Importance of Strategic Research – The Whys and Wherefores of Business Results
Strategic Market Research / June 12, 2017

Strategy and planning are crucial to stay ahead of competition and ensure positive results. Research should be able to contribute to the process of strategising. Market research, no matter how scientifically immaculate and precise, is only successful when it can lead to quantifiable business results. Business results, in turn, are dependent on the specific strategies that enterprises make to increase profits. Whether traditional or innovative, market research analysis must then take the form of strategic research so that it can address critical as well as tough research challenges from brand, communications and customer experience to product development, segmentation and user experience. All of these, then, are crucial to create an overall strategy for the business. Strategic research has the same basic steps — to gather accurate data, analyze it for insights, and use those insights to make better decisions. Market Analytics – the capture of all the relevant market data that has been integrated, analyzed, and interpreted specifically to evaluate all your options for growth – is what helps you take decisions on the future course of action – and this is how strategies are made. Market Analytics done under the ambit of strategic research recognizes the interdependence of the…

Strategic Research
Strategic Market Research / April 15, 2017

What’s worked for one business may not be applicable to another, so that’s it is important to discuss business objectives and strategically research core areas of performance. As the name implies, strategic research has to do with ‘strategy’ – the long-term goals, challenges, priorities and plans of any enterprise. Strategic research is important because it helps organisations make decisions that impact the future performance of any organisation. Strategic research is the systematic procedures for gathering, analyzing new information by applying collected data to specific scenarios. While the definition of strategic research specifies a limited number of fields and disciplines, the idea in strategic research is to create a document that balances specificity with several high-level ideas. Strategic research enables organisations and enterprises to also balance priorities with flexibility. These are just a few of the benefits of strategic research: • Prioritise time & budget • Identify new opportunities • Synchronise marketing activity with key seasonal trends or events By setting the course with high-level strategic priorities and by providing a way to see the priorities turned into actions, organisations and businesses will be able to achieve excellence, mobilization and impact required by their mission and objectives. The strategic research plan…

Strategic Research: providing an insight into company’s strengths and weaknesses
Strategic Market Research / April 11, 2017

Strategic Research is an in-depth research helping companies differentiate from its competitors; assessing their own strengths and weaknesses and making the right organizational change for better market visibility and performance. Where does my brand stand vis-à-vis competition? What is its recall value and market share and where is it more popular? Strategic market research helps in answering these basic questions of ‘where the business is’ and ‘where it needs to be’. The market research helps companies understand what drives the market (people’s behavior, attitudes and environment)  and provides an insight into a company’s competitive advantage- as to where, how and when should the business compete. Strategic Research helps estimate a company’s brand value and customer loyalty towards it. One of the important aspects of Strategic Research is the Usage and attitude (U & A) study, which helps in identifying the factors related to usage of a product/service (its frequency) and attitude of customers towards the brand. U& A can have both quantitative and qualitative perspective and help find the best future scenario for planning a market strategy as per company’s objectives. Considering that brand image is very essential in today’s times, the strategic research helps develop and design a strategy…

Studying Usage and Attitudes in Strategic Research
Strategic Market Research / August 30, 2016

As part of strategic research, Usage and attitude studies give us a valuable understanding of brand image and consumer behaviour. Usage and attitude studies or U&A studies are considered to be one of the most important components of strategic research. It gives us essential information about the usage of services or products and customer attitude towards a brand. It can be both quantitative and qualitative. In strategic research U&A studies broadly cover three issues related to the brand: Awareness: How many people can instantly recognise the brand when they see it? How many think of the brand without external hints? Attitudes: How do people view the brand? How do they see it via-a-vis the competition? Usage: Here research tracks the brand usage. Where do people find information on the brand? Where do they buy it? What is its market share? U&A study on brands is not a very frequently undertaken research. This is because people’s attitude and behaviour towards a brand changes over time. A quantitative study gives us the all important figures, a way to measure these changes and usages. A qualitative study, on the other hand, gives us a more detailed insight into the consumer mind and behaviour….