Planning and conducting market research is a critical component of any business. It provides decision-makers with important information to determine the direction of the company, launch a new product, or keep tabs on what competitors are doing. Conducting market research helps to identify those areas. It also empowers businesses to discover and understand their customers’ needs so they can innovate more effectively, expand when the time is right, and work with more focus.

Why is market research important for businesses?

Designed and used correctly, market research is a powerful tool to minimise the risks involved when making important business decisions. Market research can significantly improve marketing strategies as it provides actionable insights and information to the business. It provides a deeper understanding of customers and competitors.

What is market research?

Market research is a systematic collection and analysis of data about the market. This capability is an integral part of any business that wants to offer products or service that are focused and well targeted. Correspondingly, it influences business profits and delivers the best return on marketing investment.

Planning and conducting market research is one of the key responsibilities of marketing departments. Virtually anyone can do some form of research, but not everyone has the training to set up robust studies or draw inferences that are statistically sound and possess the credentials to be taken seriously by policy makers and the public.

Market research is an evidence-based tool for making better decisions.

Market research is an evidence-based tool for making better decisions.

We use qualitative and quantitative research methods to collect and analyse both primary and secondary data. Our research offering includes:

• Product research: The success of a product depends on how customers and consumers perceive it. Product research is invaluable before a product launches and useful post launch for further development. Eg. Product feature usage, product brand alignment, product marketing etc.
• Brand research: Creating, managing and investing into a brand provides competitive advantage. Eg. brand identity, brand values, brand voice, brand extensions, brand architecture, brand positioning etc.
• Customer research: Understand factors that affect customer behaviour and how businesses can use the findings to adjust existing practices and improve sales outcomes. Eg. Customer satisfaction, customer segmentation, customer journey mapping etc.
• Competitor research: Evaluate competitor strengths and weaknesses in relation to the business and the market it serves. Eg. SWOT analysis, audit competitors’ marketing mix, monitor competitors advertising activity, gauge customer loyalty and product preferences etc.