Market Research Methods
Lying behind all of our industry sector and research experience is a firm understanding of how to do research.
Often, conducting successful and effective market research studies involves a grasp of two very different demands:
- "How do we get this done?" - The practical demands of conducting research in niche and diverse markets
- "What are the best tools for getting the results we need?" - Using innovative and established research techniques to ensure market intelligence delivers real return-on-investment.
This section is devoted to the latter: Choosing and using the appropriate tools for successful market research.
It should come as no surprise that we've picked up a thing or two in conducting thousands of bespoke market research studies. A little of what we've learned is shared below:
Infographic: Power and influence
Which information sources are the most effective for customer advocacy? Is a webinar more trusted than word-of-mouth? See which sources rank where in this guide to power and influence.
Infographic: Turning a profit
To increase the efficiency of a product life cycle, market research should be implemented at each stage, starting from pre-birth, right through to old age.
Infographic: Hit the bull’s-eye
B2B advertising is usually characterized by an emphasis on rational selling points. But in the end, success comes down to delivering an appealing message to the right audience.
Book: Interviewing
An awareness of consumer needs and tastes is crucial to the success of all businesses, yet many fail because they are out of touch with what their customers really want. It is, therefore, fundamental that the market research interviewer has the right skills to extract the most relevant information via the most diplomatic...
Book: Sampling And Statistics
Almost all valuable market research is conducted using samples, which makes the areas of sampling and statistics key to the market research function. Unlike the complex and highly specialist volumes available, Sampling and Statistics provides a basic, yet comprehensive and highly practical, guide to the important...
White Paper: Forecasting & Scenario Planning
White Paper: Online Focus Groups As A Business-to-Business Research Technique
White Paper: Using the Focus Group in Market Research
White Paper: How To Get Information For Next To Nothing
Article: Differing Needs – How Companies Source Research Agencies In China
As the global economic recovery continues, an increasing number of companies and organizations are commissioning research on the Chinese market. With a growing number of companies beginning to recognize the commercial importance of establishing a more detailed understanding of the Chinese market, the prospects for b2b...
Article: Entering China
It is tempting to talk of ‘developing markets’ as a homogenous group characterised by rapid growth, low cost labour, inequality between rural and urban areas, and a rapidly growing middle class. The danger of this approach is that the substantial differences between countries such China, India, Brazil and Russia can be...
Article: Innovate or Die – Create Powerful Customer Insights
We are now over half way through 2011 and hopefully you are reading this with your company having survived one of the deepest recessions in history! However, there has been a lot of talk about the fear of a double-dip recession (one in three Finance Directors believe the economy will fall back into recession,...
Article: How To Make Sure That Research Delivers Action
Market research is an extremely valuable tool to have at your disposal but only if the results of any research study are used in an intelligent way. In this article, we offer some tips on how to get the most out of your market research. Calculating ROI – the scourge of market researchers The t...
Market Sizing: Is There A Market Size Formula?
Two key questions unlock the door for the strategic plans which marketing directors have to prepare on any product or division within their company. These are: Where are we going (with the product/division)? How are we going to get there? In order to answer these...
Article: The Differences Between B2B And B2C Research
The two disciplines of b2b and b2c market research, though employing many of the same research tools and techniques, both have very differing requirements, traits and skillsets. In this short article, we outline some of the core differences between b2b research and b2c research: A Different...
Article: Focus Groups
Focus groups have been refined over many years by consumer researchers, who in turn borrowed the tool from the social sciences. They comprise a small number of carefully selected people who, under the guidance of a leader, discuss a subject. In industrial markets, researchers may have to accept that it is...
Article: Market Sizing In China
One of the main objectives for many companies when carrying out research in China is to establish the size of the market. Market size information can be used to gauge the overall size of the opportunity, to prioritize segments of the market for special attention and to inform future product development and marketing...
Article: The Questionnaire In Postal Research
This article looks at some ways of maximising the response of postal research - and its practical value. A successful postal survey is one which achieves an accurate and high response. The design of the postal questionnaire is the key to that achievement and it requires the researcher to put herself into the...
Article: Postal Surveys In Industrial Marketing Research
Postal surveys have a very bad image, so much so that by far the majority of industrial marketers dismiss them as being inappropriate as a research technique. There are two reasons for this view. First, most postal questionnaires end up in the waste bin and this implies that whatever response is generated comes...
Article: Dispelling Market Research Myths
This article aims to look at some of the myths surrounding the discipline of market research and set the record straight on some common misconceptions. Market Research Is An Exact Science There is no denying that techniques used in market research are drawn from science. There should, for...
