In depth Market Research Services
In depth Market Research Services
Types of Surveys
Online Market Surveys
Online surveys are accessible to any participant across the globe, providing they have an internet connection, which is the easiest thing to do nowadays. We can create online surveys using survey platforms and distribute them via email using a link, or respondents can go directly to the online survey and complete it. This makes the process far less intrusive and less rushed since people can do so on their own time and by their own volition.
Online market research can be either qualitative or quantitative and follow the same format as primary and secondary market research methods.
We provide the ability of high accuracy in targeting, for our surveys. Targeting can be about gender, age, province and interests.
In face-to-face surveys are great opportunities to get more insightful and valuable responses from participants. You can find out why they think and feel the way that they do, providing an unbiased view of a subject or issue. However, they require more time to set up and gather data.
Telephone surveys involve asking respondents a series of questions over the phone. It’s a popular survey method as it’s convenient for researchers. Researchers may need to invest time to set up interviews with participants and take notes during the process.
Data can be used to answer questions and support decisions in several different ways.
Decision analysis is the art and science of formal decision making. It’s often employed in making business decisions and uses specific methods and tools to identify and assess factors, risks and possible outcomes to reach optimal decisions. Businesses today need every edge and advantage they can get. Thanks to obstacles like rapidly changing markets, economic uncertainty, shifting political landscapes, finicky consumer attitudes, and even global pandemics, businesses today are working with slimmer margins for error.
This strategy is common sense, and it applies to personal life as well as business. No one makes important decisions without first finding out what’s at stake, the pros and cons, and the possible outcomes. Similarly, no company that wants to succeed should make decisions based on bad data. Organizations need information; they need data. This is where data analysis enters the picture.
Business analytics refers to the skills, technologies, applications and practices for continuous iterative exploration and investigation of past business performance to gain insight and drive business planning.
Business analytics makes extensive use of data, statistical and quantitative analysis, explanatory and predictive modeling, and fact-based management to drive decision making.
Qualitative Market Research
While quantitative research can reveal hard data about the state of a business, qualitative research aims to explain the factors that led to that state. Qualitative market research focuses on the reasons and motivations behind customers’ behaviors, opinions, desires and expectations. Companies can use qualitative market research to gain actionable insights on how to improve their strategies and products.
Quantitative Market Research
Quantitative Market Research is a technique to ask questions to the target audience in an organized manner using surveys, polls or questionnaires. Received responses can be analysed to make well-thought decisions for improving products and services, that will in turn help increase respondent satisfaction levels. Well-founded results can be achieved in case a large sample size that represents a population is surveyed.
Quantitative market research focuses on the quantity and structured collection of data. It began with face-to-face techniques and now has evolved into online surveys. It is often used to capture data like customer behaviour, size of the market, identifying reasons for product repurchase. This type of market research is usually based on a large number of samples.