3 Types of Factor Analysis

Market research and analysis of large volumes of data are necessary when it comes to analyzing and determining the right market segment, potential demand, and potential areas of competition, product development requirements and all other facets of the business marketing portfolio. One of the most common tools used to deal with the vast amounts of data is Factor Analysis. Continue reading

Improve Your Customer Surveys

It is vitally important for you to take every aspect of your business seriously. If you don’t, the product you provide will decline, your customers will look for other companies and you’ll eventually fall out of business.

Because of this, it is important to know every inch of the company. Every aspect that is both visible to the customers and visible to only those working for the business. Although there are internal checks you can perform, the best way to understand how outsiders perceive the business is through customer surveys. Continue reading

Aligning Customer Research with Business Objectives

Customers should be should be at the forefront when decisions are made regarding a company’s products and services. Businesses that are customer-centric are shown to have more success than businesses that are purely profit driven. As a market research manager, it is good to be close to your buyers. Continue reading

Making Use of Qualitative Research

When it comes to business, qualitative research revolves around exploring trends and understanding various issues relating to marketability of a firm’s products or services.

Any sound business strategy should be backed by thorough market research. Otherwise, just guessing may not help market research managers identify the demand for a firm’s products or services. While guesswork can sometimes help you to establish the market demand for your products, you might not be so lucky at all times. Continue reading