Does your company fully benefit from market research?

Market ResearchMarket research is crucial to your business. You need to know things about your customers in order to target them and keep them returning. Three questions to ask yourself include: “Who is my customer? What do they want?” and “Why did they buy my product?” Here are some tips to fully benefit from market research. Continue reading

What can the right marketing data do for your company?

With all that marketing data available you Easy Targetwould think that every company would be successful; unfortunately, sometimes they miss the mark. Chances are they weren’t getting the right marketing data or they misinterpreted what they had. Let’s take a look at two technology related companies. One that read the data right and one that missed the mark.

Apple, Inc. has created brand loyalty and great success through their marketing campaigns and product development. They have been able to do this for two reasons. Continue reading

Building Solid Business Strategy Through Market Research

Market Research

As a leader within your organization, are you leading with data driven decisions? Or are you basing your overall business strategy on your “gut” or your previous experience? Don’t do that. It’s better to build a solid business strategy through market research. Here’s why: Continue reading

Designing Effective Customer Satisfaction Surveys

When customers want to feel effective, they can be motivated to take customer research surveys. The easier it is to do this, the more likely they will be to fully comply. The more compelling the invitation to participate, the more likely it is you will get the results you need.

Just as surveys give information that improves results, surveys that follow specific guidelines have more chance for capturing the necessary information. Design template choices can be pivotal for specific results. As with most things, the simpler it is to comply, the more likely it is you will get your needs met.
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Approach Market Research with Deduction or Induction Reasoning

As a corporation or individual, it is important for you to excel in your business. For you to succeed you need to know factors that affect your enterprise. The market research process should include gathering information about your competitors’ activities, consumer preference on product or services, product placement and many marketing issues for analysis. Continue reading

Practical Uses of Factor Analysis

Factor analysis is what every business needs to get the most from their operation. Examining statistics allows you to dissect variables such as demographics and target consumers. By breaking down the key factors, you can tweak processes to create the most effective channels and strategies. Put simply, factor analysis takes the guesswork out of budgeting, advertising and even staffing. It is a practical tool created through successful market research and analysis in any industry. Continue reading

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