Market Research
437
page-template,page-template-full_width,page-template-full_width-php,page,page-id-437,page-child,parent-pageid-538,bridge-core-3.0.1,qodef-qi--no-touch,qi-addons-for-elementor-1.5.2,qode-page-transition-enabled,ajax_fade,page_not_loaded,,qode-title-hidden,qode_grid_1300,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-28.7,qode-theme-bridge,disabled_footer_top,wpb-js-composer js-comp-ver-6.8.0,vc_responsive,elementor-default,elementor-kit-7

Understand Your Brand. Your Product. Your Customers.

Market Research

a

In the current globalised economy, competition between brands, products, and industries has reached unprecedented heights. Full understanding of the business environment is of utmost importance and benefit. Consumers are also growing increasingly savvy, and their views and preferences can no longer be ignored. Thus, for brands to succeed, understanding of what is important to the consumer is crucial.

PROJECT SCOPING

Step 1:
Understanding of Client’s Needs
  • Detailed discussions will be carried out with key management personnel from the client.
  • The key purpose is to find out the questions that the client needs answers to, for example:
    • Price: Do consumers find our product too expensive?
    • Distribution Channel: Are they of the opinion that our products are readily available?
Step 2:
Approval of Project Objectives
  • A list of Project Objectives will be created and sent for approval by the client.
  • The list will include the following details:
    • Key Purpose of Consumer Behaviour Survey
    • Objectives Outline (Interim Questions Outline)
    • Timeframe (Start & Expected End Date)
    • Key Performance Indicators (KPIs)
Step 3:
Establish Research Parameters
  • A set of study parameters will be built, and used as a key basis for the conducting of the Consumer Behaviour Survey.
  • These parameters will include, and not limited to:
    • Participants
      • Age Group
      • Occupation
    • List of Competitors for Comparison
    • Hypothesis that are required for testing

IMPLEMENTATION:

Focus Group

Focus Groups are generally conducted by a facilitator, among a small group of participants, usually between 8 – 10 individuals. In these sessions, participants are asked various sets of questions to elicit their perceptions, opinions, beliefs and attitudes towards a product, service, brand, concept, advertisement, idea, or packaging. Focus Groups can also be used to garner feedback on new product developments.

 

  • Stage 1:
    • Conducting of Background Study
    • Finalisation of Facilitator Guide
    • Confirmation of Participants
    • Confirmation of Venue
  • Stage 2:
    • Conducting of Focus Group Study
    • Collation of Study Findings
    • Analysis of Study Findings
  • Stage 3:
    • Presentation of:
      • Background Study
      • Focus Group Analysis
      • Recommendations Report
Market Survey

Surveys are conducted through concise and straightforward questionnaires, and are used to analyse a sample group that represents your target market. Statistically, the larger the sample, the more reliable your results.

 

  • Stage 1:
    • Conducting of Background Study
    • Finalisation of Consumer Behaviour Survey Questionnaire
  • Stage 2:
    • Conducting of Consumer Behaviour Survey
    • Collation of Survey Findings
    • Analysis of Survey Findings
  • Stage 3:
    • Presentation of:
      • Background Study
      • Consumer Behaviour Survey Analysis
      • Recommendations Report

Want to learn more?

Reach out to us now!