MARKETING RESEARCH
Our market research program is consumer-based, helps our clients identify and solve problems and relies on the following techniques:
Brand equity research - Brand name testing
Concept testing - Buyer decision processes
Demand estimation - Mystery shopping
Positioning - Price elasticity
Brand Equity Research: we focuse on how favorably do consumers view the brand?
Brand Name Testing: we try to find out what do consumers feel about the names of the products?
Concept Testing allows us to test the acceptance of a concept by target consumers.
Buyer Decision Process: we determine what motivates people to buy and what decision-making process they use.
Demand Estimation: we determine the approximate level of demand for the product.
Mystery Shopping: one of our employees or representatives anonymously contacts a salesperson and indicates he or she is shopping for a product. The shopper then records the entire experience. This method is often used for quality control or for researching competitors' products.
Positioning: we determine how does the target market see the brand relative to competitors? - what does the brand stand for?
Price Elasticity: we determine how sensitive customers are to price changes.
These techniques are based on questioning and observations.
When based on questioning our approach is both qualitative and quantitative; respectively used for explanatory purposes and to draw conclusions. In the qualitative approach we use small number of respondents, focus groups, in-depth interviews, and projective techniques.
As to our quantitative approach, it tests specific hypothesis - uses random sampling techniques so as to infer from the sample to the population - involves a large number of respondents - examples include surveys and questionnaires.
To request any of these services click here.
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