Market research
Table
of contents
- What is market research?
- Why is market research so important?
- What kind of information does market research provide?
- What techniques do we use in market research?
- How do we carry out market research?
- What kind of market research can be conducted?
- Who should use market research?
- Our Clients
- Why choose our offer?
- Market research – Price list
- FAQ
Market research enables description of basic market mechanisms, such as supply, demand, prices. They also allow us to know both consumers and competitors operating on the market. The companies, who decide to carry out market research, receive the information necessary for implementation of successful sales and marketing strategies and for optimising pricing policies. Thanks to it, they can increase their market share and build competitive advantage.
Why is market research so important?
Nowadays, market research is the foundation for a successful business. Quick changes in the environment, evolving consumer habits, high competitiveness require that entrepreneurs make aware and safe decisions. Market research reduces the risk of making inaccurate business decisions and enables creating company strategies, which are tailored to its market potential. This is because market analysis allows us to acquire extensive knowledge on the whole market and its mechanisms, such as demand, supply, competition. This enables us to build an effective strategy for sales, distribution, pricing and promotion, which influence the whole company income.
What kind of information does market research provide?
Market research enables obtaining a range of key information for building an effective strategy for company operations. Depending on your needs, we can focus on all market mechanisms or select just those relevant for you. From market research we can learn, among others:
What is the market size and its development forecast?
What is the market structure?
Who are the key market players and what are their market shares?
Which factors will determine the future of the industry?
How can I segment the market and potential customers?
How to establish market prices? How is price sensitivity shaped?
What will shape future demand on the market?
What is the size of the selected distribution channels?
What techniques do we use in market research?
We use the following techniques in our market research projects:
CATI
Telephone interview
CAWI
Online survey
PAPI
Pen and paper survey
Face to face FGI
Group interviews
FGI on-line
Group interviews
Ethnography
Observation and description
IDI
Individual face to face in-depth interviews
ITI
Individual online in-depth interviews
CAPI
Computer-Assisted Personal Interviews
Dyads, tryads
Small group interviews
User tests
Product tests, consumer’s assessment
Desk Reserch
Desk research, secondary data analysis
MOBI
Face-to-face survey on mobile devices
Eye tracking
Biometric research – tracking the eye movement
Face reading
Biometric research – facial expression analysis
Mystery e-mailing
Mystery shopper – testing customer service via email
Mystery calling
Mystery shopper – testing customer service via phone
Mystery shopping
Mystery shopper – testing face-to-face customer service
Project design methods
Design thinking, iterative design
Motion tracking
Motion capture - XSENS, Vicon, Kinect
Auditorium questionnaire
A questionnaire filled in by a specific group being in the same room
EMG
Biometric research – analysis of micro expression of facial muscles
EEG
Biometric research – brain activity analysis
GSR
Biometric research – the galvanic skin response
How do we carry out market research?
Step 1: Conversation with the client
We start each market study by talking to the Client and confirming their needs with regards concrete information. During these meetings we also identify hidden research needs, of which the Client is unaware, yet they have important impact on the improvement in company operations. During these talks we decide on the scope of the project and its main objectives.
Step 2: Working on the research concept
Obtaining the data needed to analyse the market requires adequate preparation. Within the framework of each project, we work on original research concept considering such choices as: tailored methodology, indicators describing the market, models for estimating the market size, and the forecasts for its development. For many years, we have been carrying out market research for different industries. Hence, our research experience allows us to tailor the research methodology, which reduces the standard estimation error of the obtained results.
Step 3: Research implementation
Once the adequate methodology approach is completed, we commence implementation of the research project. We possess necessary resources to carry out even the most complex market analysis. Furthermore, at each stage, we remain in close contact with the Client, which allows us to implement the project quickly and efficiently.
Step 4: Final report and recommendations
We draft the report in a way that is tailored to the type of Client and their needs. We prepare the text of analysis and supporting visualisations. To each report recommendations on how to implement Client’s strategic assumptions are attached.
Step 5: Consultations
The end of the project does not mean the collaboration has come to an end. We remain in close contact with the Client, as we build the tailored timeframe for further data acquisition, verify the difficulties which might involve additional research. We remain at Client’s disposal for any questions they might have.
What kind of market research can you conduct?
Market research might have a very broad scope. Depending on the Client’s needs we focus on the analysis of the industry as a whole or it selected part. Thus, we can carry out:
general market research (environment analysis),
research of size and potential of the market,
market structure analysis,
product research,
competitive research,
market segmentation research,
price senstitivity research,
research of demand and supply,
foreign market research,
distribution research.
Who should use market research?
Anyone who wants to gain market recognition
Anyone who wants to increase their sales
Anyone who wants to analyse the competition and the market shares
Anyone who wants to understand underlying mechanisms in the market
Anyone who wants to explore market niches
Anyone who wants to gain a competitive advantage
Anyone who wants to launch a new product
Anyone who wants to enter new markets
Anyone who wants to increase their outreach
Anyone who wants to elaborate a development strategy for their company
Anyone who wants to prepare for the future
So far, we have had the opportunity to collaborate with a range of companies, whose goal was to verify the market size and plan their strategy for actions. The research projects we carried out supported the further implementation of these plans and gaining new clients.
Why chooseour offer?
We have been carrying out market research for over 25 years. Owing to the highest quality standards (PKJPA, ESOMAR), professionalism and acquired experience, we take great pride in the high indicator of returning clients.
We will provide you with reliable data coming from research and analysis, which will enable you to make accurate decisions.
We will be happy to answer your questions and suggest research methods most suitable for each individual case. We kindly invite you to get familiar with our full offer.
Market research- Price list
The market research, which we carry out, is customised and tailored to each client’s needs. Therefore, we strongly recommend contacting us, in order to obtain a detailed price list.
FAQ
Market research is an infallible method for obtaining a complex analysis, allowing to estimate current company’s position in a selected industry, as well as its opportunities for expansion and development. Market research provides the knowledge about trends, demand, supply, competitors’ actions, prices of products/services and the potential for growth in a specific industry.
Both, quantitative and qualitative techniques are used in market research. This makes it possible to use the strengths of each of them and neutralize their weaknesses. Quantitative and qualitative methods should be treated as complementary and not competitive.
Market research enables acquiring the knowledge necessary for building the competitive advantage in your sector, which contributes to better financial outcomes of your company. It helps to avoid wrong investments and meet the strategic goals. With this research you build your competitiveness.
The research schedule is discussed individually with each client. However, the average project duration is 5-6 weeks. This can be shortened or extended, depending on the methodology and planned analysis scope.
Due to chaning economic situation, environmental drivers and changes in customer decision making, reflected among others in purchase plans, it is recommended to carry out market research periodically. Our experts will help you build a suitable schedule, based on the characteristics of the industry, tailored to your needs and company’s strategy.
Depending on the needs of our clients, we conduct market potential research, market size research, distribution research, product research, competitive research and market segmentation research. Our multidisciplinary team of experts will help you choose the research pathway optimal for achieving your goals.
The cost of market research depends on adapted mehtodology, characterisits of a target group and size of the research sample. Hence, each time the cost is discussed with the client.
We support all the industries
