What is market research?
Market research is the process of analysing the market for a given product or service. Although exact definitions vary depending, market research will typically include:
- Research into your target consumer (buying habits, location, characteristics, needs)
- Research into the broader industry (opportunities, threats and trends)
- Research into competitors (primary, secondary and tertiary threats)
Information and data is gathered, analysed and interpreted – this allows companies to understand and act upon the research.
How do we research?
Before we begin researching, we meet with you to establish your goals and the type of information you need to achieve those goals. We’ll also work out the scope of our research and discuss our pricing with you.
During the gathering phase of our research, we utilise primary sources and both publicly-available and internal secondary resources to accumulate data and information. Depending on the scope and nature of the research, this may include:
- Non-privileged internal communications
- Interviews with existing customers
- Surveys directed at target consumers
- Interviews with front-facing employees
- Online sources, including reliable government and third-party information-gathering sites
Once the data has been gathered, we analyse the results to identify trends, before putting these into a report which includes our interpretations and recommendations.
Pricing is dependent on the nature of your request. To schedule an obligation-free meeting, contact us at: firstname.lastname@example.org or 1300 617 334.