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Internet Market Research: Using Paid vs. Free Information

Posted by Robert Kaminsky

Jan 11, 2017 8:45:00 AM

The internet remains a great source of free information for people to use on a daily basis. You can find the answers you need on a wide variety of topics, and you don’t even need to leave your desk or make a phone call to get it.

In the current environment where fake news sites are popping up all over, it is more important than ever to decide what business information you can reliably obtain from the web and what you are better off purchasing from a professional publisher of market research.

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Topics: Market Research Strategy, How To's

4 Essential Attributes of Successful Researchers

Posted by Sarah Schmidt

Nov 9, 2016 8:30:00 AM

What core skills should researchers build in order to excel? How can researchers stay relevant and impactful long into the future, as technologies continue to evolve?

A variety of thought leaders in the marketing and research sectors shed light on these questions in the new report Towards an Insights Driven Organisation from the MRS Delphi Group.  

According to the report, a passion for the customer and rigorous objectivity are just baseline skill sets. Researchers of the future must also develop the following attributes and abilities.

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Topics: Market Research Strategy, How To's

7 Popular Sources for Company Information and Research

Posted by Sarah Schmidt

Sep 22, 2016 8:30:00 AM

Industry executives, consultants, and sales professionals often need accurate, up-to-date information about a company for a variety of business and competitive intelligence goals, such as:

  • Understanding a company’s financial health and key business segments
  • Identifying and qualifying potential customers, affiliates, and suppliers
  • Searching for investment and acquisition targets
  • Capitalizing on a competitor’s weaknesses
  • Increasing sales by understanding a clients’ businesses better
  • Tracking corporate news such as restructuring, business expansion, and contract wins
  • Accessing key employees to initiate business deals
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Topics: Market Research Strategy, Market Research Provider, How To's

Changing the Relationship with Your Market Research Supplier/Client

Posted by Zontziry Johnson

Sep 8, 2016 8:30:00 AM

Market research clients and suppliers have what seems to be a long-standing relationship where each wishes the other would just be nicer, faster, and more realistic. There often seems to be tension between the two sides when it comes to schedules, deliverables, decisions, and even resource capacity. This tension ends up manifesting itself in internal discussions on the client side, “I have no idea why it’s taking them so long to get me my data,” and on the supplier side, “They’re being so unrealistic with their schedule!”

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Topics: Market Research Strategy, How To's

3 Common Thinking Errors That Hurt Your Business Strategy

Posted by Sarah Schmidt

Jul 21, 2016 8:30:00 AM

Corporate professionals and entrepreneurs aren’t immune to unconscious biases and cognitive distortions. After all, the same thinking patterns that drive our everyday behaviors also carry over into our work and influence our decision-making. 

As Andrew Campbell, co-author of Strategy at the Corporate Level, wrote in the Harvard Business Review, “The daunting reality is that enormously important decisions made by intelligent, responsible people with the best information and intentions are sometimes hopelessly flawed.”

Fortunately, there are systematic ways you can reduce the risk of mistakes. The first step is learning to recognize thinking errors in the first place. Here, we highlight three cognitive distortions that can damage your business strategy and explain how to circumvent them.

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Topics: Market Research Strategy, How To's

The Top 6 Strategic Benchmarks

Posted by Joe Newsum

Jun 23, 2016 8:30:00 AM

Understanding the performance of a company is always at the top of mind for leaders and consultants. While internal analysis of the company’s financials and data can be insightful, it can also be somewhat baseless without comparison to industry peers. It is always prudent to couple internal analysis with external benchmarking.

But, where do you start?

Working with clients trying to determine their performance and identify improvement opportunities, I always start with the top six strategic benchmarks:

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Topics: Market Research Strategy, How To's

Market Research Budget 101: An Entrepreneur’s Guide

Posted by Caitlin Stewart

May 9, 2016 8:30:00 AM

Once you have found that great idea for your business, it’s crucial to determine whether your product or service can meet the needs of your target customers and achieve sustained growth. Big brand companies have the resources to spend millions of dollars on research and development every year, but start-ups and small businesses have much tighter budgets.

Fortunately, with a strategic approach and the right tools and resources, you can obtain the market research you need to minimize risk and increase your chances of financial success. Follow these tips to make the most of your start-up research budget.

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Topics: Market Research Strategy, Profound, How To's

7 Ways to Ensure Your Start-Up Is a Success

Posted by Sarah Schmidt

May 2, 2016 8:39:16 AM

Prior to launching in 2000, JetBlue identified a variety of unmet consumer needs. Its market analysis showed that airline passengers were willing to pass on hot meals and first-class cabins in favor of in-flight entertainment and upgraded leather seating.

JetBlue understood that its target customers were looking for more than cheap tickets — they also wanted a relaxing in-flight experience and a few unique amenities. With a mission to “bring humanity back to air travel,” JetBlue soon drew a loyal following of customers. Less than two years after it opened for business, JetBlue was one of the few U.S. airlines to make a profit during the steep drop in air travel following the September 11 attacks.

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Topics: Market Research Strategy, Profound, How To's

7 Tips for Building Great Online Dashboards

Posted by John Bird

Apr 20, 2016 8:30:00 AM

In recent years, corporate brand and marketing teams have pushed their market research departments and agencies to go beyond using PowerPoint presentations to efficiently deliver data and insights. As a result, they’re increasingly turning to online dashboards to create informative stories, observe and act on customer feedback, and analyze trends, all with the goal of inspiring and driving action. But effective online dashboards must be built properly. Below are seven tips to take into consideration to ensure you fully leverage the power of online dashboards.

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Topics: Market Research Strategy, How To's

How to Run Focus Groups for Kids

Posted by Judy Bartkowiak

Mar 3, 2016 8:24:24 AM

First get into child mode! This is your opportunity to shut the lid of your laptop, close your eyes, and use your imagination. Find your inner child. You cannot approach kids research in the same way as you do an adult project.

Let’s assume you are researching a toy. Imagine you are a child playing with that toy. Step into their shoes and imagine the scene. Who are you playing with, are you on your own, with a sibling, a friend, mum or dad? Where are you? In your room, in the lounge, or playroom, outside? What are you doing with the toy, what game are you playing? Are any other toys involved? Hover above the scene. How old are you? What’s this toy giving you? What could make it even more fun?

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Topics: Market Research Strategy, Retail, How To's

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