Market research is vitally important for any company, and how you obtain that research can play a role in determining how useful it really ends up being. There are numerous ways to conduct and acquire research, all of which have their own pros and cons. One method is to purchase reports through a third-party market research provider. These services act as a mediator between the publisher and the customer. But, why would you want the help of an outside company? Here are a few of the ways market research providers offer value through their various services and functions.
1. Broad-spectrum knowledge, unbiased perspective and validated insight.
Serving as an aggregate of reports from widely varying verticals, market research providers hold great value in their broad spectrum of knowledge. Whether you're interested in the pet industry, wireless electronics or medical diagnostic devices, a market research provider will have the diverse knowledge to direct you to the right report. In addition, the unbiased nature of a third-party provider ensures that your company acquires the report that explicitly answers your questions and most closely matches your overall research goals, giving no precedence to any particular publisher. And, as an added bonus, many providers host the report PDFs in house, meaning the research specialist can give you exclusive insight as well as actually guarantee that the report has the exact information needed before you purchase it.
2. Privy to information regarding niche publishers and markets.
Whether you are an establish business entering an entirely new market or an entrepreneurial startup company embarking on its first business venture, your market research source will be vital. Without prior market knowledge, it can be difficult to determine the leading publishers in a particular vertical, especially regarding very niche industries. This where a market research provider offers indispensable value. They are privy to knowledge of a wide range of publishers, including smaller, niche-specific ones that might be difficult to discover on your own but that have the most appropriate information for your needs.
3. Convenience and functionality.
Market research providers not only add value to the process of finding a report but also to the usability of the report itself. By taxonomizing and adding search features to reports, research providers increase functionality, enhancing skimmability and speedy section accessibility. In addition, they conveniently provide one online account, or location, to access all of your reports electronically, regardless of their vertical, which is particularly convenient for companies in very horizontal industries. This convenience can also come in handy if you experience technical difficulties or your hard drive crashes by providing immediate access.
4. Research Specialists
There is no denying that a research specialist can provide indispensable value to your market research experience. By contacting a specialist at your market research provider, you will gain a wealth of knowledge and insight into the reports you are considering. Not only can they review the actual report for the information you need, but they possess astute awareness of the publishers' tendencies. This will help you understand which reports will be more statistically based or which will be analysis heavy, ultimately, helping you make the most appropriate choice.
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