Why You Should Conduct Market Research Business with People, Not Companies

There is a reason why people repeatedly return to the same restaurant. Is it the food? Clearly if the food is sub-par, then any establishment will soon be out of business since no one will return to an eating establishment for a lousy meal. But, given that the food that is served is good, one can then argue that there are probably many other restaurants located in the vicinity of our favorite eating place. Why would we repeatedly return to the same one? It’s the service! It’s the people who serve the food; it’s the manager of the restaurant who comes over and personally greets you. It’s the wait staff that serves you as though you were the most important person in the room. And, most of all, it's the high quality food served at a price we are willing to pay. That’s what brings us back, time and time again. And, those factors are what make you loyal to any business.

Topics: Market Research Strategy Market Research Provider Industry Insights

Current Mobile Market Research Trends

According to Statistica.com, 163.9 million people in the U.S. have smartphones. With so many people in the market using mobile phones for more than just making phone calls, there are many key trends that have emerged that make mobile one of the most interesting industries.

Topics: Consumer Electronics Industry Insights

How to Define Market Research Success

A "good" market research report can cost you thousands of dollars.  And when I say “good,” I mean a report that helped you make one of your difficult business decisions: should we buy company X, should we invest in industry Y, who are the competitors we should fear, who are the customers we should go after?  While some may find it hard to determine to what extent, market research is unequivocally helpful when trying to make an affirmative decision (ie: should we enter this market?), and it can be equally helpful in informing on what to avoid.

Yet, often times, defining success when using market research can be a major gray area. Success doesn't always translate into definite measurables. Plus, success can be an extremely subjective concept. What a small entrepreneurial technology company might call success can be vastly different from success as defined by a Global 2000 corporate powerhouse.

Topics: Market Research Strategy Profound How To's Industry Insights

Mid-sized Companies and Big Data

Can Big Data positively impact revenues for mid-sized and small business data strategies? Last week we asked when the market research community will develop strategies and tactics to define terms for Big Data's use across industries:

As market researchers confront the era of Big Data, it is time to ask key questions about its usability, its potential to affect how they do their work -- and how it impacts the customers who purchase their work. Google, of course, is a major player in the Big Data landscape, but smart business-owners know that accurate, reliable market research tailored to their specific needs requires far more specificity and targeting than the search engine giant can provide.

Topics: Market Research Strategy Big Data Industry Insights

When Will Market Researchers Tame 'Big Data'?

Last year "Big Data" emerged as a topic of awe in the popular press and became a savvy talking point. But beyond the conventional wisdom that is taking shape, market research experts who have long practiced data-collection and big data analytics -- if on a smaller scale -- are questioning if this will be the year that the ‘firehose of data’ directly impacts their field. Even big data healthcare companies are wrestling with the implications of utilizing the vast amounts of information available to them. 

Topics: Market Research Strategy Big Data Industry Insights

Navel Gazing: Exercises in Quantitative Market Research Analysis

In a continuing effort to hone our quantitative market research analysis skills and lend our methodological expertise to some of the most pressing questions of our time, the analysts at MarketResearch.com offer an occasional post on quantitative research challenges.

Today’s challenge, literally under the heading of “Navel Gazing,” is to determine as accurately as possible the amount of belly-button lint produced daily in the United States.

Topics: Market Research Strategy Industry Insights

Where can you get good market research reports?

Finding the right market research report for your business can be time consuming and costly. There are an ever growing number of market report vendors online, most of which do not back up their sales with knowledgeable research specialists or customer service. Watch this short video to see how MarketResearch.com can help you pinpoint the specific and actionable market reports you need.

Topics: Market Research Provider Industry Insights

Segmenting Market Research in India

Market segmentation is becoming an increasingly important issue in market research and business intelligence in India. Segmentation, as defined in market reports by the Market Research Company India, helps companies identify and pin point the market into groups of potential customers with similar motivations and characteristics.

Topics: Industry Insights