Welcome to Market Research Guide
Market Research Firm Article
. For a permanent link to this article, or to bookmark it for further reading, click here.
How to Know Which Market Research Method Is Best For You
from: Deb St. George - MarketingSalesCopy.comMarket Research is a systematic, orderly and analytic method to know and understand the wants, expectations and performances of prospective customer or buyer. There are many methods that can be used to perform this process. The methods most extensively used are surveys, questionnaires, telephonic interviews, focus groups, online polling etc.
However before choosing and investing in a market research methodology, it is good to understand and answer a few critical questions, like who are the customers? How they can be best reached? What is the customer profile i.e. in what age group they fall? What is the ratio of male and female in the consumers? What is your budget?
The best method can be zeroed in once you answer the following questions:
1. What is the target market(s)?
The understanding of customer database should be done to draw out some conclusions about whom and what types of people are purchasing from you. The answer to this question enables you to choose the right media and to get a good feel of your best target market.
2. What are the media sources that my target market watches listens to or read most?
To find answer to this question, the best step is to do some research about what specific media is used by the target market most often. The answer to this question can be best sought by simply paying attention to the consumers or to ask them straight about their choice. You can inquire about the names of publications that they subscribe to, the specific associations or groups that they belong to, their favourite radio stations, their most watched cable television programs, or the mails that they usually choose to open up and read.
3. Which media can convey the message at the lowest cost?
This is perhaps the most critical question .To answer this question you can compare the relative investment that you will have to do for marketing while using one media or the other. A commonly used measurement related to media buying is the “CPM”. It allows you to break down your media investment into cost per 1,000 “exposures.” So this tool can be used to effectively analyze all the media package options that you can consider.
4. What are your advertising objectives and how well will the chosen media help you to accomplish them?
The CPM measurements do allow the selection of an effective medium, but the question still remains unanswered that whether it would meet the advertising objective .For example if you wish to distribute pamphlets for your brand promotion, then you should understand that your advertising requirement is that people note down and remember your brand and the place from where it can be purchased.
Market Research Firm News
Infonetics Research: $186 billion to be spent on carrier Ethernet equipment over next 5 years
The global carrier Ethernet equipment market grew 13.4% to $31.7 billion in 2011, following a 43% hike in 2010, reports market research firm Infonetics Research in its latest Carri
Read more...Infonetics Research: Ethernet Access Device (EAD) Market to Grow 81% from 2012 to 2016
The Ethernet access device market grew 17% in 2011 over 2010 and is forecast to grow 81% between 2012 and 2016, reports market research firm Infonetics Research in its new Ethernet
Read more...Goldman Small Cap Research Issues Update on TeleFix Communications Holdings Inc.
BALTIMORE, Md. -- Goldman Small Cap Research, a stock market research firm focused on the small cap and micro cap sectors, has issued a company update on TeleFix Communications Holdings, Inc, a minority ...
Read more...Infonetics Research: Cisco, Alcatel-Lucent, Juniper Gain Carrier IP Edge Router/Switch Share in Q1; N. America up 27%
The global service provider router and switch market, which includes IP edge routers, IP core routers, and carrier Ethernet switches , sequentially decreased 14% to $3.3 billion in the first quarter of 2012 , reports market research firm Infonetics Research in its latest Service Provider Routers and Switches report.
Read more...Goldman Small Cap Research Issues Update on TeleFix Communications Holdings
BALTIMORE, Md. -- Goldman Small Cap Research, a stock market research firm focused on the small cap ...
Read more...Android, iOS gain share in Q1 as Symbian, BlackBerry plummet
Google’s Android operating system and Apple’s iOS platform showed big market share gains in the first quarter of 2012 as Symbian and BlackBerry shipments plummeted. Market research firm IDC on Thursday published its global smartphone market share report for the first quarter of this year, and Google’s Android was far and away the biggest winner in terms of year-on-year shipment gains. According ...
Read more...ARC Releases Unique Hosted Market Research Solution With Rapid Analysis Capabilities
DEDHAM, MA-- - ARC Advisory Group , the leading global research and advisory firm for manufacturing, industry, and infrastructure, announces the release of MIRA . This online, cloud-based, hosted solution ...
Read more...