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How we carry out market research?
STEP 1
Set Objectives
A clear research objective always yields better results.
What is the purpose of the research? What information is being sought? How will information be used?
STEP 2
STEP 3
STEP 4
STEP 5
Find out what information already exist
Design interview questions/ questionnaire survey
Conduct research through survey/ interview/ observation
Analyse and present results
We leverage on secondary data research (e.g. existing internal information, official and unofficial websites) to set a basis to the interview questions and to save time.
We use simple questions that are to the point. We test the survey so that it is effective (e.g. it does not contain answer options that overlap, double barreled questions, too many or too little answer options).
Typical types of primary research - face to face interview, group interviews - focus group, online surveys, on-the-ground surveys. We train our surveyors to remove interviewer biasness.
We map and link survey results to answer questions raised in the objective. The better the research, the more informed the decision.
Market research can be treated as an ongoing exercise done periodically.
This will result in loads of data for analysing customers and identifying any particular trends.
How we work with clients?
1
We frame the question or problem to be solved. We establish the research question.
3
We listen to your needs and compose a highly relevant field survey to get valid conclusions.
5
We feed back insights to the business for response and action (e.g. market need, market size, competition, trend).
2
We scan secondary sources for readily available information and background to save time and money.
4
We conduct field survey and analyse the survey results.
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