Market Research Services is the process of systematic gathering, recording and analyzing of data about customers, competitors and the market. Market Research Services by Intact research provides the best possible platform to create a business plan, launch a new product or service, fine tune existing products and services, expand into new markets etc.
Intact researches help companies make better business decisions by it Market Research Services reports, about the development and marketing of new products. Intact research represents the true voice of the consumer in a company. We specialize in hard-to-find information. We go beyond the obvious, providing you with forecasts & insights from veteran marketing pros. and we do all our Market Research Services with unmatched speed.
Intact research provides a comprehensive range of Market Research Services and Market Research Consulting Services reflecting our experience and strong capabilities.
The services offered under this category include:
Qualitative research is designed to reveal a target audience’s range of behavior and the perceptions that drive it with reference to specific topics or issues. It uses in-depth studies of small groups of people to guide and support the construction of hypotheses. The results of qualitative research are descriptive rather than predictive.
Qualitative research methods originated in the social and behavioral sciences: sociology, anthropology and psychology. Today, qualitative methods in the field of marketing research include in-depth interviews with individuals, group discussions (from two to ten participants is typical); diary and journal exercises; and in-context observations. Sessions may be conducted in person, by telephone, via videoconferencing and via the Internet.
Why Qualitative Research Works:
Several unique aspects of qualitative research contribute to rich, insightful results:
It is including surveys and customer questionnaires that can help firms to improve their products and services by enabling them to make informed decisions
Quantitative research is about asking people for their opinions in a structured way so that you can produce hard facts and statistics to guide you. To get reliable statistical results, it’s important to survey people in fairly large numbers and to make sure they are a representative sample of your target market.
Reasons to do market research:
Research is an important first step before you undertake many key marketing tasks including:
Quantitative market research typically includes customer surveys and questionnaires. These can be conducted face-to-face with a clipboard and pen, over the telephone, via post or email, online or via your website. Survey questions have to be carefully considered so that the results will provide meaningful data. So don’t just ask if people know about your business, ask how often they visit, what products they buy and where else they go to buy the same products and why.
Quantitative market research: asking the right questions
Answers on a structured questionnaire are usually closed — in other words they require respondents to choose from a specific selection of answers and do not allow for the respondent to qualify their answer or elaborate. So a garden centre owner might ask, “How often do you buy plants and gardening supplies?” and respondents would have to choose between five options: never, once a year, 2-3 times a year, once a month, every week. A semi-structured questionnaire will ask one or two questions where the answers are open-ended.
By asking lots of people the same questions, it’s possible to build up a clearer picture of how customers behave.
Quantitative market research: surveying your customers
Choosing how to conduct your survey is another important issue. Face-to-face works well if you need to explain anything or show a product to the respondent. Telephone surveying can also be very effective but it can be hard to catch people when they have time to talk. If you are sending out surveys by post and email, you may find you have to offer an incentive in order to persuade people to take the time to fill out the questionnaire.
What can quantitative research tell you?
Social research is the scientific study of society. More specifically, social research examines a society’s attitudes, assumptions, beliefs, trends, stratifications and rules. The scope of social research can be small or large, ranging from the self or a single individual to spanning an entire race or country. Popular topics of social research include poverty, racism, class issues, sexuality, voting behavior, gender constructs, policing and criminal behavior.
Social research determines the relationship between one or more variables. For example, sex and income level are variables. Social scientists will look for underlying concepts and cause-and-effect relationships of a social issue. Before even beginning research, scientists must formulate a research question. For example, a researcher might ask if there is a relationship between a person’s sex and his or her income level. Do men have higher incomes than women? Are women most likely to be poor?
A third variable, race, can be added to the question. Then the social scientist can pose a research question: Does race and sex affect a person’s income level? Social scientists will then collect data, organize and analyze information and create a report of their findings. People conducting social research must also consider ethics, biases and the reliability and validity of the research they’re conducting. They must decide which form of sampling to use, how to measure information, how to analyze data and present their findings.
Research can be conducted using surveys, reports, observation, questionnaires, focus groups, historical accounts, personal diaries and census statistics. There are two types of research: qualitative research and quantitative research. Qualitative research is inductive, meaning the researcher creates hypotheses and abstractions from collected data. Most data is collected via words or pictures and mostly from people. Researchers are interested in how people make sense of their lives and in the research process itself.
Quantitative research is the complete opposite and most often involves numbers and set data. Quantitative data is efficient but focuses only on the end result, not the process itself, as qualitative research does. Quantitative data is precise and is often the result of surveys or questionnaires.
In general, data analysis is the process of collecting, cleansing, and analyzing data to form useful conclusions and make important decisions.
The Benefits of Data Analytics
Competitive market analysis is the process of ethically gathering information about market competition to assess their strengths and weaknesses as well as your own organizations strengths and weaknesses. The objective of competitive market analysis is to collect actionable competitor intelligence to help understand what's happening in the world outside your business. It includes learning about your industry in general and your competitors at the earliest possible time.
The process of competitive market analysis is about adhering to a strict ethical code by collecting data that are available either in the public domain or from other players in the marketplace. It empowers one to anticipate and face market challenges confidently with effective business strategies.
Developing an effective competitive strategy begins with a rigorous evaluation of the performance of your organization relative to one or more of your competitors. Guesswork and gut feelings are out of place in such a process. One can perform a meaningful comparison only after a thorough assessment of one's own business compared to your competitors has been performed.
A good business plan is vital in setting up a successful business. A business plan creates a written outline of a new business venture, and evaluates all aspects of the economic viability of the business venture.
The Benefits of a Business Plan
Business plans help companies to define the enterprise objectives scope, products, services and operational strategies. They can also begin to analyze the competition, forecast the sales, profit and cash flows. Since business plans are summaries of operations and give inputs on investors demand to see them as tools for evaluating requests for financing.
DARTS’s Business Plan Services
We conduct market research and financial analysis as part of building a business plan. Every business plan consists of the following chapters: