What is Market Research

What is Market Research

Market Research

From the AMA… “Market(ing) research is the function that links the consumer, customer, and public to the marketer through information – information used to identify and define marketing opportunities and problems; generate, refine, and evaluate marketing actions; monitor marketing performance; and improve understanding of marketing as a process.

Marketing research specifies the information required to address these issues, designs the method for collecting information, manages and implements the data collection process, analyzes the results, and communicates the findings and their implications.”

In other words market research helps organisations make accurate informed decisions on their marketing mix and how it will impact on customer behaviour.

Evaluation

Evaluations help organisations answer one of these questions:

1. (BEFORE) What should we looking at? (includes needs analysis, whether the evaluation is feasible etc);

2. (DURING) How are we going? (in the middle of a program and evaluating if the objectives are being achieved and if any changes should be made during the program);

3. (AFTER) How did we go (were the outcomes achieved?)

A note from The Research Broker…

Although market(ing) research and evaluation can use the same methods (focus groups, interviews etc) you will find may some research companies do not conduct evaluations and many evaluation companies do not conduct market research.

So you need to do some research

…who do you choose?

The Research Broker is the first and currently the only company in the world to offer a truly global independent market research and evaluation brokering service. Since 2004 we have worked in various sectors for clients all round the world. Research has been conducted on behalf of our clients in many countries, including the Middle East, South Africa, Australia, Asia, America, Europe and New Zealand. We use global, regional or country-specific research companies to conduct the research. Who we recommend to you (our clients) depends on the specifics of your project and the Brief that we write on your behalf.

We know all the leading research companies

… and most of the others.

We spend a significant amount of time meeting with market research and economic and evaluation companies. We also research their websites, talk with their clients, and follow up after they have completed research projects we have brokered. In this way we get a feel for how they operate. Many companies regularly update us with staff changes (this is hugely important) or if their expertise changes or if they have developed new products or services. This is how we keep our database up to date.

Research and evaluation companies can also complete a form outlining their areas of expertise. This is stored in our database, which we access for each project to determine who should be invited to the tender. We encourage research companies to add additional information on a regular basis. We have spent and continue to spend thousands of hours ensuring our database is as accurate and as up to date as possible. This is our commitment of service to you and your market research or evaluation projects.

We have worked in most sectors

…but

We have worked with many companies internationally across a wide range of sectors (see sidebar). But more importantly we know which research company has experience in a particular sector, or in a particular region of the world, or within a particular specialty.

We can get the “best fit” for your specific project.

Many thanks for the work you have done in sourcing an international (Californian) company to assist us with the market evaluation we are doing in the Southern Cape of South Africa for a major mixed use property development. The Californian company fitted our criteria perfectly and, while it is early days, I have been most impressed with their professionalism and knowledge.”
Douglas Parker Associates (South Africa)