What are Best Market Research Analysis Methods Limra Market Research Adopted?

What are Best Market Research Analysis Methods Limra Market Research Adopted?

Hard data is of no use to marketers unless it is analyzed correctly and effectively. With proper tools and techniques, market research analysis can be done which can be useful to meet your business goal. There are various ways to perform market research but at Limra market research we stick to basics, hence we use

1.       Survey

2.       Focus groups

3.       Personal interviews

4.       Observations

5.       Field trials.

The suitable technique to generate the best business market report is based on type of data you need and financial budget you have.

1.       Survey:

In survey a set of questions asked to particular audience that represent your target market. It is recommended to have straightforward and concise questions for better output. Survey gives best results when sample audience is large. These can be done by following ways.

?         One-on-one interview

?         Telephone survey

?         Mail survey

?         Online survey

2.       Focus Groups:

In focus groups, discussion happens among group of people and usually scripted questions or topics being asked. These discussions usually happens in war rooms having video conference facility and takes one or two hours with at least 3 groups involved to get balanced output. Focus groups do not provide accurate and reliable statistical data because they do not represent wider target audience. However they provide more accurate subjective data as compare to surveys. 

3.       Personal Interview:

Personal interviews are like focus groups, instead of group discussion, one to one discussion happens. These contains unstructured, open ended questions and lasts about an hour. Focus groups and personal interviews are best way to light on the issues related to new products and service development.

4.       Observations:

Observation of people?s actual behavior can give you more insights about customer?s usage habit and/or shopping pattern. This is possible by video recording them at stores, at home or at work place.

5.       Field Trials:

Keep the new product in local stores and let customers use it for free for some time and observe customers response in real time. This will help to improve the product performance, identifying issues at initial stage only and building repo with customers and local stores. Now a day?s websites also used to test the product.

Based on the customer requirement, we use one or more than one combination to produce the best in class market research reports.

Our research will provide you a productive ideas for your product to make more effective and impressive in the competitive market. You can get in touch with us on sales@limraglobalmarketresearch.com feel free to contact us, our dedicated team will assist you.



About the Author

Gangadhar Kulkarni

Gangadhar Kulkarni

Gangadhar Kulkarni, owner of web development company is a Internet Marketing Professional having extensive experience in SEO & SMO. He is also founder of seogdk, a digital marketing blog where he shares information about SEO, SMO, SEM, blogging & web technologies by way of articles.

Posts by Gangadhar Kulkarni

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