Market Research
What is Market Research?
"Marketing research is the function which 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 our understanding of marketing as a process."
(Peter D. Bennett, ed., Dictionary of Marketing Terms)
Market research is essential for every business because it helps you identify your
market and obtain information about products/services that will meet the needs of
your customers. You'd be lost in the dark without market research.
What can Market Research do for you?
Market research can help you:
- Target your market with a more focused approach
- See how customers compare your product/service to your competition
- Learn what your competitors are doing
- Understand factors and trends that affect your business
- Identify the needs and wants of your customers
- Keep abreast of recent developments in your industry
- Stay informed about relevant policies and regulatory requirements
- Assess opportunities for new products, new markets and market niches
- Locate potential customers for your product or service in your local or overseas
markets
What does Market Research by Smart Reach eMarketing cover?
SRe can produce a customized market research report that provides practical implications
for your business. This valuable report will have a clear objective, and suit your
needs and budget.
Our experienced professionals conduct research on global trends, domestic developments
and other information on factors that can impact your line of business, your product/service
offerings, your target markets and customers. Where available, we make use of secondary
data from external sources (e.g. census and trade statistics) and internal sources
(e.g. client’s sales data).
Where more client-specific data is unavailable but necessary, we collect first-hand
primary data using consumer surveys, focus groups, customer interviews and other
tools. We design questionnaires for data collection, and determine the statistically
reliable sample size for your purpose.
For both qualitative and quantitative research, we collect, process, analyze and
interpret the data to divulge findings and conclusions that allow you to practice
better informed decision-making for your business.
SRe will identify strengths, weaknesses, opportunities and threats to your business.
Our report will include recommendations on marketing strategies that can be deployed
as part of the marketing plan for your business.