Market Research Informing Decisions
Market research is the collection and analysis of information about markets, organisations and people, to inform business decision making. In today’s competitive business environment, wherever possible business decision making should be based on evidence not guess work. Theory is not enough and the more knowledge a business has the more likely it is to succeed. Mackman Research can help your business make the important first steps with market research and inform fundamental future decisions for your organisation.
Market Research is an essential tool for businesses looking for competitive edge, growth, to improve profitability or enhance service levels. Successful business leaders are effective decision makers; however, in order to make the right choices they need accurate information from a trustworthy source. Market research can provide the market intelligence required and enables businesses to make informed decisions.
Increasing numbers of organisations are recognising the merit of market research as a crucial part of their strategic planning process. This is true for both the public and private sectors.
Why Undertake Market Research?
Market research is a crucial way of informing your future business decisions. It can provide intelligence relating to potential markets and future clients needs, allowing you to either launch a new product with a reduced risk of failure or to capitalize on competitor weaknesses by offering your clients the services that they actually want and need. Market research can also direct your business plans giving clear focus to future strategies and enhance the success of tactical marketing by highlighting channels that will meet with your target market.
Typical Market Research
Market Research First Steps?
- Have a clear view of your business objectives
- Think of a research question (for example, What is the perception of our service levels by existing and recently lost clients?)
- Select a reputable agency with MRS (Market Research Society) accreditation
- Work with your research agency to get the most out of your research project
- Always thoroughly read your research report and take note of your researchers verbatim responses
- Include the research findings when considering all future strategies and plans
“Our Market Research is tailored to your needs and will inform decision making” – Gemma Mackman Research Director
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If you have a requirement for market research, please contact us for an informal discussion, quotation or formal tender. You may like to use our enquiry form which will be forwarded to a senior member of our team for a priority response. Full details on our Market Research methodologies can be found on our dedicated research website www.mackmanresearch.co.uk