Business Consulting operates in the tertiary spaces between practical problem-solving and the ideation of the problems and their solutions. This process stands on and is supported by the data collected, reviewed and represented by market research. Market research is a complex process and firms continue to need it as a reference point to strategies. Market research provides an analytical view of the business’ position in its industry, economy, and demographics it chooses to serve to enhance customer services and satisfaction. It is frequently used by companies to evaluate critical insights and assists them in achieving multiple organizational objectives- from sales initiatives to marketing campaigns.
Stratsmith’s market research services are designed to help businesses make informed decisions about product development, marketing strategies, and other important business initiatives with valuable insights into their target market, industry, and competition. Here are some of the common types of market research services we offer:
Surveys are one of the most common forms of market research. They involve collecting data from a sample of people through structured questions. Surveys can be conducted online, by phone, or in person.
Focus groups are small, informal group discussions that help businesses gather insights and opinions from a selected group of consumers.
Secondary research involves gathering data from existing sources, such as industry reports, government statistics, and market reports.
Observational research involves observing and recording consumer behavior in a natural setting, such as a shopping mall or a store.
Customer satisfaction studies measure how satisfied customers are with a particular product or service.
Product research involves testing a product or service with a sample group of consumers to gather information about its strengths, weaknesses, and potential for improvement.
Competitor analysis involves studying a business's competitors to gather information about their strengths, weaknesses, and potential opportunities for the business.
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