Market Research
Service Description: Market research is a process that connects the consumer, customer, and public to the marketer through information. This information is used to identify market threats, marketing opportunities, and marketing problems. It also involves generating, refining, analyzing, and evaluating marketing actions and monitoring the performance of those actions. Marketing research can also include database marketing. It can also include a market or customer survey. A customer survey can be very valuable to you because many small to medium sized businesses make the mistake of not surveying their customers on a periodic basis. A marketing consultant can design a survey, compile survey results, and provide findings and recommendations based on the results.
A great deal of enlightening information can be provided to you based on customer surveys. Examples include:
- Areas of dissatisfaction with products and services;
- Customer handling methods which are causing problems and need to be corrected;
- Information about the competition;
- Ideas for new or improved products and services; and
- Market Analysis — This involves the analysis of current or potential markets in terms of profitability, size and competitive strategy.
Why you might want to hire me:
- No expertise in-house;
- Not enough resources in-house; and
- Additional resources needed to support in house.
My role:
One example of a low cost, high value marketing research project involves me evaluating the demographics of your current customers. This process is valuable because by knowing the demographics, you can more easily target likely prospects to do business with you based on the demographics.
Your deliverable:
The deliverables will vary depending on the scope of an assignment. These deliverables could include but not be limited to:
- Customer segment analysis by geography, market, and other factors;
- Customer attrition/retention study; and
- Assistance in prospect list selection.
