Market Research is the systematic, objective collection and analysis of data. It is NOT anecdotal. It includes both secondary research (often referred to as desk research) or primary research which is collected directly from appropriate individuals.
Market participants use market research to determine the feasibility new business ventures, to test demand for new products or services, to improve client satisfaction, retain and expand their customer base, and to develop competitive strategies. Market research promotes fact-based decision making in response to customer needs and arms businesses with the intelligence required for reducing risk and increasing profitability.
Forefactor provides a wide range of market research services including, but not limited to:
- Purchase pattern definition;
- Affective & cognitive market segmentation;
- Category and brand exploration for testing brand loyalty and brand repositioning;
- Demand estimation for new products & services (i.e. concept testing);
- Policy evaluation;
- Creative testing of advertising & communications strategies;
- Client satisfaction, swtiching & retention triggers;
- Competitive intelligence (i.e. industry reviews & market analyses);
- Pricing research (e.g. sensitivity analyses, strategies);
- Equity research & corporate due diligence; and
- Market opportunity assessments.