I have a great new business idea, but what will the marketplace think; will they buy it?
My marketplace is changing really quickly, what are tomorrow’s trends that I need to be thinking about now?
My business is at a cross roads we have various options, but which is the best one to pursue?
New legislation is being talked about, it could seriously affect my business, what can I do to understand or mitigate its impact?
How do I design a customer survey?
We all have great ideas from time to time but how many of us actually apply them and realize their potential, especially when we have busy day jobs? Landsker appreciates this time and cost dilemma and can undertake objective and independent research projects and feasibility studies to help you make the right decision. We maintain the view that forewarned is forearmed.
Organisations that take the time to research their market/customers well, are a step ahead of the competition. Information provides power, but you have to understand what to do it to give you that edge. Knowing accurately what your customers think about the service/product you provide them requires a boldness on your part to give them the opportunity to give you that feedback. If you are not serious about improving customer service DO NOT ask them any questions, you are likely to make matters worse. However, being prepared to ask questions in a format that enables you to acquire accurate information on which you can act can massively improve service, employee motivation and customer loyalty.
Good market research involves asking the right questions and gathering, interpreting and acting on meaningful and accurate information. The results enable business owners to either avoid doing something that may have costly implications or encourages them to do something on a more informed and considered basis.
Wise and profitable decision making
Market research enables organisations to: assess the feasibility of an idea, gauge the level of demand for a particular product or service or understand more about the demographics (age, sex, location, class) of a target audience. It is a key component of a good business strategy.
It is important to undertake research, not only at the outset before launching a business, but to use it in established businesses as an ongoing tool, to support wise and profitable decision making.
The market is constantly evolving and organisations need to keep in touch with what works. Coca Cola have been trading since 1886 and it is likely that market research has had a significant contribution to their success. Over the years, they have adjusted how the product tastes, how it’s packaged and where it can be purchased, to suit customer needs as they have evolved. Coca Cola, like all other successful businesses, always aim to keep one step ahead by looking at the next horizon.
Getting the best results
Research can be complex and many organisations feel unsure about where to start. Landsker knows how to simplify the process to help acquire the information that counts. Our team can assist you to understand your market better using:
Primary research – gathering information from the target market first-hand (using direct response techniques such as interviews, surveys, polls, focus groups and experiments/trials)
Secondary research – collating, interpreting and analysing existing information relevant to a specific business service or sector (market reports, specialist case studies, general media, other websites and general information in the “public domain”).
There are a wide variety of tools and techniques that can be used to acquire the information you need. This can include online survey devices such as Survey Monkey and using social media and constructing original devices such as structured interviews, paper questionnaires and facilitated focus groups to yield the desired results. The key to success is understanding what information you want, some of which may be commercially sensitive, and then devising the right techniques to acquire it. It is then up to you how you act on the information to make business improvements or pursue new opportunities, which links naturally to strategy and business planning.