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Market Research

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Market Research

At VisioneerIT, our market research team offers a vast range of qualitative and quantitative research services for our B2B and B2C clients in a variety of sectors. From F2F and CATI to focus groups, customer satisfaction surveys, and user product testing, our team can ensure you gain access to robust information in order to help your company stay one step ahead of the competition.

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Why Market Research?

Market research is an essential component which factors into the success and long-term sustainability of any business. This is because it gives your company the ability to glean insights from your target audience at a granular level in order to fuel the strategy and decision-making process.

Market research gives you access to valuable information such as market trends, and customer demographics, desires, motivations, interests, pain points, and behavioral patterns. However, it can also provide valuable insight into how your brand is perceived and performing within the market. For example, if you’re interested in learning how satisfied your existing customers are with your current experience, how aware the market is of your latest campaign, or what your audience perceives as your strengths and/or weaknesses, then market research can help with that. Essentially, it takes the guesswork out of marketing and enables you to create stronger, more focused campaigns which not only helps save valuable resources, but minimizes investment risk.

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our process
1

Information Gathering

During this initial phase, our goal is to gain an in-depth, robust understanding of your company’s unique needs, as well as the volume of data you require and your ideal timeline. We consider a myriad of factors such as which approach is best (i.e. B2B or B2C), whether quantitative or qualitative data is ideal, and if your focus lies on gaining emotional customer feedback or hard data. We also work with you to decide upon a strategy for using this data in your future processes.

2

Identifying the research methodology

During the second phase we take the time to work with you in order to identify the ideal methodology based on your particular preferences. For example, you may be interested in conducting small, targeted focus groups. Or, you may prefer to take a route which provides you access to a larger volume of data and instead lean more towards online or telephone interviews. At the end of the day, you can rest assured that our strategists will work with you every step of the way in order to ensure your desired goal is achieved.

3

Data Collection and Analysis

During the final phase, our team of expert analysts compiles the raw data collected and begins the analysis and assessment part of the process. We also take it one step further by presenting the results in a manner which is simple, straightforward, and easy to interpret, regardless of your background. Based on this data, we then begin working with you in order to support your future marketing needs.

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Information Gathering

FAQs

ALL YOUR QUESTIONS ANSWERED
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question 1

Do I really need to conduct market research?

The simple answer is – yes. Absolutely. At the end of the day, your company’s success is highly dependent on the level of insight and knowledge that you have into your target audience. Regardless of which industry your business is operating in, there’s no doubt that you have a great deal of competition; and if you’re losing any money at all to your competitors, then you realize how crucial it is to identify where the gaps are in your processes/services. Market research provides you with the keys to success so that you’re able to effectively identify and overcome the various obstacles and challenges which are hindering your future growth and sustainability.

question 2

How long is the market research likely to take?

The methodology we adopt and the size of the research exercise we choose is based on statistical theory in order to ensure that the data we collect is statistically representative and reliable. As a result, the duration naturally varies based on both of these factors. Generally speaking, small research projects usually can be completed in around 8 weeks. Examples of small research projects are:

  • Short telephone survey with 350 interviews
  • Up to 10 focus groups with a maximum of 25 in-depth interviews in total.
question 3

How much do I need to invest for market research?

The cost of market research can vary significantly from one company to the next based on specific needs, budget, and goals. If you’re interested in learning more about how to prepare for your market research activities, we encourage you to reach out and we will provide you with a custom quote matching your unique preferences and needs.

question 4

How much can I trust this data and can I base important business decisions on it?

At VisioneerIT, our market research processes are based on statistical theory. Therefore, you can rest assured that the data collected is high-quality, reliable, and a sound representation of your customer base. A key factor in data usability is relevancy. Therefore, the more up-to-date data we can generate for you from a representative sized sample, the better results you’ll achieve. However, it’s important to keep an open mind when it comes to interpreting results and translating them into action-oriented business decisions. Sometimes, you don’t always get the answers you were necessarily were hoping for, but we can assure you that you will always get valuable information you need.