Ask this question to a random group of people, and you will likely get a gamut of responses ranging from “telemarketing” to “focus groups” to “surveys” and the like.
While many of our clients are well-versed in the world of marketing research, others are a little less certain of how marketing research can apply to their business needs.
The overarching goal of marketing research is to provide businesses with good, reliable data so they can make solid business decisions, no matter how big or small. It can be used to understand consumer or business-related habits, behaviours and perceptions, to help understand a variety of issues, from launching new products, to testing advertising, to evaluating brand health and more.
The marketing research process starts with identifying an issue, opportunity or goal, moves to research design and data collection, and on to processing, analysis and evaluation.
Qualitative research is all about observing and talking to specified groups of participants, and answers questions by exploring issues, understanding perceptions, needs and wants, and identifying phenomena. It can involve focus groups, telephone or online interviews, ethnographies, secondary research or literature reviews and more.
Quantitative research is all about hard data. It provides organizations with statistically reliable numbers on which they can base final courses of action. It assists in profiling, identifying market sizes and segments, and can help project results to a large population. Quantitative data can be collected via online, telephone or in-person surveys, points of purchase, click streams and more.
Lux Insights is a full service and independent Market Research firm. We provide tailored solutions to help clients of all sizes across a wide range of industries. With offices in both Vancouver, British Columbia and Seattle, Washington, we work with leading branding, design and public relations partners to help clients put their research to work.