Stallion Research - Market Research Company by marketresearchcompany

Stallion Research - Market Research Company

What makes marketing research so fascinating is how this research is conducted in such a scientific manner. Just like how scientific discoveries were made after incorporating a series of fixed methods, by using the same process you are helping your brand achieve a sure-shot report on what is going on and what needs to be fixed. This cannot be done by simply walking around the streets or by hearing a popular opinion on something. Very often due to our prejudices and biases, we tend to have a fixed understanding of how our brand works. We think we know how to crack the whip and turn things around, but the truth is you are cracking a whip in thin air. However, with market research firms, you are indulging in a full-proof process of data gathering that is built to get accurate results. This process

involves going through a primary and secondary set of information which then eventually leads to giving an understanding of where and how your product fares in the market. With every market turning more and more competitive day by day, we are slowly seeing a next-generation sequencing of new and never heard of market trends that can only be tapped into through extensive market research. Now that we have covered in-depth what marketing research firms are, let us understand who needs to use this tool. The answer is simple. Everyone. There is not a single person business or no business who has not ever used the tool of research. We were taught in school and some of us have even done papers of extensive research that we have done for several school assignments. If you are looking at a product or brand launch or even a relaunch, then there are no two ways to do this other than resorting to market research. However, it is also important for you to get an overall understanding of some of the types of marketing firms available.

Mystery Shopping Firms These are perhaps one of the most fun and unheard types of market research firms. In this type of research, marketing firms hire applicants into participating in a task to help understand a product better. In this a person is chosen, promised payment, and simply asked to experience a product or brand just like a normal person would do.

However, once they do this, they must divulge information about how their experience was and other important factors. This depends and changes from product to product. The good part about it is that you are getting real-time consumer experience laid out before you, however, there are always concerns of participants wanting to be a part of this for the money. This is why their answers might come off as not very sensible at times since all they mainly wanted was to get paid.

Ready to Use Information Firms In such firms, a steady set of research reports about specific industries is maintained. This information is usually the type that is sought after by the business community. A lot of it has to do with a variety of trends and demographics. These reports are then made available online for download at a price. The great part about this is that this is instant information available right in the palm of your hands online. However, finding the right file just for you

can sometimes be a challenge. Especially if your business is something that stands out of the crowd and is a brand that has not been covered yet by marketing firms.

The Complete Experience Firms These are the firms that most people look at. These firms offer you all of the processes needed to conduct proper and fully extensive research. It is not broken down into different agencies and all of it is handled by one organization. The great part about this is that you don’t have to struggle or pass on information from one agency to another because a certain agency did not have one particular research process. However, several complain that the cost of this type of firm tends to always be on the higher end. Since everyone is looking for good deals. A lot of times people try to avail different services from different firms with the hopes of scoring a better deal

Fieldwork Firms These are the firms that focus on qualitative research. They indulge in incomplete fieldwork of research collection. They focus on interviews, focus groups, surveys, simple observation, and other methods of collecting data. This is like asking someone to spy on a certain person to get information on regular activities and patterns. The teams that belong to such firms simply focus on paying attention to these details and reporting them as is. After this, a plan of action is devised and focused upon. These firms are great because they put you in direct and raw touch with your consumers, however, it is finally your plan of action that will determine what route your product will eventually take in the future.

Now that you have a clear-cut understanding of some of the popular types of marketing research. The next question that needs to be asked is which of them appeal the most to you and why. Based on this you can make future decisions for your company and work towards creating your company into something way bigger than you expected. At the end of the day no matter how much research is conducted; ensuring that this information is put to proper use by creating marketing plans etc is even more crucial. There is no fixed formula upon what firm would suit you, however going with your gut is what truly matters because no matter what you do, at the end of the day, the information that you get is going to be the same if you choose it all from one market research company or choose to avail information in parts from multiple sources. What will matter is that one final plan you decide upon to help boost the growth of your brand.