PSI’s market research call center and customized surveys work with a diverse group of organizations that offer many different products and services. Here are some of the points PSI addresses when developing a market research survey:
• Product/services appeal
• Purchasing intentions
• Importance/usage of product or service to the consumer group
• Communication of Value Proposition
• Consumer usage
PSI’s extensive experience and strategic data collection methodology that helps us accurately collect the right data you need to improve your business. You can listen on all of our calls at any time. You can have the peace of mind that comes with knowing that highly trained, professional and courteous customer service representatives are collecting the most accurate data that reflects the opinions and beliefs of your target market.
How can this information help?
Here are 10 ways Market Research Surveys can help organizations:
1. Learn more about consumer’s behavior and attitudes.
Market research surveys allow you to can insight into your consumer’s perspective. This feedback can be used to help you anticipate market forecasting.
2. Quantify the market size.
By clearly defining the market size for products or services, organizations can use this information to formulate a strategy for organizational growth.
3. Identify the competition.
Market analysis can sometimes reveal weaknesses in the target market strategy, and it can identify opportunities of other target markets. This kind of information can help prevent organizations from wasting money chasing hostile markets or use funds to drive revenues by capturing opportunities that were previously missed.
4. Assess political and economic factors.
Research study data can help organizations identify marketplace and consumer concerns. Shifting market conditions may make an organization’s marketing strategy or expansion plan obsolete. In turn, this can have a significant impact on an organization’s bottom line. Research studies can uncover possible problems in marketing strategy or conflicts with a company’s current marketing programs. The information gathered in research studies can help companies identify all the political and economic factors that influence the marketplace. This kind of information is vital before a company decides to should expand or alter any product or service offerings.
5. Discern the volume/profitability price point.
It can be difficult to discern the perfect price point when introducing a new products or service to the marketplace. Quantifiable market research surveys can help determine demand, so organizations can strategically decide the price point.
6. Market Testing.
Uncover customer attitudes about new products and the proposed name of the product. This kind of information helps prevent costly rebranding campaigns campaign in the future.
7. Brand Positioning.
Market research helps organizations develop accurate brand awareness, allowing them to understand brand position and unique selling points. A company may learn that their brand is seen as a leader in “value”, rather than “price.” This kind of information about consumer perspectives can help organizations create and implement more effective marketing strategies to ensure brand alignment.
8. Identify differentiation and uniqueness.
Organizations may think their product or service is clearly different from their competitors, but customers may not feel that way. Market surveys allow you to gain insight into consumer’s perspective of your brand. This knowledge can help companies tweak their advertising message to differentiate their brand’s uniqueness.
9. Identify the most effective advertising mediums.
By clearly identifying the target and secondary markets, organizations can identify the means to communicate their brand’s message.
10. Create the most effective marketing strategy.
The data gathered in surveys gives organizations access to a wide range of diverse consumer opinions. This information can be used to develop a more creative way to market your product or service to consumers.