What is Market Research?
Quoting Matthew Rhodes, “ Research is about engaging in a conversation with a brand.” The definition of market research truly is identifying the process to garner information and interpreting it with analytical tools. It is said to be the activity of gathering information about consumers’ needs and preferences. Using different market research tools, you can gather information about a company’s vision, target audience, competitors and also go through an overall view of the industry as a whole.
Market Research sites help entrepreneurs build an image and understand the market strategy by making well-informed decisions. It helps to grab an analysis of what the consumer demands, what product is trending, what rates are marketed, all through market research techniques.
From identifying new business proposals to activating a new market for the existing commodities, market research sites enhance creativity and funnel resources into ideas.
What are the types of Market Research?
With this type of market research tool, you aim at capturing the needs, values, attitudes, behavioural patterns of the user. Thus, making it more informative and relevant for the companies to understand.
Depending on the needs of consumers, the product takes its shape. Both product development and marketing personnel must execute the same. And thus, such market research sites help grab an understanding of the audience.
Various campaigns are carried out to ensure proper advertising of the product. It is to estimate the viewer’s response and focus on creating impact.
Brand Awareness and Reach:
By conducting various surveys, you understand the brand image, customer profile and how effective marketing campaigns are.
Analysis through surveys and giving unique features and price points will help the company to understand what features are important to the audience. These research insights will help the company to have an upper-hand advantage in terms of products and services.
Data Collection and Analysis methods:
There are two forms of research: Qualitative which is self-explanatory. It uses in-depth interviews, bulletin boards, and focus groups to understand insights. And the other one, Quantitative Research: Collects data through surveys in different modalities like online, phone, paper.
Here are the top 10 Market Research Sites:
- Pew Research Center: The company is a nonpartisan American think tank headquartered in Washington, D.C. To get more insights and form reports to use in your market research evaluation, you must search for the Pew Research Center. It offers all the insights into social, industry and media trends.
- Tofler: Making it to the list of top 10 Market Research sites, Tofler is a company research organization that variably elaborates your experience to target your market. Using various financial, geographical, and industrial filters, this company builds a brand image by introducing new prospects with the 360-degree market tool.
- Forrester Research: Ranked among the top market research sites, this company supports your business by providing critical evaluation and advice on the existing and potential impact of technology. Helps in decision making with the most influential research tools.
- GreenBook: This market research site provides original insights into the challenges faced by the market research industry nowadays. Being strategic and tactical, Greenbook furnishes unique perspectives on a wide variety of issues.
- Alexa Tools: Launched by Amazon, Alexa connects with the audience using market research techniques and gains insights. Using Alexa tools, you can expose the details about your audience’s interests, habits, demographics, etc. This site surely works pretty well.
- Mintel: Mintel is the expert that you want. It delivers insights with thorough analysis and competitive judgments. A global, award-winning provider of market research, Mintel believes in setting apart what defines the brand and predict recommendations enabling client interactions.
- GlobalWebIndex Blog: A market research site with core technology experience. Considered a hub of marketers, this company explores various trends and gives the latest insights that work. A talented bunch of professionals works on delivering leading consumer insights to household-name businesses since 2009.
- BIS Research Blog: A leading market research site marking intelligence, research, and impact in a unique way. With emerging technologies and approved solutions, it enhances your customer base experience that will impact your business. You can be sure of the growth it promises to address.
- DelveInsight: A market research and consulting firm that provides services in the USA, UK, Japan and more. With over 5000 research reports, this company helps to maintain a strong foundation within the market.
- Nielsen: With a confirmed presence in approximately 100 countries, Nielsen is a leading global information website that uses media measurement, online intelligence, mobile measurement tools to market consumer information and provides reports of the same. A completely trustworthy site for many.
All the information constructed above is purely verified and consolidated. Use any of the above sites and get finner inputs.