Maintain your competitive advantage by identifying what the market requires and what your competitors are doing.
Having correct and complete business intelligence to hand is crucial before you make important business decisions. Market research can guide your decisions, providing insight into your market, your competitors, your products and your customers. Market research will help you to spot new market and product opportunities, identify issues that could affect your business and even measure the impact and performance of your current marketing campaigns.
As a result you are then better placed to make informed choices and develop a more successful marketing strategy.
Oakbrook Marketing can undertake market research on your behalf, providing you with the business intelligence you need - when you need it. Market research involves a number of methods but fall into two main types - quantitative research and qualitative research.
Need to know more about what your customers are buying or what your competitors are doing?
Quantitative market research uses using surveys and questionnaires to generate informative statistics. For example, how many customers buy a certain type of product. It is gathered using surveys and questionnaires. Some of this research may be with your customers, but can also be much wider to identify new markets or potential for new products.
Qualitative market research has a focus on the reasons behind the facts and figures, to gain a deeper understanding of customers and their purchasing decisions. As a result the methods tend to include focus groups and questionnaires to smaller groups, to reveal the “why” and “how” of decision making. This uncovers the details behind the numbers.
Oakbrook Marketing can also carry out secondary market research on your behalf. This involves the analysis of existing surveys, market reports and business reports, proving valuable intelligence on market size, sales trends and competitor activity.
Analysing and interpreting all of this data is invaluable before developing new products or considering new markets. Oakbrook Marketing will bring this information together in a concise report so that you can make a more informed decision, more quickly and save significant time and money compared to taking a chance.