EPSI Data Collection Services – Importance Of Types Of Market Research

When we talk about the consumer, if they see an ad for a product or service that seems to be perfect for them then they will rejoice over their luck. Companies make these scenarios possible through proper strategic market research. Market research will offer valuable information about the target market so that the company will be able to develop services and products that look appealing to consumers.

Now, let’s know about market research here.

What Is Market Research In A Business?

Market research involves gathering data so that the business can learn more about the target demographics and the audience so that they can make an informed decision which will be effective and ultimately help the business succeed.

Market research is a vital part of any business strategy whether the business is B2C or B2B type, big or small, new or old. The research will offer the answers to all the questions the business has to make the right decisions so that they can make the right decision based on the data.

But handling the market research along with the business operations will be a difficult task. Knowing this, many companies offer market research services which are offered at an affordable price which makes it the best choice to hire.

You can use the EPSI data collection services to move the business toward the success path. When you need to identify the market trends then you can carry out the market research and achieve a long list of important business goals. To achieve the business goals, the results from the market research will help you in many ways.

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Types Of Market Research You Can Carry Out Using The EPSI Data Collection Services:

When we talk about market research, know that it is a broad category. In fact, there are many varieties of market research that you can use to meet specific business goals. Here let’s know about different types of market research.

1.Brand research – Brand research is usually focused on creating and refining the company brand to make a courageous and favourable impression on the target market. You can know about the level of brand awareness among the target audience and how loyal are the customers to your brand. Also, you can know about the qualities that the people associate with your company and other aspects of market research services. Especially you can understand the relationship of your company with your target audience.

2.Evaluation of marketing campaign – This type of market research especially focuses on knowing the effectiveness of the marketing campaign. You will be able to evaluate how many people have seen your ads or the click-through rate and many more. This information will help you create the next better campaigns that will help you get better results.

3.Competitor research –Competitor research will focus on the competition that will help you gain valuable data that will help your company move ahead of your competitors. You can learn their strengths and weakness and understand how to improve your business and make it stand out in the competition.

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What Are In Depth Interviews And How Are They Useful For A Business?

In depth interviews can be defined as an interaction and a dialogue between two people, in which the researcher formulates certain questions related to the subject under investigation, while the investigator verbally provides the information that is requested.

The in depth interviews is part of the CATI Research Methodology. It is an unstructured and direct technique to obtain information. A qualified expert interviewer interviews a single person to freely obtain their thoughts, beliefs, attitudes, feelings, dreams, and motivations, about a certain topic. It is directed towards understanding the perspectives that the interviewees have regarding their lives, experiences, or situations, expressed in their own words.

CATI Research Methodology Is Recommended For:

  • For product test cases where it is required to know in depth the experience of confidential, delicate, or embarrassing topics (Example dentures), situations where there is a rigid social norm where the interviewee can be easily influenced by the group)
  • Difficulty in recruiting groups, difficult to get people to a place, very busy people. In this case, it is easier to make an appointment with the interviewee, at her office or workplace.
  • Complex behaviours where deep knowledge is desired, for example, purchasing process or decision making.
  • Competitors from the same sector, where it is not feasible to bring them together for a focus group.
  • Potential customers.

In Depth Interviews- Types Of Techniques Used:

  • Free or non-directed interview – The interviewee does not use the interview guide in a specific way, he simply directs the interviewee towards the areas of interest of the investigation. It must be controlled so that the interviewee does not deviate too much from the topics to be discussed.
  • Semi-structured interview – The guideline of the interviews with specific questions is followed. The order and duration of the questions depend on the development of the interview itself. This must be as natural and fluid as possible.

The script must be structured based on the hypothesis and the objectives of the research, it must include an introduction where the interviewer discloses the purpose of the interview, its structure, and its scope. The interviewees need to be clear that all the information obtained will be analyzed carefully and carefully, always bearing in mind the confidentiality of the information obtained.

The Script Must Contain All The Topics To Be Studied.There Are Different Types Of In Depth Interviews, Among Which The Following Stand Out:

  • Escalation-  In this type of interview, it is a question of advancing the characteristics of the object of investigation, finally coming together in the main focus of interest of the study.
  • Symbolic analysis – The interviewee will attribute a meaning to a series of objects or attributes that the interviewer will develop throughout the interview.
  • Biographical interview – Very extensive, it can cover several days or even months, and in which the interviewee has to recount his vital experiences developed in different phases throughout his life.

If handling this research on your is difficult, contact EPSI data collection services today to make the data collection and marketing research easier.

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