We carry out market research for companies to elicit people's opinions and ideas. In addition, from the feedback gathered, this will lead to improved business sales.
Market Research can be carried out by email, focused groups, one to one or interviews. All businesses need market research, many big businesses use market research frequently, hence the reason they grow bigger and bigger. Below are some examples on how Market Research is used.
A cake business opened 10 years a go in a town centre location but wanted to launch a new product range of luxury biscuits. They required Market research to gather people's opinions. They used market research, Cheshire Marketing would use groups of individuals to taste the luxury biscuits then they will be asked questions about the products. For example, did you like the taste of the biscuit? which biscuit stood out the most? how much are you willing to pay for the biscuit in a cafe? What could be inproved with the biscuit? From the information gathered, the Cafe owner can make decisions based on what they found out from the market research, for example if a luxury biscuit stood out the most then they may use this as a main feature product.
A business launched a website online, in order to see how easy the website is used, they required market research. Cheshire Marketing would pay individuals to test out the website, follow instructions using the website and then fill out a form in regards to how they found using the website. For example questions would be asked such as, what was your first thought of the website? Could you navigate easily? what could be done to improve the website? From this feedback the business can identify opportunities to improve the website. An objectivie viewpoint from prople who are not part of the business is the best way to gain a true better understanding of what individuals think of the business. Market Research is kept confidential, people who are paid to do market research must upheld confidentuality.
A large supermarket who are well established are requiring individual views on advertisement. For example at Easter, some of the supermaket's competitors perform better with sales at Easter. This supermarket will be launching a new Easter range of chocolate and will be using posters and TV adverts to promote the product. Cheshire marketing would use focus groups to show groups of individuals what the tv advert would like and also a range of posters, we would ask questions such as which poster/advert did you prefer, why did you prefer this poster, what stood out, would you shop there if you saw this advert, why? From this feedback, the supermarket has gained a better undertsanding of what people think and make improved plans ahead.
Upselling. A chain of hot food stalls are wishing to check that the staff are upselling on the products sold, for example, staff selling sandwiches much say would you like to purchase a drink for an extra 50p. This encourages consumers to spend more money. In order to check this is happening, the chain needs Market Research, Cheshire Marketing would carefully select individuals to go undercover into the shop and carry out a task of ordering food, and see if the staff sell a drink on top, known as upselling, this is highly effective for retailers to do this. This is also an opportunity to check on customer service, whether there is enough food displayed, the visual appearance of the shop and check the food looks fresh. From the information gathered, the owner can review and make sure staff are performing at the best.
Advantages of Market research for your business.
Market research guides your communication with current and potential customers.
Market research helps you identify opportunities in the marketplace
Market research helps you minimize risks.
Market research uncovers and identifies potential problems.
Market research helps you plan ahead.
Market research can help you establish trends
Market research helps you establish your market positioning
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