Market Research - Symetricx

Market Research

Gathering, analyzing and interpreting information about a market, about a product or service that will be available in that market, and about past, present and potential customers for the product or service; The study of the characteristics of your business’s target market, its spending habits, location and needs, the industry as a whole, and the specific competitors you encounter is called marketing research. Accurate and comprehensive information is the foundation of any successful business venture because it provides a wealth of information about potential and current customers, the competition, and the industry in general. It allows business owners to determine the feasibility of a business before providing substantial resources to the venture.
What is market research?
It provides relevant data to help solve the marketing challenges a business is likely to face and becomes an integral part of the business planning process. In reality, strategies such as market segmentation (identifying specific groups in a market) and product differentiation (creating an identity for a product or service that distinguishes it from those of competitors) are impossible to develop without market research.
Market research includes two types of data:
• Primary information: This is research that you have compiled yourself or hired someone to gather for you. • Secondary information: This type of research has already been compiled and organized for you. Examples of secondary information include reports and studies by government agencies, trade associations, or other businesses in your industry. Most research you collect will likely be secondary. When conducting primary research, you can gather two basic types of information: exploratory or specific. Exploratory research is open-ended, helps you identify a specific problem, and often includes detailed, unstructured interviews with lengthy answers from a small group of respondents. Specific research, on the other hand, is sensitive in scope and is used to solve a problem identified by exploratory research. Interviews are a structured and formal approach. Of these, specific studies are more expensive. When conducting primary research using your own resources, first decide how you will question your targeted group: by direct mail, by phone or in person.
Data and Measurement
Data and analytics provide insight into the experience your brand offers users across different platforms. Get more detailed information about the performance of each of your marketing channels.
28 Different Online Research Models
With our Online Research and Analysis service, you can access 28 different types of online research and analysis, which can include data from both the web and existing customer data, Twitter, Facebook, Instagram, Pinterest, LinkedIn, YouTube, TikTok and other social networks. We research the results of conversations that create big data about your brand, product or current trends of the target audience your brand addresses or any target audience you specify, and reflect them in detail with digital perception or current trend and process analysis. We perform statistical content analyzes that convey the structure of detailed conversation data with quantitative results for our brands. Thus, we reveal both the success of our brands’ communication strategies and how they are defined and positioned in the sector.. With our comprehensive market research, we examine in detail the media value and awareness of our brands compared to their competitors. Likewise, we also offer value and current awareness surveys specific to products and services.
Strategy Action Map
While determining the strategy for the advertising campaigns of our brands, we investigate the perception of the campaign-specific advertisement, brand face or theme according to the brand’s demand. We measure the reflections of advertising campaigns aiming to change the value appraised by brands, their effects on the audience and the awareness rate of these campaigns on the target audience.