Market Research Basics
You’ve heard us say that we believe in brands, causes and initiatives that strive to have a positive impact in people’s lives. But did you know that Amélie Company is also an agency that is firmly rooted in market research? We believe that data, analysis and insights provide fertile ground where the seeds of creative inspiration are sown. Market research generates incredibly useful information to help make marketing and business decisions.
We often use it to inform decisions such as:
- Identifying & Evaluating Opportunities
- Analyzing Market Segments & Audiences
- Selecting Target Markets
- Planning & Implementing Marketing Mixes
- Analyzing Marketing Performance
- Performance Monitoring Research
In terms of the different types of market research we perform, both primary and secondary are within our capabilities. Primary research involves collecting information from sources directly by conducting interviews and surveys, and by speaking directly to customers and established businesses. Secondary research, also called “desktop research,” involves collecting information from sources where the primary research has already been conducted, such as industry statistics, market research reports, newspaper articles, etc. We also perform non-traditional market research such as crowd immersions, product placements and ethnographies.Some of our most commonly used market research tools are focus groups, along with online surveys. This combination is quite popular because it provides both quantitative and qualitative findings at a reasonable cost. With an online survey we can reach a significant number of people in our target audience and compile numerical results for attitudes, awareness or usage, for example. In a small series of focus groups we have the opportunity to dive deeper to understand why things are a certain way. This complementary duo often produces highly actionable data and insights that we can then apply to the campaign development process.
At Amélie Company, we’re able to conduct focus groups in our custom facility that is fully equipped with audio/video and internet capabilities. Our clients are able to virtually attend focus groups via streaming video.
In summary, market research uncovers the beliefs of our many target audiences and provides a strong foundation for us to believe in the clients we serve.
Click here for a free download of Market Research 101.