Market & Customer Research
Customer is king
Thorough research of the market helps to identify the ideal customer, fresh & obscure market opportunities and consequently enhance your sales performance. The world’s most successful businesses make regular market research the most significant foundation for their marketing and sales planning. Market research also helps to identify the businesses which need overhauling and holistic change in approach.
Market & Customer Research Types
Primary & secondary research and quantitative & qualitative research
The ‘Voice of Customer’ is the most significant arsenal for market research. This is a highly proactive solution as it attempts to capture the constantly changing requirements with respect to ascertaining the extent to which we are satisfying our customer relative to other service or product choices.
We at Seasia make the best use of the ideas that are derived from the ‘Voice of Customer’ research and enhance the current products or develop new ones. Market research deeply involves VOC and VOC studies involve a high amount of qualitative & quantitative research paths. Market research is usually conducted at the very beginning of a new product development or a process initiation to ascertain what the customers exactly need.
Market & customer research is highly valuable towards
1. Making key decisions on pricing, promotion, product & location
2. Understanding the mindset of your competitors and how they operate
3. Gaining knowledge of the current industry environment
4. Understanding how your products or services fit your target market
5. Identifying new opportunities
6. Expanding your customer reach
7. Enhancing your quality & hence your reputation
8. Testing new products or marketing ideas
9. Minimizing risks to your business at all stages of the business life cycle giving competitive advantage in the very beginning itself