In the Midst of The Market Researchers
The key to understanding market research – from focus groups to writing a report, for most people outside of the industry, market research can be just as hard to explain as what makes the world go round, but working with the researchers day in, day out you start to feel a greater appreciation for those who go out there and find out what you want.
Market research is not as plain sailing as we all might believe, with stringent codes to follow like the MRS Code of Conduct or in some cases, such as ours, the ISO rules and regulations, researchers have more work to do than most, with the actual research in hand, job costing and recruitment, digging behind the scenes of new products, vehicles or advertisements, the researchers do all the leg work in ensuring what consumers want, they get. The unsung heroes.
The general idea of market research is the belief that interviews take place on the street and a thumbs up or thumbs down on a new product due to be launched, however as a researcher of researchers and almost three years amongst them I have a different perspective on what they do, why they do it and the methods behind it. In their mind’s it seems it is all about making a difference in the world of others not only in the hope of leading the client to success but the buyer to satisfaction. Whilst working alongside the researchers it has become clear to see that they are the happy medium between the potential profitability of a business concept but also the satisfaction of a consumer, negotiating between the two to discover a sought after product or service at a price worthwhile for the vendor in the long term, all whilst travelling around the globe just to get a variety of opinions, with no part of the world too far nor plane journey too long, the researchers stop at nothing to get the real truth.
Working with the researchers gives a greater insight into how products are tested, how each international market is understood differently and how surveys are conducted. Not only is research about getting to the bottom of what is currently on trend or the latest sought after items but it is about the reasons behind consumer choices of product and decision making when it comes to colours, design and brands but also key psychological elements and contributing life factors like how consumers live, the current economic climate and current trends.
With their neuroscience, psychology and statistical backgrounds, the researchers use their powerful intellectual knowledge and collaborate in order to analyse findings and seek the most effective result, those are just a few basic things I have learnt over the years. Throughout my time with the market researchers the main point I have learnt whilst in business is that research matters. Market research is instrumental in developing as a business and allows you to adapt in a constantly changing environment to keep relevant to your market.
For more information, please contact Chloe Hutchinson-Brown by email at firstname.lastname@example.org or by phone at +44 (0)20 7259 1771.