Market Research Consulting is critical in today’s competitive world – with many MNCs
entering the Indian market, aiming to increase their market share and raise
their profit percentage. This has obviously given tough competition to the
Indian entrepreneur to improve their products/services in the market and be at
par with their competitors.
After joining Coral Research Services, a , I understood that merely producing best
quality products / services will not increase the market share of a company.
That is, of course, the bare basic thing to do. Besides the obvious, targeting
the right consumer for their products/services, creating positive image of the
company / brand in the consumer’s mind, understanding market trends, presenting
/ advertising products & services to the targeted consumers in such a way
so as to reflect the benefits desired by them – all are important factors that
determine the success of a particular product / service. In the long run, these
help in the growth and stability of a business organization.
Thus, for finding out all the above said things, it is very
important to do market research from time to time.
I must share the various type of research that I have come
across during these years which is done for companies to find out the desired
results:
- Communication Development Study
- Product Development Study
- Usability Test
- Consumer shopping behaviour
- Packaging Development Study
- Category Understanding Study
- Ethnographic Study
- Exploratory Study
- Consumer Profiling Study
- Moments of Usage & Consumption
- Brand Image Study
We, at Coral Research Services, also have quantitative
market research partner. A company goes for quantitative study when
they have particular questions in their mind and they want answers pertaining
to those questions only. Thus in quantitative research, company already
project results based on present market trends and then expand those projected
results to a larger population.
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