Quantitative research is the investigation of an issue using numbers to establish meaning for behavior. In the market research world, numbers give insight into consumer behavior, but quantitative research can and is used to explain other kinds of performance, as well. Scientists and analysts in both the social sciences and the natural ones use..
New products come on the market all the time. Some are completely new concepts, but most are additions to or modifications of concepts and product lines that already exist. And while it’s true that extending or revamping old products is usually easier and cheaper than conceiving and developing entirely new ideas, all three types of product..
Customers are at the heart of all business operations. At least, they should be. Research shows that it’s five times more expensive for companies to attract a new customer than it is for them to retain an old one, making it paramount that companies maintain good relationships with the people they already serve if they want to really maximize..
Surveys can be great tools for companies to use when they need to gather data about a large group of people. They are often quick to administer with results that can be generalized in a meaningful way. And with today’s technological advances facilitating a universal connectedness, the online survey, especially, can be a great way for companies..
Having a good product isn’t as much a consequence of reality as it is of perception. Much like magicians rely on illusion to create intrigue, companies build brand awareness to encourage sales, each manipulating “what is” in an effort to promote “what could be” for the people around them. For businesses, in particular, this means that how..
Having a good product or service is only part of a company’s success. A quality offering is important, no doubt, but being able to critically evaluate consumer need and overall market conditions is essential to a company’s ability to survive and thrive in today’s fast-paced, competitive (and often global) arena. To this end, most companies hire..
Spontaneity is a great catalyst for excitement and can spur creativity in unlikely ways, but it’s not exactly the preferred course of action for businesses wanting to bank on their future success. To quote Yogi Berra, “If you don't know where you are going, you'll end up someplace else.” Indeed, relying on calculated plans instead of impulse..
Market research, while often sophisticated in its design, is actually quite simple in its objective: to foster insight into market conditions so that companies can hopefully make better business decisions. Fundamentally, all companies want to reduce their risks and maximize their opportunities, either turning a profit or improving lives,..
According to research compiled by Deloitte, global healthcare spending is projected to reach $10.059 trillion by 2022. An aging population that is larger than previous cohorts means more people will need chronic disease treatment for longer periods of time and more people will ultimately need dementia care each year. It’s a scenario that is..