Posts Tagged ‘value’
Thursday, June 16th, 2011
Executives who lead entrepreneurial firms have dramatically different attitudes about market research from their counterparts at larger established firms, according to a recent study from Saras Sarasvathy, an associate professor of business administration at the University of Virginia.
The study suggests that entrepreneurs are more focused on immediate and practical questions that will help them get their products into the hands of customers, and that traditional market research may not be the best way to get the right data and answers. That makes sense.
But according to an article in the February issue of Inc. magazine, “when asked what kind of market research they would conduct for [a] hypothetical start-up, most of Sarasvathy’s subjects responded with variations on the following: (more…)
Tags: data, insight, Market Research, product innovation, research, satisfaction research, segmentation, tracking studies, value
Posted in Future Trends, Market Research, Methods & Tools, New Products and Innovation | No Comments »
Saturday, January 22nd, 2011
Unless your company has a department dedicated to it, market research can be a hard sell because higher level executives may not believe in the value of research. At Versta, we have a certain sympathy with these executives. In our view, market research in and of itself has little value; it is the outcomes of research—the answers to questions—that can have value.
It is important to distinguish the two because unfortunately there is plenty of research not designed to answer important questions. Research is frequently done because someone has a nagging feeling that they need more information to make better decisions or because doing research is considered a “best practice.” Such research generates lots of data that marketing managers wonder what to do with. Not surprisingly, they and their bosses start to question the value of research.
Our advice is to do market research only after formulating specific questions and information needs and only after you have a clear idea (in writing) of what you will do with the answers to those questions. We have produced a whitepaper entitled The Art of Asking Questions (you can download it by clicking on the image) that outlines a useful process to help you formulate those questions.
The Art of Asking Questions: A White Paper from Versta Research
The key is to articulate five types of questions, including: (more…)
Tags: insight, Market Research, research, Survey Design, value
Posted in Market Research, Presenting Research, Survey Design | No Comments »
Wednesday, May 19th, 2010
Today, an industry colleague (another owner of a market research firm) said to me, “We all lust after those big tracking studies.” For most market research firms, tracking studies are attractive because they involve big samples, multiple ongoing deliverables, and multi-year commitments, all of which means predictable, ongoing (and usually substantial) revenue.
At Versta Research, we lust after them for a different reason: they are the true test of whether our key personnel can really add value and insight to the work that we do. How do you take something routine and predictable, and turn it into an effort that delivers an “Aha” every week? Here’s how we do it: (more…)
Tags: insight, tracking studies, value
Posted in Market Research, Turning Data into Stories | No Comments »
Friday, November 20th, 2009
Five of Chicago’s PR leaders gathered at a PRSA forum this week to discuss current trends and the future of public relations. The discussion was striking in how fully it echoed the trends and challenges facing the polling and research industry, and what we need to do to keep our eye on the ball. Here are a few take-away ideas from that forum that apply to both PR professionals and their research partners: (more…)
Tags: communication, data, insight, journalism, media, Public Polls, Public Relations, research, stories, survey, value
Posted in Future Trends, Presenting Research, Public Relations, Turning Data into Stories, Uncategorized | 1 Comment »
Thursday, October 15th, 2009
Versta Research fields omnibus surveys, and we often recommend such surveys for our clients. But omnibus surveys do no not always save money or offer the insights that are needed, and so we often recommend inexpensive alternatives as well. (more…)
Tags: Data Collection, Internet, Market Research, omnibus, Online Surveys, Public Polls, value
Posted in Data Collection, Online Surveys, Public Polls, Public Relations | No Comments »
Wednesday, August 26th, 2009
It’s fascinating that new survey technology and easy access to millions of consumers could be affecting the focus group industry more than the quantitative survey industry. But a colleague who has been doing focus groups for over 20 years says that’s exactly what she is seeing.
(more…)
Tags: concept testing, Focus Groups, Market Research, moderators, online, Online Surveys, package design, qualitative research., research, survey technology, value
Posted in Data Collection, Focus Groups, Future Trends, Market Research, Online Surveys | 2 Comments »
Wednesday, August 12th, 2009
How to Add Value: Provide Insight and Understanding
In a provocative new book entitled What Would Google Do? author Jeff Jarvis claims that “Middlemen Are Doomed” because the Internet has made information so easy, accessible, and cheap. He argues that the Internet links buyers and sellers directly, and it allows buyers to get information and access to sellers instantaneously, rendering middlemen obsolete. Market researchers are middlemen who operate between businesses who need information about their customers, and the people (their customers and prospects) being interviewed about needs, attitudes, and behaviors. If Jarvis is right, what is the future for market research and public opinion polling?
(more…)
Tags: Data Collection, insight, Internet, Market Research, research, value
Posted in Data Collection, Future Trends, Market Research | No Comments »