Market research is the process of determining the viability of a new service or product through research conducted directly with potential customers. Market research allows a company to discover the target market and get opinions and other feedback from consumers about their interest in the product or service. Market research, in general, has played a critical role in inducing a thought process in present day’s organizational leaders where information and data dictate policies and decisions.
Understanding the real reasons behind your customers’ choices and preferences might be tricky. As human beings, our emotions, culture, and those around us highly influence us. That is why some questions cannot be simply answered by a yes or no statistic.
Qualitative studies are deep conversations with your target audience digging deeper into the factors that have impact on their choices and accordingly your positioning, sales and market share. Qualitative research methods are designed in a manner that help reveal the behavior of a target audience with reference to a particular topic. At KCG, our qualitative research methods include: Focus groups, in-depth interviews, innovative research methods, observations, projective techniques, and online forums.
With high investment business ventures, statistical data is the only way to go minimizing risk. Whether it’s to take a decision on your product mix, marketing strategy, or sales channels, surveying your current and potential customers is crucial. Organizations are dependent on quantitative analysis for the statistical evaluation of data because it gives systematic, detailed information about the problem at hand or the target audience. After careful understanding of these numbers we are able to predict the future of a product or service and make changes accordingly. To conduct quantitative market research we use the following techniques: surveys, questionnaires and polls and the data collected is evaluated numerically, statistically, and mathematically to form better strategies and marketing plans.
Secondary research is cost effective and that’s one of the reasons that makes it a popular choice among a lot of businesses and organizations. With a surplus of data online and offline, we collect and validate information about your market, or competition from trustworthy sources, taking it upon ourselves to scan the available and published data out there, bringing you a flow of information along with our expert analysis, making it comprehensible and relevant to your research needs. There are many advantages to secondary research since it is a less expensive and less time-consuming process as data required is easily available and doesn’t cost much if extracted from authentic sources. The data that is collected through secondary research, gives businesses an idea about the effectiveness of primary research.
ISO-Certified Quality Assurance
Kemet’s QA processes are officially certified ISO 9001 & ISO 13485. The ISO 9001 standard applies to processes and procedures for maintaining a quality management system, and the ISO 13485 standard applies to medical device companies and their suppliers. This certification is awarded to companies that have successfully implemented a quality management system that meets the medical device industry’s regulatory requirements, with a focus on risk management and strict quality control. Our QA processes are tracked and audited to ensure we maintain the highest level of life sciences translation quality.
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