Considering expanding into an overseas market? If so, you will need to do international market research, and this involves many different methods. A customer’s response to your marketing research can make the difference between success and failure. This is particularly true when your product launches overseas. When you enter a market with different cultures, customs, languages, laws, and infrastructure, all […]
Adolescents and young people may have a bad reputation in the world of research. Researchers often don’t know how to approach and engage with them, and thanks to their notoriously short attention spans, it’s no surprise that researchers can find it difficult to target younger generations and ever more. -May even have to contend with low response rates. However, Millennials […]
So, you have a product idea. Before you jump into the manufacturing, there are a few factors to consider that can ultimately affect your sales when launching a new product. For reference, studies have shown that the failure rate of new products ranges from 70 to 80%. Even the biggest brands miss out on products from time to time. Thankfully, […]
To create a solid business plan for the short term, it’s important to keep track of where your target customers’ preferences, attitudes, and behaviors are going in the long term. Adding market research to your 2022 budget will help your team make informed, data-driven decisions for better marketing, sales and operations strategies. Here is a brief overview of upcoming market […]
Customer surveys are an important part of any business. They help you collect feedback from your customers and learn more about their needs and wants. Providing a positive customer experience has increasingly become a top priority for businesses and studies show that 2022 will be no different. The driver here is that 86% of shoppers are willing to pay more […]
A qualitative research interview (often called an in-depth interview or IDI) is an excellent method for digging deeper on a topic, product, service or brand. Their objective is to ascertain mindset and belief as a whole whereas quantitative surveys aim to measure. When determining the best type of market research to use for the purposes of your study, it is […]
Market Research. Do I need to invest in it? Why do I need this? What can this answer for me? What will I get for ROI? How do I know if I need it? Unlike marketing or advertising, market research is a very specialized and specialized service provided by a small number of firms in local and regional markets. Since […]
4 Benefits of Conducting Competitive Research Never underestimate your competitors. Yes, there are many important factors involved in building a successful brand – but perhaps one of the most important is keeping an eye on competing businesses. Why? You want to be able to differentiate yourself from rival companies to assure existing customers and prospects will choose you as their […]
Designing a research project takes time, skill, and knowledge. If you don’t approach the process with a clear goal and methods, you’ll likely end up with skewed data or a wrong picture of what you were trying to achieve. At Philomath Research, we simplify your data collection process. While it is important to use proper methodology in the research process, […]
“Improve your market research with these 10 essential tips! Learn how to gather more accurate and actionable insights, identify key trends, and make better business decisions. Whether you’re launching a new product or trying to stay ahead of the competition, these tips will help you conduct more effective market research.” Market research is so important that it can mean the […]
