What is Market Research?
Market Research is powerful tool commissioned by industries to gather information, thoughts and opinions from existing and potential consumers.
In the world of Market Research there are many different forms in which research can take place:
- Focus groups (in person/online)
- Face-to-face interviews (in person/online)
- Telephone interviews
- Online surveys
- Workshops (in person/online)
- Product placement
Focus groups, face-to-face and telephone interviews are the most common. A typical focus group consists of 6-8 people lasting from 1-2 hours; face to face or telephone interviews are approximately 20-45 minutes.
A workshop will be a brainstorming session within a group environment that can last anything from 3-6 hours. Online surveys are becoming an increasingly popular method, in which respondents simply complete their task via Smartphone, Tablet or Laptop/PC.
Research tasks can also be in the form of product placements. You will be provided with a product/s then asked for your open and honest feedback to ensure the products development into the market.
The topics researched are extremely varied examples of the topics could be, everyday household products, financial services, public transport, holidays, mobile phones, high street fashion etc.