Competitive research or competitive intelligence is a field of strategic research that specializes in the collection and analysis of information about rival firms. It’s an essential tactic for finding out what your competitors are doing and what kind of threat they present to your financial well-being. By analyzing your competition and then monitoring them on […]
There are two types of data: Primary Data – Data that is collected first hand by the researcher. This data is specifically collected for the purpose of the study and addresses the current problem. This is original data that is collected by the researcher first hand. Secondary Data – Data from other sources that has been already[…..]
Quantitative Research is a structured way of collecting and analyzing data obtained from different sources. It involves the use of computational, statistical, and mathematical tools to derive results. Quantitative Research is conclusive in its purpose as it tries to quantify the problem and understand how prevalent it is by looking for projectable results to a larger[…..]
Why is it that we can think of more examples of companies failing to satisfy us rather than when we have been satisfied? There could be a number of reasons for this. When we buy a product or service, we expect it to be right. We don’t jump up and down with glee saying “isn’t[…..]
Getting Started The first decision you need to make about competitive research is whether to gather it in-house or go outside and hire a professional firm or consultant. The benefits of hiring a consultant include that they may have more expertise in intelligence gathering that you do. Conversely, the challenge of hiring an outside consultant[…..]
Market research is an essential part of any business that wants to offer products or services that are focused and well targeted. Good business decisions are based on good market research and intelligence. By researching your market thoroughly, you can minimize the risk to your business, identify new opportunities, while helping you communicate better with your[…..]
Before you can make money from your product or service, you have to figure out whom to sell to. It does not matter how innovative or high quality the product is if you market it to a group that does not need it. Market research lets you target a specific group based on their needs[…..]