Tag: market research tools

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3 Reasons Why Market Research Services are Crucial for Businesses

Why are Market Research Services  Crucial for Businesses?

#1. Helps you understand your customers better

By leveraging market research services, companies can do the market feasibility study and map out the complete profile of their potential customers. This can help businesses determine the market size and factors triggering the buying decisions. Additionally, market research data helps companies to create effective tailored marketing and pricing campaigns.

#2. Improves approach to market trend analysis

Today companies cannot afford to take shortcuts when it comes to leveraging market research services as the competition is fierce and in-depth study of market research data is important. Any change in market trends can affect the revenue and therefore, trend analysis can help businesses understand the ongoing trends driving the buying decisions of customers.

#3. Helps in competitor analysis and their approach to market

Market research services can help you understand your competitors and generate smarter insights and take real-time decisions. It offers a detailed analysis of how they approach the customers and what is their strategy to sell the products or services. Furthermore, it helps you in finding out the new market entry and effective international market research.

It's never too late to consult an expert. Know more about Infiniti’s data-driven solutions for business.

#4. Lower Business Risks

By leveraging Infiniti’s market research services, businesses can ensure to mitigate risks in the international market as well as domestic market. After the unexpected rise in business complexities post the financial crisis has increased the importance of adopting a comprehensive risk management strategy and market research services can offer that. With financial markets, supply chains, and trade functions getting linked to each other, risks can arise unexpectedly. This is where leveraging market research services can help to identify the risks that can easily be mitigated.

Growing a business amidst aggravating market competition is a difficult task. It requires developing an understanding of your customers, their spending habits, competitors’ products, and much more. Request for more information on how our services can help your business

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Exploring the frontiers of manufacturing with Market Research

Market research involves systematically gathering comprehensive data about a market. The results of market research, which are usually summarized in a report, are then used to help business owners make more informed decisions about the company’s strategies, operations, and potential customer base. It also plays a critical role in analyzing industry shifts, changing consumer needs and preferences, and legislative trends, among other things, can shape where a business chooses to focus its efforts and resources. That’s the value of market research. Market research is cardinal to all industries, but it is particularly vital and indispensable for manufacturing companies. This is primarily because for manufacturing companies the costs and consequences of making misinformed decisions can prove to be fatal. Moreover, any wrong decisions can be catastrophic especially in cases such as new product launches, entering new markets, and acquiring businesses. In this blog, manufacturing industry experts from Infiniti Research have discussed some of the key factors that make market research pivotal for manufacturing companies:

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Gain a high spot during B2B sales cycles

In the case of manufacturing companies, the duration of a B2B cycle can range from a few months to a year. Using an effective market research study, players in the manufacturing industry can identify and analyze methods and content including eBooks, videos, and demos that will engage prospects, and keep them top-of-mind across the buyer’s journey.

Identify buyer personas

A buyer persona is a hypothetical representation of your ideal customer based on market research and real data about the company’s existing customers. Market research facilitates manufacturing companies to identify each of the buyer personas that they are likely to encounter. This encompasses the procurement managers, heads of production and engineGet More Infoering, production line workers, quality managers, health and safety managers, technicians, and field engineers. Manufacturing companies can then build strategies that engage and impress each of them accordingly.

Discover unavailable information

Although secondary sources of collecting data often prove to be quite useful, there are several cases where a market research report that is customized to provide the required insights for manufacturing companies prove to be more valid. These reports provide manufacturing companies with the insights required to make informed business decisions regarding aspects like differentiation, customer experience, new products, product evolution, segmentation, channels, market opportunities, and market sizing.

Reduce risks

Risk mitigation is one of the primary factors that decided the success or failure of manufacturing companies. Companies that replace more unknowns with knowns when compared to their competitors, put themselves in a position to reap substantial and sustainable gain. Market research replaces speculation and assumptions with hard data and reliable evidence — which, in both the short run and long term, can make all the difference between thriving and struggling.


Get in touch with our market research experts for more insights into the manufacturing industry

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Why Market Research is Instrumental in the Healthcare Industry

What is market research? 

Market research is concerned with analyzing and interpreting data in order to gather information and knowledge that is conducive for predicting future events, actions, or consumer behavior. Forward-thinking companies have realized the importance of market research in understanding and interpreting an increasingly complex world and thereby developing a successful business plan.

Importance of market research in healthcare

Data accuracy and credibility

Using market research, healthcare companies can prove their credibility in providing accurate data and reports and further understand the effectiveness of their products and services. There are two main reasons that prove the importance of market research in healthcare. The first reason is as mentioned earlier, to serve as an analysis of the data available in the marketplace. Secondly, it is beneficial to collect feedback, opinions, and testimonies from the patients to make the accurate reports, that would help healthcare providers understand the effectiveness of their products and services.

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Understand patient needs

Apart from acting as a tool to provide accurate data for healthcare marketing campaigns, the importance of market research in healthcare also lies in the fact that it is a crucial element in creating the right products and services that will suit the patient’s needs. It doesn’t make sense for healthcare providers to mass produce a certain type of medicine for a disease that only a small number of people suffer. Rather they can channel their reGet More Infosources to develop medicines that could cure the diseases which are rampant in the society at present. Another key importance of market research in healthcare is that it acts as an ultimate tool to measure what particular products and services are most profitable in the market.

Determine the marketing mix

In today’s highly competitive market, healthcare companies must have the right marketing mix in order to be successful. Marketing mix includes the marketing methods, products or services’ price, and distribution channels. These are relevant details that attract potential customer to buy a company’s products or avail their services. Another importance of market research in the healthcare industry is that it takes into account the precise analysis in order to get the marketing mix right. Without this healthcare industry find it difficult to promote health products and services by creating the best proposal to suit the needs of the target customers.

Why Infiniti?

Today it has become imperative for companies to unfold the real power and importance of market research to boost profitability and make the most of existing market opportunities. With over 15 years of rich expertise in various industries, our qualitative and quantitative market research solutions have helped businesses to boost their profitability by augmenting sales and targeting the right audience. Get in touch with us for unparalleled market research solutions.

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Market Assessment

Top 4 Market Research Tools That Will Take Your Business to the Next Level

market research toolsWe all are creatures of habit and we hate change. In fact, research shows that all of us exhibit similar buying behavior irrespective of our varied preferences. People, in general, despise change and our reluctance to change makes it an extremely difficult for companies to convince consumers to switch brands. It is in this context that that importance of market research tools becomes clear to businesses. Market research tools are priceless for business owners since they help predict consumers’ buying behavior and prevent instances of failed product launches. Market research tools give businesses give an edge, mainly due to their ability to measure the impact of initiatives, create an open communication loop, and make data-based business decisions. Such tools also help businesses predict product or service launch failures and take a call on whether to launch new products or remove existing product lines.

That being said, let’s take a look at some of the best market research tools that can help you drive and improve business value:Get more info

Consumer interviews

One of the most commonly used market research tools is consumer interviews. One-on-one interviews with current or past consumers can be done through a web conferencing software or over the phone. In this step, one of your company’s representatives will have to speak to a customer to get honest feedback about the product’s pricing or design. Consumer interviews are one of the most effective market research tools available today. They help companies to get opinions on sensitive topics, which they might not be able to discuss in an open or group setting.

Consumer surveys

Surveys are an important part of every market research process and are one of the most popular market research tools available for businesses. They help collate information, opinions, and ideas of the consumers. Surveys can be carried out online or distributed by a person or by email. The best part about this process is that it’s completely anonymous, so consumers can be as honest as they like. Surveys can be of various formats, such as multiple choice, long, and short formats. To get the most out of such market research tools, offer your respondents some incentives like gift certificates or coupons.Get more info

Focus groups

If you are unsure of what marketing messages to send to your potential consumers, focus groups are the right strategy to follow. Such market research tools help businesses in developing a pricing strategy for the goods or services being offered. Usually, focus groups are formed after a product is released and are made up of people who represent the target segment. In some ways, they are similar to consumer surveys but consist of at least six respondents, who give honest feedback about the product or service being offered. One thing to remember here is that every focus group requires a moderator who streamlines the discussion and submits the findings in a report format to the decision makers in your business.

Social media and online content

Today, with social media channels and blogging platforms gaining popularity among consumers, it has become important for businesses to leverage such platforms to get feedback about their goods or services. Market research tools such as this give consumers the option to express their opinion without a survey or consumer interviews. When it comes to social media, consumers are more than willing to share their honest opinions. Companies can also leverage online polls to gain better insights. Google Alerts is one of the best market research tools to find out what’s being said about your products or services on online channels.


To know more about specific market research tools and their benefits: