Qualitative Market Research Analyst & Business Counseling

Market segmentation is the process of partitioning markets into groups of potential customers with similar needs or characteristics who are likely to exhibit similar purchase behavior.

Market segmentation requires a major commitment by management to customer-oriented planning, research, implementation and control.

There are four major benefits of market segmentation analysis and strategy:

• Designing responsive products to meet the needs of the marketplace.
• Developing effective and cost-efficient promotional tactics & campaigns.
• Gauging your company’s market position — how your company is perceived by its customers and potential customers relative to the competition.
• Fine-tuning current marketing strategies

A three-step process is used to develop a market segmentation strategy: 

1. Segment Identification — determining a given number of homogeneous market segments based on selected segmentation variables and criteria. Segments should be customer-focused, a justifiable size, distinguishable, accessible, accountable & profitable.
 
2. Market Selection — selecting one or more groups to target for marketing activity. You must make strategic choices based on customer needs, competitive opportunities, corporate objectives, and your firm’s financial, technical and marketing resources.
 
3. Positioning — carving out a market niche for your firm. This may be accomplished by searching out unique marketing advantages, seeking new market segments that competitors are not cultivating, or developing new approaches to old problems.

The certified professionals of Roe Smithson & Asociados Ltda with expertise in Business and Marketing will be pleased to provide you with our high quality services.

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Roe Smithson & Asociados Ltda  implements the strongest quality controls in quantitative market research, using online, phone and postal data collection methods. Our technology is the most updated and versatile available, and includes advanced online reporting as well as IVR, CATI, and mobile data collection.

Whether you need quantitative or qualitative market research, like online focus groups or bulletin boards, a simple and speedy field survey, or a complex survey with skips, branches and rotations, we have a solution to meet your needs.

Our thought-leading approach provides key knowledge for product development and marketing strategy. Our interviewers are trained to standards that meet rigorous ISO 9001 criteria. We offer our clients a number of benefits:

• High level of data accuracy through live validation, navigation and routing
• Real time reporting and effective quota management
• Ability to enhance or adapt questionnaires quickly
• Increased productivity resulting in a competitive pricing model

Our main market research services include both consumer and business-to-business research, utilizing the following methodologies:

• Face-to-Face Interviewing (In-Home/Street/In-Store/Exit)
• Hall Tests
• Telephone Interviewing (CATI)
• Postal and Self-Completion
• Online Research (web surveys utilizing panel respondents or online customer surveys)
• Desk Research
• Data Processing, Data Tabulations
• Statistical Analysis, Interpretation & Reporting

Leading companies benefit from our insight into their business sector and our expertise. Get in touch to find out how we can help your business.

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There are two ways to look at the process of market research: From a business standpoint, market research is a way to get answers to important questions before investing a lot of time and money creating a new product or service.

From a consumer standpoint, there are many people who enjoy being a part of the market research process. And they can even make a little money by participating in focus groups and surveys.

There really are only two ways to answer marketing questions ahead of time. You can find out directly or indirectly.

Directly : To find out if people like a specific idea, it is necessary to talk to people and see what they are thinking and feeling. The the many different ways to reach people include:

• Calling people on the phone
• Talking to people face to face
• Sending an e-mail
• Sending a letter through the mail
• Assembling people in a group and talk to them

No matter which technique is being used for market research, the goal is to ask a set of questions and get back: A) a set of answers to the questions, and B) new ideas. Part B is important. In many cases you learn things that you never thought about by talking to people.

Indirectly: The indirect way to learn about the marketplace is to look at what’s already out there. How many companies are making a competing product? What are their products like? How do they market them? The fact that there is a competing product tells you that there are some customers out there, and you can access your competitor’s market research by looking at the products your competitor is producing. Assuming, that is, that the competitor did any market research.

Normally a set of questions come up that help you understand how the audience is thinking and feeling about a product. The goal of all of these questions is to gain intimate knowledge of the customers. It is important to know exactly what they are thinking and feeling, and why. Once there’s a list of questions, the job is to figure out the best way to ask them.

With effective market research, it is possible to determine the need for a product or a service, a product’s likelihood to sell, target-market demographics, and desirable store locations. There are numerous ways to uncover this information, from online research to focus groups to counting customers.

The market research  Roe Smithson & Asociados Ltda. carries out offers your business to stay in the loop, keeping in touch with the wants and needs of potential consumers. It can halt production of a product that the public shows little or no interest in, or change it, improve it, or lower the price as necessary based on market research information.

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Market Intelligence provides a company a view of a market by using existing sources of information that will lead to understand what’s going on in a market place, what the issues are and which is the market’s potential.

There are two different spheres of market intelligence:

• Market Intelligence from external data: it is information gathered through desk research to build a picture of a market to try to answer some specific commercial questions such as what is the market potential. The success of such desk or “published” research depends on the ability to track sources of information and to provide the right level of analysis. For example identifying who your competitors are and analyzing their market position against yours to find strengths and weaknesses and indications of new developments.

Related to desk research is list building. This involves seeking out lists of likely prospects or partners for relationship or network building and finding out key information about the company for marketing purposes.

• Market Intelligence based on internal data: Through database analysis you can understand where you have cross-sale and up-sale opportunities, or you can understand what type of customers are your most profitable. By performing cross-analysis and looking for missing data it becomes easier to spot weak spots and points of vulnerability.

The information from your website can be as valuable as the database information as a source of market data.
Web site traffic analysis can help you understand what customers are looking for and why. Collecting and disseminating the information that your staff has about customers, markets and competitors can help businesses focus far more on what the customer wants and says.

Roe Smithson & Asociados Ltda enables its clients to compete more effectively and make better decisions regarding investments, partnerships, and new product launches. Our market intelligence-oriented consulting services help our customers become more competitive.

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Market Research is either quantitative, qualitative, or a combination of both. Qualitative and quantitative market research methods each provide different insights into customer behaviour as well as grounded conclusions. Qualitative market research provides an understanding of how or why things are as they are. There are various types of qualitative market research methodologies that can be summarized as follows:

– Market Research Depth Interviews : It is a single respondent face-to-face or phone interview based on various topics
– Market Research Paired Depths: It is also a depth interview with two respondents where ideas need to be ‘bounced off’ one another.
– Triads: Conducted with three respondents.
– Market Research Mini-Groups: Interview with 4-5 respondents.
– Focus Group or Group Discussions: Conducted with groups of 8 respondents where the benefit comes from the interaction   between the different personalities.
– Market Research Observation: A respondent is observed in its natural environment.
– Workshops: To disclose new ideas and to evaluate ideas

Qualitative market research delivers actionable information and drives effective business and organizational decision-making, it also helps us understanding our clients’ needs and goals with a full range of methods including:

Telephone surveys
Email/Web-based and mail surveys
Focus groups
In-depth interviews
Internet-based
Secondary research
Political polling

As a marketing consultants, Roe Smithson & Asociados Ltda is aware that every client has unique information needs therefore we offer you trustworthy services on qualitative market research based on our experience and our high ethical standards.

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Taking into consideration that the term market penetration is defined as a strategy of increasing sales of existing products into current markets, the analysis of the factors with influence over the costs to achieve the significant market penetration a company is looking for includes:

• The company’s marketing strength
• The possibility of having access to low cost materials as well as to effective production
• The experience of your company
• The consideration of problems related to the introduction such as lack of adherence to industry standards, unavailability of materials, poor quality control, regulatory problems and the inability to properly and sufficiently explain the benefits of your company’s products or services to the prospect.
• The enterprise infraestructure which comprises its organization, recruiting policies, employee benefit programs, customer support facilities and logistical capabilities.
• Distribution effectiveness including history of relations, the extent of channel utilization, financial stability, reputation, access to prospects and familiarity with your products or services
• Technological efforts
• Availability of an adequate operating capital

The strategy of market penetration is considered as the possibility of growing through achieving a higher market participation on the products and the markets the company currently operates. There can be three different ways to carry out this strategy of market penetration:
a) the current clients purchase more of your products and services
b) attract clients from your competitors
c) attract new potential clients that are not actually consuming your products or service.

This is a strategy of market penetration may take place by means of internal growth, which means by opening new stores, or by means of external growth by purchasing or joining competitor companies. The strategy of market penetration is highly used by commercial distribution companies as it means a lower risk because it has to do with running the basic business and the company has great knowledge about it.

Roe Smithson & Asociados are specialists in market research in South America in different approaches to the modelling of the market penetration of new goods, processes and brands as well as it explores the major factors in the decision-making process by which customers select one brand over another. It also measures the depth of consumer preference and satisfaction for the benefit of your company.

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