Archive for the 'Qualitative market research' Category

Published by Roe Smithson & Asociados Ltda in Santiago Chile on 15 Dec 2009

Telephone Interviews

telephone interviewsObtain fresh and unique information that cannot be gathered elsewhere 

Through telephone interviews an interviewer will contact people via a telephone call and ask the questions over the phone. These people may be contacted at random or you may target certain locations, customers, etc if your questionnaire is directed towards specific people or areas. Once again, the interviewer will record the answers to the questions as they ask them over the phone.

Telephone interviews report certain advantages for marketing research studies:

• Quick and easy to perform
• Can cover a wide region of the population
• Higher response to postal questionnaires (see c)

Telephone interviews may also have disadvantages, such as:

  • People do not often trust telephone interviews
  • Questionnaires have to be kept short to maintain interest and co- operation
  • Interviewees have little time to think
  • Expensive although the expense is usually less than personal interviews

The proper structure and development of a questionnaire for your telephone interviews may mean the difference to gain a response that can be used for an accurate analysis and constructive feed back.

Roe Smithson & Asociados Ltda uses the questionnaires to find people’s opinions on their existing or proposed products/services during telephone interviews, and then analyze the results. It will then be an important tool of market research to determine the following key points:

  • The likely performance of a product /service -demand
  • The buying behavior of customers
  • Customer attitudes towards existing or proposed products
  • Customer awareness of a product/service/business

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 19 Oct 2009

Market Research Methods

Market Research MethodsAlthough there are many ways to perform market research, most businesses use one or more of five basic methods: surveys, focus group, personal interviews, observation, and field trials.

Various market research methods are used to find out information about markets, target markets and their needs, competitors, market trends, customer satisfaction with products and services, etc. The type of data you need and how much money you’re willing to spend will determine which techniques you choose for.

Market research methods are divided into the following categories:

1. Questioning:

  • Qualitative marketing research – used for exploratory purposes. This method gathers non-numerical data from a relatively small number of participants. The data is not analyzed using statistical techniques, but summarized and interpreted by researchers. The most common methods employed in qualitative research are focus group interviews and in-depth interviews.
  • Quantitative marketing research – used to draw conclusions . It covers all projects in which numerical data is either directly aimed for or used in the process of providing final answers. A survey that asks a series of closed questions is a typical and probably most popular quantitative research method.

2. Observation:

  • Ethnographic studies – Examples include product-use analysis and computer cookie traces
  • Experimental techniques – Examples include purchase laboratories and test markets.

Specific market research methods are designed to balance data quality, direct costs, professional fees and timeframe. The methodology should take an approach that is replicable, manageable and as economical as possible given the research objectives.

Market research is an important tool that supports business decision making. Whether you’re deciding to expand internationally or create a new product, let Roe Smithson & Asociados Ltda help you gather the data you need to make your next business be a success.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 21 Sep 2009

Marketing Plan

marketing planRoe Smithson & Asociados Ltda takes the time to understand your business’ goals, and then custom build an integrated solution to help you achieve those goals by means of a marketing plan, among other market research strategies.

A marketing plan is usually part of a larger business plan that includes production, financial, staffing and management plans. A marketing plan alone does not guarantee success, but it does indicate that many of the factors that affect the profitability and continued survival of a specific business have been given consideration.

Let us help you with developing a business or marketing plan!

Some important elements of a marketing plan are:

  • Marketing situation— Made up by a summary of your business’ present situation, what is it currently selling and how, who are its customers, which are their needs, your business’ competition, your business’ strengths and weaknesses, how is your product being promoted, what the current marketing trends are, etc.
  • Marketing objectives— Include a summary of the business’ short and long term goals, product diversification, additional market segments to tap. Objectives should be realistic and measurable.  Objectives are a dynamic part of the planning process and change depending on the market situation and competition.
  • Marketing strategies— These are ways to achieve the business’ goals, what will it produce, how the new products will be promoted and advertised, the channels of sale, which are the plans to beat your business’ competition.
  • Budgets— Include estimated costs and return based on sales, and strategies for monitoring and curtailing costs.
  • Action plan—Immediate steps to be taken. 
  • Evaluation— Contains a summary of progress on marketing objectives. The frequency of evaluation depends on the plan and could be each month, every six months or annually.

The results of the marketing plan are designed to help make informed and profitable decisions every time. We offer qualitative market research consultancy to clients in: Lima  (Peru) – Buenos Aires (Argentina) – Santa Cruz (Bolivia) – Sao Paulo (Brazil) – Bogotá (Colombia) – Montevideo (Uruguay).

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 31 Aug 2009

In Depth Interviews

in depth interviewsIn-depth interviews are often an initial part of the market research process that allows the researcher to understand issues in depth before moving onto quantification.

They are excellent for exploration and understanding the underlying motivations, beliefs, attitudes and feelings of respondents on a particular subject. They provide opportunities for probing deeper issues, uncovering hidden aspects of the subject and also allow flexible adaptation of the interview script.

As a one-to-one qualitative market research technique, Roe Smithson & Asociados Ltda uses the in-depth interview in both business to business and consumer market places to help understand opinions and perceptions. We have great experience in conducting in-depth market research face to face or telephone interviews with consumers or businesses.

Our in-depth interviews provide reliable research which is turned into practical and actionable business solutions, insightful recommendations and marketing/business strategies.

We take pride in being efficient and problem-focused, delivering solutions beyond diagnosis. We set out with a business perspective in mind and deliver actionable business recommendations.

Our fully equipped company allows us to carry out qualitative research and our skillfull representatives allow us to deliver the final product, fast, accurate and at very competitive prices.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 04 Aug 2009

Market Research Services

Market Research ServicesRoe Smithson & Asociados Ltda provides marketing and market research services to businesses throughout Santiago, Chile – Lima, Perú – Santa Cruz, Bolivia, Sao Paulo, Brasil – Bogotá, Colombia – Montevideo, Uruguay – Buenos Aires, Argentina.

We can help clients develop better brands by enabling them to truly understand and connect with their key targets. The results of the market research services are designed to help make informed and profitable decisions every time.

Also, the comprehensive market research services to businesses are designed to be cost effective for everyone. The service is designed to ensure clients mazimize their investments in new services and markets as part of their strategy to provide cost efficiencies, helping clients to increase revenues and maximize profits. These services include:

  • One to one marketing consultancy sessions, either face to face or on the phone.
  • In-house team brainstorming sessions to kick-start your marketing planning.
  • Confidence to write your own marketing materials.
  • Confidence to build and manage your own website.
  • Market research with your clients including online surveys where appropriate.
  • Help using Microsoft Excel and PowerPoint packages to greatest effect.

Our clients may require a full service approach, including the initial proposal through to fieldwork and the delivery of the results, or they may require resources for a particular aspect of the project. Whichever, our company is happy to fit in with your individual requirements. The project management is conducted by experienced staff, ensuring projects are delivered on budget and on time, to the highest quality standards.

Roe Smithson & Asociados Ltda has a wide customer base due to our experience across a wide range of industry sectors and can apply research expertise to any sector of interest. Clients rate our professionalism, responsiveness, research designs, and results as tops.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 06 Apr 2009

CATI Interviews

CATI InterviewsThe CATI – Computer Assisted Telephone Interview- procedure used by  Roe Smithson & Asociados Ltda  is a rising quantitative research method for data collection.

It is a highly standardized method of telephone interviewing, in which the interviewers read off the questions from a computer screen and type the answers directly into the computer as they proceed with the questioning. For many years now, telephone interviews have played a greater role in market research than face-to-face interviews. Some of the advantages of CATI interviews are:

  • Shorter field times
  • Lower cost
  • Higher sample exhaustion due to repeated contact attempts
  • Better interviewer control
  • Less error-prone due to omission of the data-recording phase after the interview
  • Chance to react to weaknesses in the data collection method during the field period

CATI interviews are particularly suitable for:

  • Highly standardized surveys
  • Surveys that would normally be limited or not possible at all with the conventional paper-and-pencil method due to complicated filtering
  • Studies with a very small and precisely-defined gross sample, as the system always stores the reaction to a successful connection and relays the telephone numbers back to the individual work stations after a predefined period of time
  • Surveys with complex quota samples, which are continually checked by the system
  • Studies with difficult target groups that can be contacted via CATI at less cost and more specification

Roe Smithson & Asociados Ltda provides its clients an extremely cost-effective CATI interview method that assures them fast, accurate and usable market research.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 21 Oct 2008

Competitive Intelligence

competitive intelligenceIn order for a business to stay competitive it is necessary for it to constantly analyze the existing market for any relevant changes. In addition, for  a business to survive and to be successful, it shall adapt to any changes in the market.

The key is to gather and analyze information about the market and about your business’ competitors for sources that are open to the public. This process is called Competitive Intelligence.

This process is much more than merely gathering information. It is not only necessary to know where to go to find the data but it is also necessary to interpret it. The continuous change of the market makes also necessary to have a way to gather the data on a constant basis. Once the data is taken, is analyzed and the business owner learns how to use it to increase its knowledge about the company and the market, then he will be engaging in Competitive Intelligence.

There are different types of Competitive Intelligence tools and techniques:

  • Contacting Government Agencies can yield valuable data but may often require excessive lead time.
  • Searching Online Databases is a faster method of finding competitive information, although it is more expensive. Database search does not provide information that has not been released to the public or that has not yet been collected.
  • From companies and investment community resources – Some types of data that are not widely available from databases can be procured by contacting the corporation itself or from investment community sources.
  • Surveys and interviews – Surveys can yield plenty of data about competitors and products, while interviews can provide more in-depth perspectives from a limited sample. – Drive-by and On-site observations of the competitor’s parking spaces, new construction-in-progress, customer service at retail outlets, volume and pattern of suppliers’ or customers’ trucks, etc. can yield useful Competitive Intelligence information about the state of the competitor’s business.
  • Competitive Benchmarking is used for comparing the organization’s operations against those of the competitor’s.
  • Defensive Competitive Intelligence involves monitoring and analyzing one’s own business activities as the competitors and outsiders see them.
  • Reverse Engineering of competitor’s products and services may yield important Competitive Intelligence information about their quality and costs.

This is an important process because without the proper knowledge to back any business decisions, an organization will be at risk for losing money. Therefore, to avoid failing to take advantage of a current trend, so your competitors could reap the benefits and might leave you out, talk to our group of capable professionals at Roe Smithson & Asociados Ltda that will carry out the process of Competitive Intelligence for you including a series of steps such as data collection, organization, analysis, application, etc.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 29 Sep 2008

Focus Groups

focus groupsFocus groups are a powerful means to evaluate services or test new ideas as it is possible to obtain a great deal of information during a focus group session such as:

  • Information on how groups of people think or feel about a particular topic.
  • A greater insight into why certain opinions are held.
  • Help improve the planning and design of new programs.
  • Provide a means of evaluating existing programs.
  • Produce insights for developing strategies for outreach.

There are three phases in conducting a focus group :

1. Conceptualization – Includes the determination of a purpose, a target, and the development of a plan.
2. Interview – Includes development of questions, moderating skills and participants.
3. Analysis and reporting – Evaluation of the results of the discussions as well as description and presentation of the meaning of the data.

According to the knowledge and expertise of Roe Smithson & Asociados Ltda. some of the advantages of focus groups are:

  • Individuals come together and express diverse views on the topic: useful not only to find the range of views, but also for the participants to learn from each other, and to generate a sense of social cohesion.
  • Relatively easy to undertake. Generally requires less preparation and is comparatively easy to conduct.
  • Provide data more quickly and at lower cost.
  • Researcher can probe for clarification and solicit greater detail as it allows clarification, follow-up questions.
  • Data uses respondents’ own words; can obtain deeper levels of meaning, make important connections, identify subtle nuances.
  • Very flexible; can be used with wide range of topics, individuals, and settings.
  • Results are easy to understand and more accessible to lay audiences or decision-makers than complex statistical analyses of survey data.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 12 Sep 2008

Mystery shopping

mystery shoppingMystery shopping is a performance evaluation process that allows the owners and managers of service organizations to really understand how their customers are treated in their shops, offices or practices, on the telephone, in writing or online. By learning about its customers a company can:

  • Improve its customer service
  • Improve its product knowledge
  • Improve the communication of promotions and new product launches
  • Improve the selling skills of its employees

As a business intelligence consulting company, Roe Smithson & Asociados Ltda offers customer experience evaluations (mystery shops), market research, compliance audits, reward programs, competitor shops, pricing audits, business verifications, physical inspections and merchandising.

We specialize in designing and implementing tailored performance -measurement programmes, which will provide you with the feedback you need regarding your customer-facing staff. The research may be undertaken through a single service or, increasingly, across a number of services to ensure that an overall picture emerges.

Our service works in partnership with your business to increase your customers’ positive experiences and boost your sales. We will help you build and develop a valuable research program in an honest, objective and ethical manner.

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Published by Roe Smithson & Asociados Ltda in Santiago Chile on 02 Sep 2008

Market Intelligence

intelligence marketimgMarket 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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