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The importance of surveys in market research cannot be understated. Surveys help businesses understand customer needs and preferences, develop new products and potential target markets, and track trends in customer behavior. Surveys enable companies to make decisions based on hard data rather than speculation or anecdotal information by gathering data from various sources, such as […]

Entering a new market is an exciting and challenging journey for any company. The United Kingdom, with its diverse and well-developed economy, is an attractive market for many businesses. However, market entry in the UK can be complex and challenging, with many obstacles to overcome. This article provides a roadmap for companies considering market entry […]

In market research, the collection and use of data raise several ethical considerations, such as obtaining informed consent, protecting the privacy and confidentiality of participants, avoiding deceptive practices, and ensuring data accuracy.  Ethical guidelines, such as the International Chamber of Commerce’s ICC/ESOMAR International Code on Market and Social Research, provide a framework for conducting market […]

Customer journey mapping is the process of creating a visual representation of the steps and touchpoints a customer goes through in their interaction with a company. It aims to understand the customer’s needs, emotions, and motivations at each stage of the journey.  The importance of customer journey mapping lies in its ability to improve the […]

When the US home improvement retailer Home Depot attempted to enter the Japanese market in the 1990s, it failed to gain traction due to intense competition from local retailers and cultural differences. And when UK supermarket giant Tesco attempted to enter the Japanese market in 2003, it failed to gain a foothold and eventually withdrew […]

In today’s rapidly changing and highly competitive business environment, companies must remain vigilant to stay ahead of their competitors. This is where competitive intelligence (CI) comes into play.  Competitive intelligence gathering is a systematic and ethical process of collecting, analyzing, and using information about one’s competitors, market, industry, and customers to gain a competitive advantage.  […]

Ethnographic research is a qualitative research method that systematically studies social and cultural phenomena within their natural contexts. It involves observing and recording human behavior, practices, and beliefs, often through immersion in the field, participation in activities, and in-depth interviews with participants. Ethnography aims to understand the experiences, perspectives, and culture of the people being […]

Conjoint Analysis is a market research technique used to understand how consumers value different product or service features. It involves presenting participants with a series of product profiles that vary in their features and asking them to rate or choose the profiles they prefer. By analyzing the data collected, researchers can determine each feature’s relative […]

UX (User Experience) refers to the overall experience of a person using a product or service, including how easy or enjoyable it is to use and how well it meets their needs. In market research, UX research helps to understand how users interact with and perceive a product and identify improvement areas. UX market research […]

Biometrics refers to identifying individuals based on their unique physical or behavioral characteristics, such as fingerprints, facial recognition, voice recognition, and iris recognition. By utilizing biometrics, companies can gain valuable insights into consumer behavior, leading to more informed marketing decisions and improved strategic outcomes. The market size of the biometrics industry is growing rapidly, with […]