MARKET RESEARCH, CLIENT ENGAGEMENT SURVEYS & COMPETITIVE ASSESSMENTS
With effective market research, you can determine the need for your service, a product’s likelihood to sell, target-market demographics, and desirable store locations.
- When a market appears to be changing rapidly
- When disruptive products enter the marketplace
- When the company needs to confirm its value proposition
- When you want to make a post purchase evaluation
- When customer attrition increases
- When the repeat purchase rate declines
- When you want to explore product line extensions
- When you want to explore pricing alternatives
There are numerous ways to uncover this information—from online research to focus groups to counting customers. It’s self-evident that one needs good information to make good decisions. High levels of customer satisfaction typically are strong predictors of customer retention, customer loyalty, and product and services repurchase. Effective businesses focus on creating and reinforcing positive experiences to retain existing customers and add new customers. Customer satisfaction surveys provide the insights that are the foundation to creating and reinforcing positive customer experiences. By developing a framework for making competitive assessments, gathering intelligence on business rivals, and understanding how to position your own brand, products, and company in the marketplace, not only can you learn best practices from competitors, but you can also learn to avoid the mistakes they make. Understanding the competitive landscape helps you make very practical decisions around product development, pricing, promotions, messaging.