Market Research Services  Manufacturers, Traders, Suppliers

Market research is the collection, preparation and interpretation of all relevant market data. In primary research data are currently collected from the field, secondary research deals with data that have already been collected. The results obtained serve as the basis for all marketing decisions. A further distinction is made between qualitative and quantitative market research. Qualitative studies provide insights into key questions about specific products or services, but do not allow these results to be extrapolated to the entire target group, while quantitative studies survey a representative cross-section of the population in order to arrive at concrete sales or turnover forecasts, for example.Market research is used in all industries. When developing new products in particular, it is crucial for a company to know how many consumers would buy the product, how often and at what price. Market research also provides important information about the causes of declining sales of existing products. Competition could have introduced better or cheaper products to the respective market.The methods used are manifold. Depending on the question, group discussions with consumers are possible, complex individual interviews are conducted, research designs from psychology, such as psychodrama, play a role. Online market research is becoming more and more important nowadays, as it provides fast and often cost-effective results.