Market research is the process of assessing the viability of a new good or service through research conducted directly with the consumer. This practice allows a company to discover the target market and record opinions and other input from consumers regarding interest in the product. Market research may be conducted by the company itself or by a third-party company that specializes in the market research field. Here we can be your third party in doing market research through surveys, product testing and focus groups.
By doing the market research we will analyze and interpret the results to determine the results of any pattern or relevant data which can be beneficial for decision making process.
Benefits of market research
Market research is useful for any company which is entering into a new segment or a group and want to understand the market response and viability of the product. If the end consumer is confirming interest of the consumer, the business can take forward the segment or else steps will be taken to make the segment or the product as per the consumer interest.
The other phase of market research is Mystery Shopping:
Mystery shopping was standard practice by the early 1940s as a way to measure employee integrity. In current Era where customers are service oriented rather than money oriented, mystery shopping plays vital role for the success of any Business
Why mystery shopping needed?
- Increase Sales
- Increase Customers satisfaction.
- Improvement in Quality of Services.
- Increase Profit
- Customer Awareness
- Employee Training
The purpose is to provide business owners more realistic picture of how customers view their establishment and how to increase sales by assisting in improving customer service awareness. Our questionnaires provide businesses with an unbiased opinion of how they are perceived by their customers.