Effective market research generates key insights into issues and questions that have a significant strategic and financial impact on an organization’s business. Plexus Marketing Group’s Market Research services support this strategic decision making process – whether it involves a full-service research study or simply providing a la carte support services such as survey instrument design or data collection. We also have extensive B2B market research experience, so we can offer practical and cost-effective suggestions for approaching these typically more complex and technically-oriented markets and audiences.
Our Market Research Approach
We collaborate with our strategic decision maker clients in several key areas of the market research process. First, to understand the research assignment and to design the most appropriate methodology for addressing the questions at hand. Then, to craft a survey instrument that will not only yield the needed insights, but will also engage respondents in the data collection process. Next, to accurately process and analyze the research data and findings. And finally, to assess the results in meaningful ways within the context of the market and business, and provide the level of reporting required by the client – be it a full research report or just an Executive Summary of key findings
- Qualitative Research — we specialize in qualitative methods, and use these research techniques to profile key markets/audiences and provide an in-depth understanding of customer attitudes, motivations, needs and preferences. We also use them to uncover emerging market trends and opportunities, and to develop and test new product concepts and messaging.
- Quantitative Research — quantitative methodologies are used to validate qualitative research findings across key market, audience, and geographic segments. They are also useful for sizing potential growth markets, conducting segmentation analyses, measuring awareness (unaided and aided), and evaluating potential differentiators and messaging statements.
- Customer Satisfaction Research – this is another of our specialty areas, which we use to (a) determine which areas of performance are the most important to customers and prospects, and (b) evaluate how a client’s organization (including specific functional groups for certain projects) is performing on those key performance areas.
We focus on three key types of research services in our Market Research practice for B2B and high-value B2C applications … our data collection options include:
We offer the following qualitative data collection options:
- In-depth interviews (IDIs) and “executive” interviews (including phone-based, webcam-based, and in-person)
- Standard focus groups (i.e. recruiting, moderation, and/or reporting), small group sessions, and customer roundtables
- Custom panels and MROCS (i.e. Market Research Online Communities)
- Online discussion boards … real-time text chats … social media listening/monitoring … and internet ethnography/netography
We utilize a variety of qualitative and quantitative data collection approaches (depending on the methodology used), and have experience in a variety of customer satisfaction tracking methodologies:
- Net Promoter Score (NPS) tracking, analysis, and reporting … also, marketing initiative development based on NPS study findings
- Voice of the Customer (VOC) surveys and other Lean Six Sigma DMAIC studies (e.g. critical-to-quality surveys)
- Attribute mapping studies … won/lost surveys and sales/channel surveys
- Customer journey mapping and customer experience evaluation