| Market research FAQ |
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Top (3) Reasons: 1) Market research tells you whether or not there’s demand for your product or service. 2) Market research answers the question, "What kind of person or company is most likely to buy my product or service?". 3) Market research helps make you more successful by gathering information about your competitors. The most fundamental division of markets is between those involving members of the general public and people buying or specifying on behalf of another organisation such as a business. Quantitative research: is the systematic scientific investigation of quantitative properties and phenomena and their relationships. The objective of quantitative research is to develop and employ mathematical models, theories and/or hypotheses pertaining to natural phenomena. The process of measurement is central to quantitative research because it provides the fundamental connection between empirical observation and mathematical expression of quantitative relationships. Quantitative research is widely used in both the natural sciences and social sciences, from physics and biology to sociology and journalism. It is also used as a way to research different aspects of education. The term quantitative research is most often used in the social sciences in contrast to qualitative research. Qualitative research: is a field of inquiry applicable to many disciplines and subject matters.Qualitative researchers aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The qualitative method investigates the why and how of decision making, not just what, where, when. Hence, smaller but focused samples are more often needed, rather than large random samples. Zpryme assures superb quality outcomes through the use of highly motivated, objective associates. They bring wisdom and maturity gained from their successful business and professional experience. In addition, they are trained in best and current practices, in consulting, coaching, and specialized skill areas. Zpryme customizes the approach to each client's unique situation. Yes. While it is Zpryme policy not to disclose confidential client information, many clients have given their permission to be used as references. Zpryme will be pleased to furnish the names of those clients upon request. The fee charged for a specific assignment is based upon the agency's operating budget, scope of the work to be done, and an estimate of the resources Zpryme will arrange to complete the project. The key element in determining our fee is a thorough assessment where project specifics are discussed (i.e. goals, objectives, parameters, and timeframe). A Project Manager (an associate with proven Zpryme experience) is vested with the primary responsibility for managing the engagement and the client relationship. The Project Manager for each market research engagement is selected based on the particular needs of the client as well as the skills and training of the volunteer. In some instances the Project Manager and Director of Consulting meet with a potential client to discuss their concerns. We spend time and effort in gaining an understanding of their organization and their needs before we recommend what and how we can assist them in meeting their goals. The Project Manager plans the work program, leads the market research team to ensure that the project is on track and running smoothly and is responsible for the preparation of the final report. He or she will be the primary contact during the course of the project and will provide the client with periodic progress reports. Associates are selected on the basis of the skills and experience needed to meet the particular requirements of the client. In selecting the market research team, Project Managers can draw on the expertise in specialties ranging from social media to health services to product manufacturing to name just a few. Characteristically, associates are assigned based on the match of skills to client needs. However, if a client has a request for a particular associate, if that associate is available he or she will be asked to consider that assignment. If that associate is unavailable, the client has the option of waiting for that associate or meeting with another with similar skills and background. In the event that a associate is assigned and the client is not comfortable with the “fit” the client only needs to inform the Project Manager or Director of Consulting, and another associate with appropriate skills will be designated. It is Zpryme’s expectation that the market research project will run smoothly. In the unlikely event that there might be a concern about project progress or consultant performance, direct communication with the Project Manager should normally lead to solving the problem. Further, clients are encouraged to share any concerns with the Director of Consulting. Zpryme’s goal is to satisfy every client. Zpryme associates are dedicated to the concept that their efforts help clients achieve and sustain needed changes. Typically, the Zpryme final deliverable will be written to be outcome oriented and guide the client toward implementation of recommendations. Depending upon the nature of the project, the actual involvement of Zpryme in implementation will vary. Whenever appropriate, Zpryme engagements include a discussion with the client to determine how the client will implement the recommended actions. The discussion can result in: 1) Zpryme providing assistance in implementation planning during the current project; 2) the client inviting Zpryme to submit a proposal for a separate, follow-up market research project with an additional term and fee; or 3) the client determining that there is no need for ongoing implementation assistance. Ultimately, implementation of Zpryme recommendations is the responsibility of the client, with whatever assistance from Zpryme is agreed to by both parties. Every project has its own exclusive requirements and time-frame. These will be discussed at an assessment meeting, and the agreed-upon time frame will be incorporated in the consulting agreement. If it is anticipated that there will be a divergence from the time frame, the Project Manager and client will discuss the reasons for the delay and come to agreement upon a revised time frame. All of the work involved in a market research project is confidential in nature. This includes both the overall details of the project as well as information collected during any internal client interviewing (wherein individual responses are not attributed to any individual, but integrated with the content of all interviews and data). Zpryme will only use a client as a reference with the client's permission. Follow-up is dependent on the nature of the consultancy and the relationship of the consultant and the client. In many instances, several months following completion of the project, a Zpryme asssociate will contact the client to discuss what changes have occurred as a result of the consultancy, and to see if further service might be helpful. And a year following project completion, a Zpryme associate will contact the client to ascertain overall satisfaction with Zpryme and the longer-term project outcomes. Zpryme welcomes repeat business. It’s a fact, more than two thirds of our market research projects each year involve organizations with whom we have previously worked. Zpryme encourages clients to return with an additional request for assistance in any leadership, governance, or management area of need. |
