The backbone of modern market research lies in specialized tools and these include the World Wide Web, questionnaires, in-house research and surveys. Market research is required by a large array of businesses including banks, financial institutes, retail chains, pharmaceutical companies, healthcare, insurance and telecommunications.
Data Analysis The building blocks of research and analysis is data. We at mavens are expert in collating data.
Media Research The world as we know it is a creation of the media. It is the central opinion maker. At Mavens Research and Analysis we have a special team sifting through all forms of media and collating opinions and data about products and services that our clients provide. Each client gets a separate team working diligently to gather the right market opinion about a product. We use the print media, television, blogs and websites to gather the current brand image of your product.
Web Survey Analysis Mavens provides web surveys both online and offline. These are combined with emails, telephonic interviews and direct market research surveys. These are based on questionnaires framed in consultation with you as the client. Phrasing the questions is of extreme importance. The questions should be unambiguous and relevant.
Online Research Our researchers at Maven use the web with expertise to collect online and offline information crucial for the conduct of a true research program followed by analysis which results in cogent findings and solutions.
Multivariate and Bivariate Analysis Mavens helps your business to chart the exact path to sales growth and brand building. There are many factors playing upon every day dealings with customers. We make use of analytic systems to gauge the relationship between two variables as in bi-variate analysis. In other relationships where the variables are many we use multivariate analysis to come to the right conclusion.
Qualitative Market Research Services This involves a one on one interaction between our interviewers on the phone or in person with users of client products. The interviewee is a willing participant in the question and answer session and the research process continues with our expert interviewers relying on their training to seek relevant answers, which are used later for arriving at legitimate answers.
Quantitative Market Research Services This is a survey which depends on numbers. We use data capture methods and statistical analyses in quantitative research services. This kind of survey involves intercept studies, emails, one on one quantitative interviews, online surveys. These are essential for assessing behavior and attitude of consumers. They go a long way in establishing market sizing and testing brand recall data.
Business Market Research This is an essential segment of our research and it involves uncovering important insights into the future of a business and the nature of our competitors. It also outlines the characteristics of a typical user of a product or service. The essential features of this service entail market profiling, marketing research, brand equity and positioning studies, financial research and new product development.
International Market Research Many businesses that Mavens deals with have an international profile. There products and services reach many countries. This entails global research on our part. This is because the global scene keeps changing because of international demand and supply changes. It keeps changing through legislation in countries that our clients export their products to. New laws require rephrasing an entire business process or suffer huge losses. In this sense we have to stay ten steps ahead of the competition to keep our clientâ€™s interests safe.
Market Research Surveys Surveys are the heart and soul of research and analysis. We have to design surveys in a manner that will bring in maximum responses. Structure and content is of the utmost importance in a survey. These have to be shaped according to the media to be used. A telephonic survey will have a different format from a survey conducted on the internet. It will be much different in the case of one on one personal visit for a survey from a respected customer. Our surveys provide tremendous cost saving for our customers.
Primary & Secondary Research All research can be divided into two sections depending on the data. If the data has been researched by some other agency or authority but is relevant and current, it will be used by Maven to arrive at new conclusions and forecasts. This kind of research is called secondary. In case the entire process has to be started from designing the data collection methods, survey formats, technical team creation, telephonic interviewers, web surveys and then the data collected is collate afresh, this is called primary research. We at Maven use both kind of research to arrive at the right conclusion.
Market Research Techniques
All our in depth research and analysis is made possible by the market research techniques adopted by our experts at Mavens. These include
Analysis of Variance (ANOVA) is a statistical tool used by us to decide upon ultimate changes to be made to processes and there possible impacts on sales. We change variables one by one to observe the resultant difference in sales over a set period.
SWOT Analysis is another tool used to pin point the Strengths, Weaknesses, Opportunities and Threats in a clientâ€™s project.
Factor Analysis is applied to gauge the main factors which underlie the purchase of a product or service.
Cluster Analysis is done by dividing all the inputs in an analysis into clusters of similarity.
Discriminant Function Analysis.
Frequency Tables and Crosstabs.
We at Mavens go through complex processes in our gathering of data, analyzing it and then coming to sensible solutions. The core expertise lies with our team of statistical research professionals who are expert in collating information and then arriving at conclusions which they present in easily understandable reports for our clients. It is our guarantee that research and analysis done by Mavens will lead to positive results in your business.