Our constantly connected world has empowered the consumer in new and complex ways. Today’s business leaders face an endless stream of decisions around target markets, pricing, promotion, distribution channels, and product features and benefits. For each unique decision that must account for a variety of factors, there are market research studies and methodologies strategically designed to capture meaningful data to inform these decisions. The explanations below provide an overview of the different types of decisions insight-driven businesses face and why market research matters.
Brand Tracking & Equity
Market Feasibility & Positioning
Consumer Segmentation
Advertising Effectiveness
Shopper Insights
Competitor Intelligence
Brand Tracking & Equity
What do we do ?
Brand is an intangible, conditional asset associated with a product or service. Brands are associations with a set of emotions that influence consumers’ responses and behaviours towards a product/service (Kapferer; Brand Identity). It is essential for a business to understand the commercial value, or equity, that is derived from consumers’ perceptions of the brand name of a particular product or service.
How do we measure
We measure strength of the brand equity through multiple indicators such as :
Brand Awareness
Brand usage / loyalty
Brand association
Strength of communication awareness
What can be answered
Awareness
How powerful is my brand ?
Is the brand seen, is the brand generating awareness in social media ?
Desirability
How desirable is my brand ?
Is the brand positively mediated, is the brand exposed to be desirable in social media ?
Proximity
How engaging is my brand ?
Is the brand engaging and engaged, is the brand appealing its communities to share ?
Relevance
How aligned is my brand ?
What is the gap between the brands desired equity and the equity actualy spread by social media ?
Market Feasibility and Positioning
What do we do ?
Research is the process by which a company or organization ensures that their product is ready to be launched in the marketplace. This process often involves interviewing potential users to see if the product solves a specific user need, or whether the product will help users become more efficient at task.
What can be answered
Distribution Channel Analysis
Marketing Opportunity Analysis
End-Customer Analysis
Marketing Mix Analysis
Marketing Entry Strategy
Sales and Marketing Funnel Analysis
Competitor Analysis
Advertising Research
What do we do ?
Validate advertising concepts and creative executions by testing them with a sample of your target audience. With Sparkwinn, you can identify which print, video, and digital ads resonate and will likely drive sales, and which ads fail to connect or negatively impact your brand.
How do we measure
We use AIDA Model to evaluate a advertisement.
Awareness
Interest
Desire
Action
What can be answered
Performance on Visibility / brand recall
Likability / relevance of advertisement
Predict the effect on purchase intent
Understand how your brand is perceived
Get the highest ROI for your ad spend
Consumer Segmentation
What do we do ?
Market segmentation is the activity of dividing a broad consumer or business market, normally consisting of existing and potential customers, into sub-groups of consumers (known as segments) based on some type of shared characteristics. In dividing or segmenting markets, researchers typically look for common characteristics such as shared needs, common interests, similar lifestyles or even similar demographic profiles. The overall aim of segmentation is to identify high yield segments – that is, those segments that are likely to be the most profitable or that have growth potential – so that these can be selected for special attention (i.e. become target markets).
How do we measure
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What can be answered
What are the key segments or size
What segments a brand need to prioritize
Profile of each customer segment and how they behave
Shopper Insights
What do we do ?
Shopping behaviors have changed dramatically within the last few years. To optimize the 360° shopping experience, your research approach needs to change, too. Sparkwinn research event brings your shoppers to life. In real-time you’ll watch them illuminate their needs and wants, their decision-making processes, and their gut reactions to companies and brands. And, because hundreds of shoppers can participate in each qualitative research event, you can be confident the recommendations are supported by statistically-sound data.
What can be answered
What they , when , and with what
Average bill value
Basket intelligence
Spend
Who, Why and how
How they view the category
How they behave in store
How they use the category
Degree of preplanning
Market & Competitor Intelligence
What do we do ?
The purpose of marketing intelligence is to understand customers and their consumer behavior. This means that marketing intelligence is client-focused. By contrast, competitive intelligence is data that's gathered and analyzed to understand a company's competitors. This type of intelligence, thus, is business-focused. Both intelligences are important to strategize your business.
What can be answered
