Market Research
At SJLC, we use a various range of market research techniques to establish the feasibility of a product or service. It is about collecting information that provides an insight into your target markets thinking, buying patterns, and location.
Assessment & Consultation
Prior to completing any market research, we organise an assessment and initial consultation. Here we gain a greater understanding of your situation, and what exactly needs to be assessed accordingly.
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From this, we are able to create a problem definition by identifying key performance areas or areas of potential improvement. Goals and objectives are set out here to ensure a company's needs and wants will be met.
Following this, we formulate research design modules. These modules are customised models which can be varied upon each phase of the data collection, depending on statistical findings.
Data Collection
Field work, or data collection, involves a field force or staff that operates either in the field, as in the case of personal interviewing, from an office by telephone , or through mail. Objective observations often based on statistical models are made here.
Proper selection, training, supervision, and evaluation of the field force helps minimize data-collection errors.
In marketing research, an example of data collection is when a consumer goods company hires a market research company to conduct in-home ethnographies and in-store shop-alongs in an effort to collect primary research data.
The procedures followed at each stage are methodologically sound, well documented, and, as much as possible, planned in advance.
Evaluation & Action Plan
Data analysis has multiple facets and approaches, encompassing diverse techniques under a variety of names in different business, science, and social science domains.
Data mining is a particular data analysis technique that focuses on modeling and knowledge discovery for predictive rather than purely descriptive purposes.
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From the customised data models that have been created for business, we create action plans moving forwards to further optimise company performance.
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Goals and objectives are analysed against actual performance and recommendations are made relevant to actual practical scenarios.
