What is market research? Formal approach
and planed of the recollection, analysis, interpretation
and result of the information required for decision makers.
It can be used to find and solve problems and seize opportunities.
It can be obtain with quantitative or qualitative techniques.
What is a Panel? It’s a group
of persons that express their opinions and attitudes of
a product through the time. Also it’s a new concept
in the market research technologies, where a Panel is a
group of hundreds, thousands or millions of people who give
their personal information about consumer behavior, and
are invited to participate in an online survey, that will
always include a reward for their time.
What is Benchmarking? It’s a Japanese
philosophy where the competitors are analyzed to learn from
them and improve even products, services, sales strategies,
What is Mystery shopping? It’s
a qualitative research technique. Is when the researcher
pretends to be a potential consumer and it’s for obtaining
information about how is performed the sale of products/services
by competitors; which are their sales arguments, how they
present the quotes, their terms and conditions, times, quality
of service, etc.
What is a Focus group? It’s an
interview in group, where are invited to participate between
6 and 10 persons (members of the same target market), with
the objective of collect information about their needs,
perceptions, feelings and preferences of related to the
product. The interview is directed by a moderator, who will
be asking the questions and will be in charge of get the
answers of all the participants. Usually the session is
videotaped to be watched very carefully after the interview,
it is performed in a Gesell Chamber.
What is a Gesell chamber? It’s
a chamber used to perform a focus group study, it has two
spaces divided by a mirror. From one side, the clients and
specialists can sit and observe the study and on the other
side the participants (regular consumers) can express their
opinions about a product or a service.
Why to invest in a market research? Usually
and erroneously, decision makers based their decisions on
their experience, intuition and the information they already
know. There are decisions that involved financial resources
and making a bad decision can produce loss of money so it’s
important to have specific and reliably information to make