Choosing the Right Marketing Research Company: Some Important Questions

Finding a professional market research company that produces accurate research results is a critical element in conducting market research for your business.

Marketing Research Company

When selecting a market research company ask the following questions:

Who will do the market research?

This might seem like a general question, but the answer should not be “one of our market research consultants.” The answer should be specific, such as John Smith, our senior research consultant, will be responsible for this research project.  Ask about the research consultants experience and if they have conducted similar marketing research before.  The reason this is an important question is that the person or people actually conducting the research will have a huge effect on the research projects outcomes and findings.  

What research methodologies will be used on the project?

The research company should classify what the main objectives of the project are, based on these research objectives ask them to identify what research method will be used and how they will execute the research.  Also ask why they have recommended the particular research. 

A discussion of the pros and cons of each method can be discussed as well as possible alternatives. If you are dealing with a professional research company then their expert knowledge and experience will be shown in this discussion.

Read our article on: Different Market Research Methods

Will this marketing research help me make the correct business decision?

The goal of every research project is to provide you with critical information that you can use to execute effective strategy and decision for your business.  Asking this question will help make sure that the research project will deliver the objectives identified in a way that is easy to understand.

How do you report on the research findings?

If you choose a research company that truly understands your objectives then they will present a report that is of value to you.  The report should be detailed and be presented in a way that is easy to understand.  The data presented should offer rich findings and make relevant recommendations.  Ask the research firm for examples of previous research reports, this will give you a better idea of how they display the data and report on results.

How much will this marketing research cost?

This is a blunt question and is important in the decision of what research company to work with. Research costs vary greatly depending on the size of a project. A small marketing survey can cost R40 000 while a large market research project can cost R140 000 or more.  The important thing to remember is that the cost should not be the only factor to consider when choosing a market research company.  The old saying “you pay for what you get” is often very true. 

George Klein and Associates is experienced in market research and have successfully completed research projects on a wide range of industries on behalf of local and international companies.

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