The largest companies do market research. Surprisingly, the most successful small companies do as well. Our bet is that, at some point in life, you have done market research even if you didn’t call it that.
REMEMBER MIDDLE SCHOOL? YOU LIKED A GIRL AND YOU WANTED TO KNOW IF SHE LIKED YOU BACK.
There was always the customer survey: Do you like me? Check yes or no. If you didn’t have the budget (in bravery!) for that, you could trust a focus group of friends to ask her and then let you know. You also wanted to know if any of your competitors were interested in her so you checked around.
Everyone knows the value of market research. But, too often, budget constraints or an attitude that we know our market better than anyone, cause businesses to ignore that vital function.
At Three Vistas, part of our process for success is to do exhaustive market research. Knowing that the average consumer in your market is below the age of 34 or that in 70% of the cases the person that makes the decision to buy is female could better drive or affect your branding and how you position yourself in the marketplace. Or, if your product is perceived as higher quality than your competitor’s similar offering, that would affect how you message to your target audience.
As we are putting together a branding or marketing approach, we want access to current, valid and relevant data on our target audience. Armed with that information, we can better design logos, content, visuals, branding, marketing strategy, and messaging so that we can achieve success for you. As you can imagine, there is a cost for this. We think of it as an investment. If you’re in the restaurant business and there is a Chic-Fil-A on one corner, a KFC on another and a Zaxby’s next to your location, you probably don’t want to begin to offer a chicken product. But what about a great Fish & Chips meal? Or steak?
Market research is vital. We can go as in depth as we need to. We’ve even put “boots on the ground” to do door to door surveys before. Let the experts at Three Vistas guide you thru this process and trust our expertise to get the information for you to make informed decisions about the future of your business.