Market Research

Market research is a systematic, objective collection and analysis of data about a particular target market, competition, and/or environment.

Are you considering launching a new product or service?

Do not enter the marketplace without knowing the landscape. Use a market research survey to fully understand your situation and plan your next move.

Is there a customer base? Is there a competitive product? What is the perfect price point? How will the product be received? Are there safety and security issues that you may have overlooked? Who is your competition? How do you stack up against that competition? What add-on products or services could you offer? How much production is necessary?

Launching a product or business without having the answers to these questions and more is a quick way to lose hours of invested time and thousand of dollars.

Use a market research survey to discover what qualities customers would like to see in your existing product. Know your customers' safety concerns; it could save your business.

Are you an existing company that is struggling to keep up with the competition?

Resting on past success is a sure path to failure. Identify new income streams. Find out where you need to improve. Determine how you are perceived in the marketplace.

Conducting Market Research Survey can:

• Identify a need

• Pinpoint your target market

• Assess competition

• Determine the correct price point

• Develop advertising strategies

• Design product features

• Discover complementary products or services

• Bring safety and security issues to light

• Minimize the time it takes to realize a profit

New companies live and die by correctly identifying a need in the marketplace and then adequately filling that need. Existing companies must continue to improve their products and services to meet the needs of the consumer. In both cases a market research survey can give invaluable information that can save time, money, or even the very existence of the company.

Ad Testing

Ad Testing or more correctly "Advertisement Testing", refers to various methodologies focusing exclusively on measuring the effectiveness, perception, or targeting of a series of, or a single advertisement in a given market. It is also related to Promotion Testing "promo testing" - which generally tests communications in a broader campaign. Ad Testing can test ads in any advertising media including print, TV/Cable, radio, billboard or others. It can be used at any stage of the advertisement development process including conceptualization, story board, or final stages.

Some Advertisement Testing may focus on competitive aspects (the effectiveness of the advertisement compared to competing advertisements). Some competitive Advertisement Testing techniques include asking respondents to browse a magazine and then being asked to remember what advertisements they saw and what was most memorable about them, a general survey on advertisement recall and recognition in a specific market, or testing competing advertisements in a deeper way by the use of face to face depth interviews or focus groups.

Advertisement Testing is most frequently used however to decide on the most effective advertisement from a series of alternatives at design stage. This also provides guidelines for the final design of the advertisements, and to correct expensive cultural gaffes that may occur when an advertisement developed in a different country is being used in another country or cultural target group.

Attributes most often tested include memorability, liking (or "affect"), persuasiveness, consumer identification with settings or situations, understanding of the appeal, and brand integrity.

Logos or tag lines can be tested in a similar manner.

Our Esteemed Clients

Toshibamax Research Clients Ministry of Education Department for International  Development United Kingdom National Audit Office National Taxpayers Association Kenya National Audit Office