Quantitative Research and market survey, including online and offline administration, is aiming at helping both SMEs and large group to gain better understanding of their developing market. Daxuemetry is capable of providing market survey in China as well as European, American and any Asian country.
Quantitative research objective is to collect opinions, expectations, preferences and claimed behave of people in a structural and systematic way and so to present well-supported and data-driven recommendation. In order to get reliable statistical data, it is important to have sufficient sample size and have representative people interviewed in the targeted market. Daxuemetry leverages its extensive network and consumer panel to conduct market survey in any market and targeting any sample of consumers.
Market research is the first and vital step to strategies’ design, including deliverables such as business plan, SWOT analysis, product development, brand image and pricing. Moreover, market research can provide relevant insights to better implement online strategies in website design, emailing, SEO and social media such as Wechat and Weibo in China, Facebook and Twitter in Western markets. But when it comes to targeting new markets in Europe, America or South-Asia, a deep data-driven understanding of your target is a must-have to setup the foundation of your future strategic and operational actions.
Quantitative Research includes customers’ survey and questionnaires. Daxuemetry administrates them through face-to-face interviews, telephone, online platforms or company’s website. In the research design stage, each question needs to be carefully considered in order to have useful data generated. For example, instead of asking interviewees if they are aware of your business, relevant questions includes how often they visit your shop, what products do they buy, where do they go for the same product and the reason for buying.
The structure of Daxuemetry’s questionnaires includes closed-end questions, which require interviewees to choose an answer among some provided choices. Unlike qualitative methods, interviewees are then not allowed to justify their own answers. For example, an owner of a horticulture business might ask “how often do you buy plants or horticulture equipment?” The interviewees can choose among five choices as follow: never, once a year, 2-3 times a year, once a month or once a week. The purpose is to identify which hypothesis will be statistically proven as the most frequent among our targeted population and how to rank each proposition.
Semi-structural questionnaire will have one or two questions with an open-end answer. By asking open-end questions to a certain amount of respondents, Daxuemetry is able to collect a clearer picture of the consumer behavior and a deeper understanding of the market trends and patterns. After collecting the answers, Daxuemetry uses a method of recoding to still be able to offer statistical significance of the findings.
Quantitative research is also used by Daxuemetry to compare different customer groups. For instance, if you run a local café or a delicatessen shop, you need to adapt your food choices to different clients who have different requirement. Taking the example of mothers buying coffee every day or local workers buying sandwich for lunch, you may need to adjust the price and the criteria of the food selection to meet the requirement of your targeted customers.
By crossing the questions in its analysis – for instance, analysis an answer for the population “answered daily at the question how often do you go to the bakery shop” Daxuemetry will be able to provide you with a clear identification of your key consumer segment and how to target specifically each of them. Moreover, if you run the survey regularly, you can monitor the market trends, and check how the market or clients react to your new ideas and marketing actions.
How to reliably execute the survey is a key issue for Daxuemetry. Face to face offline survey as well as street interceptions is a effective methods to ensure fast and reliable data collection. Telephone interview also works very well, but it is not easy to predict when people have time and are willing to talk. Online survey conducted via email or social media contact needs some incentives to persuade your interviewees for taking time answering the questionnaires.
The best timing to ask a customer to complete a questionnaire is after you offered them a service. Customer satisfaction survey is an opportunity for customer to give opinion or recognition. It is a great way to get feedback for the sales strategies. You could also grab the opportunity to get customers’ contact information, and add them in your mailing list to contact them in the future (make sure you have customers’ permission).
Finally, if you would like to have a survey for a great amount of your potential customers and you are not sure how to reach them, you could insert 2 to 3 key questions in a general questionnaire which will be completed by massive amount of people online. This is an effective way to explore new segments in the consumers market.
Collecting data is just a part of market research. Sorting and analyzing data is where Daxuemetry considers adding the best value in your project of development. Our comprehensive statistical analysis will provide you with great first-hand understanding of the main stakes of your targeted market. Our data-mining experience will allow you to obtain adapted and decision-oriented insights regarding your key consumer segments. Our knowledge and cultural background in the market studied will ensure you to have localized and actionable recommendation for your business development.
As an international company, we have team members coming from all over the world, mostly MBA students from top business schools. We use the most advanced technology in market research, and we could design your own company strategy.