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FAQ
A: Market research is foresight! It is about listening to people, analyzing the information to help organisations make better decisions and reduce risks. Most markets are highly competitive, consumers are often unpredictable, new products are constantly being developed by competitors. Not investing in market research is one of the biggest risks any organization can take. Most businesses that do not invest in market research are often fall behind and eventually go out of business.
A: Organization and business leaders who aspire to improve shareholder value, improve their market share and/or maintain their lead.
A: Practical uses market research include:
  • Developing or testing a strategy for a new or improved products and services
  • Understanding customer satisfaction to improve loyalty and repeat business.
  • Understanding employee motivation to improve productivity & creativity
  • Helping to plan expansion into new markets
  • Launching and marketing new businesses more successfully

A: Quantitative research involves collecting data from a relatively large number of respondents (sample). This sample can consist of consumer/residential or business-to-business respondents.Quantitative projects typically involve one or more of the following means of data collection:
  • Telephone interviews
  • One-on-one
  • email surveys
A: Qualitative research methods are typically undertaken when the research goal is to obtain more detailed knowledge or explore ideas rather than to obtain findings that are projectable. Qualitative projects typically involve one or more of the following means of data collection:
  • Focus groups
  • In-depth interviews
  • Observational/ethnographic research
A: You can start by contacting us. Our experienced professionals will help you to determine exactly what you can achieve through research and will design a study around those objectives.
A: Since every project is customized to meet the client's needs, we strive to provide our clients with high quality research at a reasonable cost. Talking to us is the best way to start and you do not have to commit to anything until you're completely happy with our proposed solutions. Please call us or leave a message. We will be happy to discuss the approach that is right for you.
A: To determine the optimal sample size for a consumer survey, one must strike a balance between cost and reliability or the level of sampling error that is tolerable. A larger sample provides greater reliability, but at a higher cost. A smaller sample will be less costly, but will yield a higher margin of sampling error.
A: Administration or "fielding" of an online market research survey typically requires 2-10 business days. The variables that affect fielding time include: The sample size, inclusion criteria, response rate, the length of the survey in minutes once these variables are determined, Walsbridge can provide a projected timeline for your project.
A: The survey you need to conduct is called a new product concept test. New product concept tests are designed to gauge the market potential of a new product or service that has been conceived but not yet marketed to consumers. These studies typically include:
  • Questions to measure consumers' likelihood to buy
  • Expected price points
  • Expected points of distribution
  • Perceptions versus existing competing products
  • Psychographics of your target market (hobbies, interests, wants, needs, fears, aspirations)
  • Media consumption,
  • Behaviors (where they shop, how often they go out, how much money they spend.)
A: Market research surveys can be effectively used to measure the level of relative awareness and perceptions of your brand among target consumers. This allows you to see your competitive strengths and weaknesses and point out where you need to invest your company's resources.

FAQ's

Q:Who needs market research?

A: Organizations and business leaders who aspire to increase shareholder value, market share and maintain growth.Get more >>

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