The Research Process

Has your market changed? Has your competition changed? Are there new products to launch? What are the trends in market share or competitive positions? Are new segments emerging? How can you get the competitive edge? These are a few of the problems and opportunities that marketers face on a continuing basis. Foresight works with you to define the issues and put together a clear direction.

Fitting the Research to the Need

The next step is determining how much research it takes to get the answers you need. Foresight assists in choosing a level of research activity that is appropriate for the problem you want to solve. This is supported by exploring the approaches and options available, and by evaluating the strengths and weaknesses of various methodologies, sampling plans, sample sizes, and measurement techniques.

During the Study

Some people would have you believe that data collection is a commodity that one company can provide just about as well as any other. At Foresight, our clients know better. They've seen the way we hire, train, and coach. They have seen the way we stay involved with clients and their projects through to completion. They know the care we take in recruiting respondents and they understand our hallmark is the relentless pursuit of excellence.

Many of our clients monitor portions of the interviewing process from the comfort of either their office or home, and clients typically attend focus group sessions. Each of these practices is useful to experience the process as well as to gain first-hand insight into the opinions of the respondents.

Report or Presentation

Raw data must be organized in such a fashion that it is no longer just clusters of numbers or columns of statistics - it instead has to be converted into creative strategies and winning marketing plans. That's our passion. That is why Foresight Research should be part of your marketing team.

The Marketing Plan

Transforming research findings and static customer or prospect files into a powerful system that can connect you with new customers, new markets, detect changes in existing markets, or create competitive advantage - that is how results are achieved. To that end, we have the systems and staff to combine your marketing research and external marketing data with syndicated research. The end result is a powerful system that has application in preparing marketing plans to overcome problems, create unfair competitive advantage, or identify marketing opportunities.

This approach is useful for issues such as:

• Determining opportunities and marketing potential

• Targeting your communications

• Planning media and creative

• Planning new products or new product launch strategies

• Finding unmet needs and competitive advantage

Because Foresight Research specializes by industry, and has years of experience in marketing research and measurements as well as marketing strategy development, we can assist in the planning, implementation, and measurement of your marketing efforts.

Quantitative Measurement Techniques

Advanced Statistical Analysis

Basic analysis generally begins with contingency tables (cross-tabs) in addition to basic descriptive statistics (means, medians, standard deviations, and tests of significance). We can also use a variety of advanced measurement techniques such as conjoint and multivariate analysis.

Measuring Differentiation and Competitive Advantage

Do customers see your product or service as different from the competition? Are you at a competitive advantage or disadvantage? The answers to these questions can have a significant effect on your market share, pricing, and profitability.

Foresight has developed a system of measurement specifically designed to quantify differentiation and competitive advantage - from the customer's viewpoint. We are able to determine how different your product or service is (compared to the competition) and, therefore, determine if your company holds a position of advantage. Estimates of incremental sales are facilitated with this measure.

Measuring Consumer Unmet Needs

Consumer satisfaction is a fundamental requirement for many product or service providers. Do you understand all the factors that contribute to satisfying your prospects and customers? Often the difference between customer satisfaction and customer delight lies in meeting an unmet need. Understanding unmet consumer needs may be key to finding new markets, retaining existing customers, or developing competitive advantage.