Market Research
Our Services
Our Malta-based commercially minded market research team offer a vast range of qualitative and quantitative research services for our B2B and B2C clients spanning industries. From online research, customer satisfaction surveys, focus groups, user product testing, to evaluation of the digital mobile marketing efforts, websites and apps. Keen Ltd’s holistic market research services ensure our clients will always be a step ahead of the competition. Using market research to understand your brand positioning is crucial to succeed in business. Gather fundamental insight whilst supporting outreach efforts like SEO and Digital Marketing endeavours. Understanding your business, the marketplace and your core audience is what motivates our brand strategists and marketing analysts who strive to provide market research that will position your brand.
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Why do you need Market Research?
ABOUT MARKET RESEARCH
Market research allows you as a business to understand your audience’s needs, wants and motivations, using credible information gathered from you sector. Stay ahead of your competitors and decipher your target audiences’ concerns, wants and behavior patterns. How do they regard your business and /or its products and services? What do they consider your strengths and weaknesses? Market research is a crucially important tool for businesses and can help formulate marketing strategies founded on reliable data, rather than guesswork.
Market research identifies a multitude of elements such as demographics of your target audience and insights into emerging trends. Use this data to create focused digital advertising campaigns. Never underestimate the fact that market research can save you money by minimizing any investment risk, allowing companies the opportunity to easily test out the market before launching a new product or service.
The steps we take
OUR PROCESS
STEP 01
Identify the opportunity/challenge
We liaise fully with the client to understand the type of information needed, the volume of data required and timelines available. Is the approach B2B or B2C? Do they require qualitative or quantitative data? Is emotional customer feedback required or numbers? What will be the end result of this data and how will this be used?
STEP 02
Identification of the research methodology
When asked to conduct B2C research i.e. for a retail company, we need to determine their preference – should we use online/telephone surveys to reach higher volumes or smaller targeted focus groups? Our strategists and researchers decide upon the best methodologies to gather this information and start to draft survey questionnaires based on background research in the field whilst adhering to the requirements of the client.
STEP 03
Data collection and analysis
Once the data is gathered, our team of analysts will assess the results and present them in an easy to interpret market research report. Based on the data collected, we can work collaboratively to support our client’s future marketing plan.
MARKET RESEARCH FAQ
ALL YOUR QUESTIONS ANSWERED
Q01
Do I really need to conduct market research?
Let us ask you this. How useful will it be for your business to get to know your audience? Companies choose to carry out market research for differing reasons. Maybe they are exploiting a new possibly lesser known market or region? Launching a new product or service and need to assess the marketplace first. Losing money to competitors and need to understand why? Has your business overcome tricky challenges and you need to establish what impact this may have had on your brand? The value of market research is that it can provide direct answers which can supplement any future marketing strategy.
Q02
How long is the market research likely to take?
- The methodology we adopt and the size of research exercise is based on statistical theory, to ensure the data we collect is statistically representative and reliable. So therefore, the duration of the market research exercise varies, depending on both the methodology and the size of the exercise. Small research projects can be completed in around 8 weeks. Examples of small research projects:
Short telephone survey with 350 interviews - Maximum of 25 in-depth interviews or 10 focus groups.
Q03
How much do I need to invest for market research?
Market research exercises are designed specifically for the needs of the client and vary depending on the extent of the research exercise and the methodology adopted. We encourage you to get in touch with us to discuss and guide you to provide a custom quote matching your preferences and needs.
Q04
How far can I trust this data and can I base important business decisions on it?
The whole process of market research, from the very beginning until the presentation of the results is based on statistical theory. We will ensure that the data collected is representative of your customer base and we will produce reliable data for you to base key decisions. The more up-to-date data we can generate, from a representative sized sample – then the better results you’ll achieve and the better prepared you’ll be to understand your audience before making important business decisions. The real skill is in interpreting this data and acting on it. However, be prepared as sometimes you don’t get the answers you were anticipating and business managers often have to put visionary ideas to one side when interpreting these results. Although Market Research provides credible insight, it can never eliminate all possible risks and or anticipate effects/side effects of your business decisions. Yet carrying out market related business decisions without any kind of market research is extremely risky.