At YY we believe that accurate and thorough information is the foundation of all successful businesses. Correctly executed Market Research provides a wealth of information about prospective and existing customers, the competition, and the industry you are or will be operating within.
YY define research as the process of gathering, analysing and interpreting information about a market, product or service to be offered, and about the past, present and potential customers for the product or service; research into the characteristics, spending habits, location and needs of your business's target market, the industry as a whole, and the particular competitors you face.
Well executed Market Research allows business owners to determine the feasibility of a sales or marketing strategy before committing time and money prior to knowing the outcomes.
We provide market research data to help solve marketing challenges that a business needs as an integral part of the sales business planning process. In fact, strategies such as market segmentation (identifying specific groups within a market) and product differentiation (creating an identity for a product or service that separates it from those of the competitors) are impossible to develop without market research.
When YY Consulting conduct research for your company, we can perform two types of campaign; exploratory or specific.
Exploratory research, is open ended and helps you define a specific problem, and usually involves detailed, unstructured interviews in which lengthy answers are solicited from a small group of respondents.
Specific research, is precise in scope and is used to solve a problem that exploratory research has identified.
