Research
All research consists of data collection and analysis. We do both at Dharma Market Insight. The end goal is clarity. But it's the sheer joy of doing research that fuels us in the purpose to achieve clarity. Read this page to see if we could be a fit. By working with DMI, you help us state the truth without fear. We get to keep our integrity intact and keep exploring the nature of reality.
Data Collection
Data collection is an important part of any research methodology. We collect both quantitative and qualitative data. Quantitative data is best collected via web, telephonic and in person surveys. Qualitative data is best collected via focus groups and in depth interviews. While quantitative techniques answer the "what", qualitative techniques answer the "why". To collect data for primary research, we'll first figure out the sample size needed for your study. We'll then identify or recruit subjects from your target population to fulfill the sample. For secondary research, there is no data to be collected per se. It already exists out there in numerical or textual form. But we still must find it for you by scraping the web and libraries.
Analysis
Once you have collected or found the relevant data, you must analyze it to answer your research questions and meet your objectives. Sometimes however, finding or collecting the data itself is the objective of the project. For example, lead generation is a core part of the marketing/sales process for most businesses. When you think about it, every lead generation campaign is a research project. Yes, you may study your leads for greater decision making insights. But finding them is a job in itself that is considered as demand generation
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We provide lead generation market research for any industry out there! We have worked in the health, HR, and food & beverage industries before, but are not limited to any sector. Having had prior agency experience, we are passionate about helping every industry, however big or niche.
Beyond lead generation, more traditional market research involves analyzing the data you have collected to generate reports. Here are the following services we offer:
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Market Segmentation
No two people are the same. But certain groups of people are bound together by commonalities. By segmenting your market, you are able to see how people vary based on their attitudes, interests and characteristics. This helps you choose your ideal target market, but also strategize different marketing mixes (product, price, promotion and distribution) for different kinds of markets. The same logic can be applied to companies, where no two companies are exactly the same, but yet can be grouped together on their similarities.
Product & Concept Testing
Both product & concept testing usually apply to product launches and the respective communication that promotes it. It's very important to get assurance before a launch what consumers think about your product and your advertisements. Ideally, you would have done exploratory research before product development to understand what consumers want in the product in the first place. After that you would do product testing, to test if your findings have merit to them. Concept testing usually pairs with product testing, but not always. Sometimes, it's just a matter of repositioning your communication with the same product. So you would only do concept testing in that case.
Campaign Testing
Campaign testing in the marketing world is still in its infancy. Everyone has heard of A/B testing in email campaigns where the predictor variable is one thing such as a subject line, and the output variable is also one thing such as an open rate. Sometimes there is more than one predictor variable, such as the subject line plus copy of the email, which is branded as multivariate testing. This is just dipping one's toes into the potential of multivariate analysis. Truthfully, you can have any number of outcome variables and predictor variables which can be both continuous or categorical nature. You can can then explore the correlation between your inputs and outputs. Correlation does not mean causation however. Thus it's important to identify as many inputs you can to better account for the situation and set up an experiment before and after introducing a variable. When optimizing campaigns, we can work with what we have, and see their effects on the result. But before making any claims, it's important to be scientifically correct.
SEO & Content Creation
Search Engine Optimization (SEO) has become a necessary aspect of a business's content strategy. Content strategy in turn has become one of the most widely used strategies in the world, as more power is being turned over to the consumer. It's the age of inbound marketing. In order to know what to write, you must first perform keyword research. It can be called market research on people's search intent. After identifying the areas you need to work on, you can go ahead and create content that addresses those topics. Content can be in many forms, including text, video and voice. But it all starts with performing SEO research.
Brand Equity Testing
Branding is the art of influencing perception about every aspect of your product. There is the core benefit of your product, what it does for the people. Then there is the actual product that consists of a name, features, design, etc. On top of that, there is the augmented product which goes beyond the tangibles, and goes into the experience of using the product. But the perception of it all is the brand's equity, and it is very much measurable.
Customer Loyalty & Satisfaction Analysis
Say you have nailed your marketing mix and branding. You are able to use your understanding acquired through market research to get new customers. But customer churn is very real where there is freedom of choice. In a capitalist market, customers are free to choose and switch brands as they please. In order for you to retain your customers, you have to measure their continued satisfaction with your brand. As the nature of commerce has moved from being transactional to relational, your have to cultivate a relationship with your customers. That is the
purpose of loyalty analysis.
Competitor Analysis
To tell you the truth, it's best to position your product and find the right market where there is no competition to begin with. You will be the category leaders and the competition has to catch up to you, if they can at all. Blue Ocean theory in marketing gets into this, where the idea is to find that space which has not been explored before. But more often than not, there is more than one firm competing in an industry, however niche that space is. Thus it is important to understand the positioning of all players, so you can constantly outmaneuver your competitors to grow and retain your portion of the market share.