Social and Market Research Services In Nigeria.
In understanding this concept, we have to break it down into two; firstly, Social research is a research conducted by social scientists following a systematic plan. It is a method by researchers to learn about people and societies so that they can design products/services that cater to various needs of the people. Secondly, Market research deals with activity of gathering information about consumers’ needs and preferences. It is a process of determining the practicability of a new service or products through research conducted directly with potential customers.
Therefore, Social and Market research allows a company to ascertain the target market and get views and other opinions from consumers about their interest in the product or service.
Due to the fact that economy is becoming more and more competitive with each passing day, having pertinent knowledge about the worries and preferences of your customers has become integral for any business. Social and Market research is the best way to increase customer satisfaction, understand the factors that affect your business, and to elevate your performance.
Bulls Capital limited is an independent and a full service consulting firm with robust professional competence in social and market research and the company was incorporated in 2012 and has carve a niche for itself as one of the fastest growing social and marketing research company. Our company has satisfactorily handled a wide range of social and market research for different types of companies such as company dealings with – consumer goods, commodities, and agro business. As well as Telecommunications Company, hospitality business, commercial banks, mortgage banks etc.
Our company is managed by seasoned research professionals that have vast experience in social and market research which can provide stakeholders of an entity with in-depth analytics for their company advancement. We also, offer consumer insight into what is happening around them and given them technical support and data driven decisions.
Bulls Capital limited offers a range of services for organizations that deals with social and cultural space. And we understand the problems facing public companies as well as private companies; so we always attempt to improve their services in the face of an increasingly demanding population.
Social and market research focuses on the behaviour of a particular target market. In order to accurately complete this type of analysis, one would need to gather information relating to the opinions, needs, attitudes and motivations of a group of people and this can be done effectively by team of competent researchers in Bulls Capital Limited.
The vision of our company is maintain our relevancy in marketing and managing our clients’ plan via social and marketing research and delivering such to them on time, based on affordable rate.
Once you have an idea, our firm can help you turn it into a concept that can be tested. You can learn more about strategizing pricing, testing advertising and packaging, value proposition, and so on.
Social and market research is undertaken by a business not only because of competing with its competitors in the industry but also to analyse the information on the competition, know the market size of the competitors and other market’s needs.
Basically, in Bulls Capital Limited, we believed that, businesses cannot hope to run their show by making use of their gut instincts alone. Therefore, we analyzed the market for our clients by seeking opinion and conducting social and market research to get information in a systematic way.
Information analyzed using social and market research analysis technique
So many information were needed about consumers and the market by making use of social and market research technique and this can be easily determined by the use of some of strategies mentioned below:-
- Social and Market analysis on products, consumer accounts, and competitor
- Prevailing trends in the market
- Market information on product prices
- Market segmentation
- Analysis of the business strength, weakness, opportunities and threats.
You need to also know that, there are some benefits accrued to your company if you request for social and market research services with Bulls Capital limited. And they are:-
- It brings about taking immediate and timely actions in certain areas of the business which tends to help in decreasing the business risk.
- It Encourages a healthy communication with clients by knowing their preferences, likes and dislikes
- It will helps in studying the market trends and setting up newer trends in the market according to consumer needs and preference.
- Understand the needs of existing customers and why they chose your service over
- It helps in identifying the existing problems, so as to work on them by taking into consideration the opinion rolled out by the consumer.
- Recognize new areas for expansion, and increase your customer base
- Set achievable targets for business growth, sales, and latest product developments
- Discover potential customers and their needs, which can be incorporated into your services
- Finally, social and market research helps in effective tapping of the prevailing market opportunities by identifying them and using them to the best.
Moreover, there are different types of market research analysis techniques by organizations and they are classified into:-
- Quantitative Market Research
- Qualitative Market Research
- Primary Market Research
- Secondary Market Research
Our areas of expertise include: – Learning and skills, Housing, Banks, Charity organization and so on. Examples of recent research we carried out in the public sector includes:-
- Brand positioning and development
- Listening to customer programmes
- Tracking customer satisfaction
- Public Consultants
- Status and repairs survey
- Reactions to local government websites and web development
- Identifying customer needs and priorities
- Advertising and marketing communications
For a business to succeed in this Information Age, it is essential to fully understand the target market. Customers are always looking to backing businesses that are conveying a message or targeting for a socially acquainted goal. Connecting with potential customers on social media platforms is probably the smartest move any business can make; inspiring communication whilst collecting valuable behavioral data.
Social and Market Research helps companies in solving problems and reducing the risk of making important business decisions. We believed that, you need to know the types of market research we can conduct for your entity, so as to identify and solve any business challenges your organization can face.
These researches are sub-classify under social and market research and they are:-
- Brand Research: – This research helps in creating and managing your entity’s brand or identity. Your company’s brand is the images, narratives, and features in which people associated with. This research can be used at every stage of your business life cycle; starting from creation to new product launches and re-branding. In carrying out this type of social and market research, our company will use several types of market research methods to assess you and your competitors’ strengths and weaknesses. We will conduct competitor market research to have a pictorial view of the overall marketplace. We will make use of focus groups and interview in learning about your existing and potential customer’s emotions and associations with certain brands.
- Competitive Analysis Market Research:- This types of research allows us to assess your competitor’s strength and weakness in the marketplace, providing you with fuel to drive a competitive advantage. It is an integral part of any business and market plan. Maybe, you’re getting started or you’re moving into a new market, or doing a health check of your business. This is done by typically choosing few of your main competitors and analyze like their marketing strategy, customer perceptions, how they handle their social media activities, revenue and sales volume and so on.
- Customer Insights: – This research does more than telling you about who your customers are and what they do. It also exposes why customer behave in certain ways and helps you leverage that to meet your business goals. This type of market research will help you in anticipating consumer needs, spark innovation, personalize your marketing, and solve business challenges and more. This research is about getting to know your customers and your target market. We will make use of interviews, ethnography, survey research, social monitoring and customer journey research.
- Customer Satisfaction Research: – This type of social and market research measures customers’ proficiency with products or services, basically looking at how those meet, exceed or fail to live up to their anticipations. Successful customer satisfaction research should help you understand what your customers like, dislike and think needs upgrading. We will help you this market research to look at quality and design of products; staff and service reliability; market price; speed and timeliness of delivery; knowledge; friendliness and value for money. It is used to measure how satisfied people are with customer service or problem resolution.
- Customer Segmentation Market Research:- This research aims to divide markets or customers into smaller groups or personas with related characteristics to allow targeted marketing. By understanding how people in each category behave, you can understand how each influences revenue. This research focus on delivering personalized marketing, build loyal relations, price products effectively, and forecast how new products and services will perform in each segment.
Our company researchers make use of four features to segment customers which are:-
- Usability Testing: – This typical social and market research deals with understanding how customers use your products in real time. This may involve physical products or digital products e.g. Website or app. This is helpful when your company need to detect problems or bugs in early prototypes or beta versions before launching them. You need to also know that, there are several types of Usability tests and they are:-
- Eye Tracking studies which monitor where people’s eyes are drawn. This are conducted on websites and apps.
- Click Tracking- This follows users’ activity on websites to evaluate the liking structure of a website.
- Journey Testing – This involves observing the customer experience on an app or website and monitoring how they perform. This is complete social research methods because it is done online, basically, social media.
- Learn ability studies – This studies quantify the learning curve over time to see which problems people encounter after repeating the same task.
- Checklist testing – This involves giving users task to perform and recording or asking them to review their experience.
However, all the classification of market research mentioned above can be carried out by Bulls Capital Limited on behalf of your company, having it in mind that, the main goal of the research is to improve and give satisfactory services to your customers.
Social and Market research not only helps in identifying new business prospects, but also aids in designing marketing campaigns that will directly target the interest of your potential consumers and help in increasing sales. It provides valuable information about the potential of a particular market segment, during a specific time, and within a particular age group
Social and Marketing research is a good evaluation tool that can be of great use in comparative studies. You can track your company’s growth as well as the growth of your competitors, by keeping an eye on your competitors. You can devise business strategies that would keep you ahead of your business rivals and if you work with us at Bulls capital Limited, you will so much appreciate the concept.
Finally, In Bulls capital limited, we believed that social and market research services are beneficial to determine features and benefits that distinguish you from your competitors. These are then translated into emotionally compelling consumer language.
Social and Marketing research is needed on a continual basis, if you want to keep up with the latest market trends and gain a competitive edge in the business market
However, the moment you’re thinking about adding something new, social and market research can find market opportunities and provide insights into customer challenges or their jobs-to-be-done, so you can find a way to fill the gap by getting across to us via www.bullscapitaltd.com. We will help you in carrying out a reliable social and marketing research.
Do you need our service in Social and Market research, please call 08023200801, 08075765799, email: email@example.com. Alternatively, you may complete our request for proposal form hereunder.