Market Research

Market research can be massively expensive and businesses such as Tesco will spend more on various forms of market research in any 12-month period than the turnover of any Cornish private sector firm. The principles remain the same, however, and many types of market research need not be wildly expensive or time consuming to execute. Indeed, Joseph Swain Media can often access some pertinent market research either at no cost (other than it's own pre determined fee) or in a highly cost efficient manner... again without either commissions or mark ups inflating the price paided by the client.

Above all, Joseph Swain Media can advise clients on the market research they need to be conducting, how best to execute it and, if we cannot do it, recommend a competent third party research company that can.

Finally, while market research to establish that businesses have identified a profitable niche for their products/services, existing and new, and what existing customers/clients think about our business is of fundamental importance, other forms of market research are vital to a businesses future development and profitability. This may not just involve customers/potential customers but staff/potential staff and decision influencers i.e. people who can recommend our products/services. or not. Above all, market research is as vital to an owner managed business as to a large private limited company. For example, recent research has proved that constantly listening to existing customers/clients (praise and criticism) is far more likely to lead to business growth than simply spawning new business divisions and products/services. A new 'buzzword' in larger businesses is the Customer Experience Manager' i.e. a person who simply monitors the experiences of the firms existing customers. who in turn can input positive ideas to enhance existing services and even input new business ideas. In a smaller business this can be achieved by the MD or other senior director/manager regularly talking to/e-mailing existing customers to elicit their frank assessment of the firms achievements, product line, new product needs etc

Finally, ongoing market research can be as simple as allowing staff to feedback (in total confidence) their own views/experiences via a third party.