Customer research analysis is used to determine the customer's needs. Companies of all sizes conduct marketing research and corporate customer and consumer research, who are people who shop at retail outlets , online or by mail. After the reviews are completed, the marketing analyst or manager will usually analyze the data from the review, then report the results to management. Consumer research analysis is an important function from which to make key business decisions.
Value
Consumer research analysis helps market research professionals identify the wants and needs of their consumers. Once these desires are known, companies can develop marketing strategies to understand what the consumer wants and needs. Companies that cater to the needs of their customers can usually expect big sales and profits.
Types
Marketing research professionals typically conduct consumer research analysis on both a qualitative and quantitative level. Qualitative analysis of customer research includes focus groups and one-on-one interviews in which company employees collect data from groups or individual customers. Qualitative analysis of consumer research helps provide basic information about new products, but the data cannot be used to predict future buying behavior. In contrast, consumer research analyzes done on a quantitative basis, such as telephone surveys, involve much larger sample sizes and are therefore more reliable in predicting purchasing behavior in the general population.
Identification
Customer research analysis is often used to assess customer satisfaction with a product. This type of analysis allows market research analysts or managers to pinpoint the factors that drive low levels of satisfaction. Low satisfaction can be the result of customer dissatisfaction factors ranging from product quality to price. Analysis of consumer research can also reveal factors in which the consumer is highly satisfied.
Function
Consumer research analysis is also used to determine a company's brand and advertising awareness among consumers against that of key competitors. If an analysis of a company's consumer research shows low brand and advertising awareness among the
