Market research: a valuable support for the business consultant
Posted: Tue Dec 03, 2024 7:03 am
It is therefore not surprising that those who commission ad hoc studies are not only companies, but also uk phone number list business consultants with different specializations: production consultants, process consultants, professionals specialized in drafting business plans, management consulting firms. They are heterogeneous figures, but all called upon to contribute significantly to the definition of business plans , each in their own area; to best carry out their task, they need the most precise information possible on the scenario in which they will operate.
Market research is, for them, an additional tool to use to offer a better service to client companies. Creating synergies with agencies structured to provide customized market research allows them to manage the collection of information in the best way and to increase their value in the eyes of the client.
Who is the business consultant and what does he need?
As mentioned, there are consultants specialized in every branch of business management. They range from financial consultants to those expert in organization and personnel management, from technicians in charge of product development or reviewing processes to those who, by combining different skills, are able to trace new routes for the company with strategic plans for expansion into new markets, or through profound revisions of the internal structure.
Even though none of these figures have the explicit task of defining marketing strategies, market feedback is almost always an essential element for the success of their work. Just as an example, we can remember that an in-depth knowledge of the competitive scenario and consumer preferences is needed for:
build reliable business plans;
design or redefine products and services with high potential for success;
drive a geographic market expansion, or a line expansion;
establish new after-sales support processes.
All these operations in fact need to be based on a broad and solid information base. Many of the necessary data can, fortunately, be drawn directly from the history of the company itself and from the previous experience of the professional; however, many questions remain open on the potential of a product or a market, on the probable reactions of the public, on the investments estimated as necessary to counter the competition.
Generally, market research structured according to the specific needs of the project is the only way to obtain this type of answers.
DO YOU THINK THAT MARKET RESEARCH COULD BRING ADDED VALUE TO YOUR CONSULTANCY? WE ARE HERE FOR THIS
A highly specialized job
Market research is a wide and varied world. Market research can investigate many different areas and can be carried out with very different methodologies, each of which has its own advantages and disadvantages. Furthermore, they need specialized figures to be created and carried out. They usually involve data analysts, sociologists, psychologists, marketing experts.
In other words, it is not a job that can be improvised: the questionnaires themselves, which may appear simple to those who read them, are actually drawn up with the utmost attention to every word and to the overall structure of the questionnaire itself to avoid giving rise to the many possible biases linked to the way our mind works. Similarly, the interpretation of the data collected and their presentation in a form intelligible to the reader presents a series of challenges, well known to those who deal with data analytics and data visualization.
However, it is not only the consultant who benefits from collaborating with market research experts. When the client of the study (or in any case the company's contact) is an expert professional, in fact, it becomes easier to better define the scope of the investigation and the specific questions to which one wants to find an answer. In some cases, in fact, defining the right question can be more difficult than finding the answer.
Precious synergies
The objective advantages that a business consultant can obtain from market research also have another side: increasing their perceived value in front of the client company . A fundamental ingredient of business consultancy is, in fact, trust: the trust that the company grants to the chosen consultant. It is from this feeling of trust that the will to involve him in their growth, reorganization or recovery projects derives.
The possibility of offering a complementary service such as market research , through a partnership with a specialized company, strengthens this trust by giving the image of an attentive, expert professional, with his own support network for specialized services complementary to his own. It also demonstrates the willingness to work starting from the data, increasing the chances of success of the operation.
Market research is, for them, an additional tool to use to offer a better service to client companies. Creating synergies with agencies structured to provide customized market research allows them to manage the collection of information in the best way and to increase their value in the eyes of the client.
Who is the business consultant and what does he need?
As mentioned, there are consultants specialized in every branch of business management. They range from financial consultants to those expert in organization and personnel management, from technicians in charge of product development or reviewing processes to those who, by combining different skills, are able to trace new routes for the company with strategic plans for expansion into new markets, or through profound revisions of the internal structure.
Even though none of these figures have the explicit task of defining marketing strategies, market feedback is almost always an essential element for the success of their work. Just as an example, we can remember that an in-depth knowledge of the competitive scenario and consumer preferences is needed for:
build reliable business plans;
design or redefine products and services with high potential for success;
drive a geographic market expansion, or a line expansion;
establish new after-sales support processes.
All these operations in fact need to be based on a broad and solid information base. Many of the necessary data can, fortunately, be drawn directly from the history of the company itself and from the previous experience of the professional; however, many questions remain open on the potential of a product or a market, on the probable reactions of the public, on the investments estimated as necessary to counter the competition.
Generally, market research structured according to the specific needs of the project is the only way to obtain this type of answers.
DO YOU THINK THAT MARKET RESEARCH COULD BRING ADDED VALUE TO YOUR CONSULTANCY? WE ARE HERE FOR THIS
A highly specialized job
Market research is a wide and varied world. Market research can investigate many different areas and can be carried out with very different methodologies, each of which has its own advantages and disadvantages. Furthermore, they need specialized figures to be created and carried out. They usually involve data analysts, sociologists, psychologists, marketing experts.
In other words, it is not a job that can be improvised: the questionnaires themselves, which may appear simple to those who read them, are actually drawn up with the utmost attention to every word and to the overall structure of the questionnaire itself to avoid giving rise to the many possible biases linked to the way our mind works. Similarly, the interpretation of the data collected and their presentation in a form intelligible to the reader presents a series of challenges, well known to those who deal with data analytics and data visualization.
However, it is not only the consultant who benefits from collaborating with market research experts. When the client of the study (or in any case the company's contact) is an expert professional, in fact, it becomes easier to better define the scope of the investigation and the specific questions to which one wants to find an answer. In some cases, in fact, defining the right question can be more difficult than finding the answer.
Precious synergies
The objective advantages that a business consultant can obtain from market research also have another side: increasing their perceived value in front of the client company . A fundamental ingredient of business consultancy is, in fact, trust: the trust that the company grants to the chosen consultant. It is from this feeling of trust that the will to involve him in their growth, reorganization or recovery projects derives.
The possibility of offering a complementary service such as market research , through a partnership with a specialized company, strengthens this trust by giving the image of an attentive, expert professional, with his own support network for specialized services complementary to his own. It also demonstrates the willingness to work starting from the data, increasing the chances of success of the operation.