MARKET RESEARCH SERVICES
Our Market Research Services
At Business Cardinal, we see market research as one of the fundamental and pivotal task that all organizations must perform irrespective of their industry.
The force of market research is something that ought to never be underrated. The quest for new business sectors and eventually new clients, ought to be what drives organizations, however guaranteeing it’s done at the ideal opportunity and by the perfect individuals is something regularly neglected. Business Cardinal offers a comprehensive desk-based market research service that delivers tailored reports specific to a business’ needs; producing valuable insight into your business and the wider marketplace. Whether you’re looking to increase your local reach in Nigeria or you are looking to break into a new international market, the Business Cardinal market research team have you covered!
We help bring technical and various industry experience to bear and aid corporations & entities in transforming their market research functions thereby increasing several parts of the organization. Our market research is divided into 3 key pillars:
- Nigeria/Local Market Research
We can help businesses of all sizes discover opportunities to sell their products/services within the Nigeria jurisdiction
- Nigeria/Local Market Selection
This service helps businesses target and prioritize the markets where the best opportunities lie for your specific products/services.
- International Market Research
We can help businesses of all sizes discover the very best opportunities for their products/services in markets across the world.
WHY IS MARKET RESEARCH IMPORTANT?
Market Research is important to all businesses
- Valuable information:
It provides information and opportunities about the value of existing and new products, thus, helping businesses plan and strategize accordingly.
It helps to determine what the customers need and want. Marketing is customer-centric and understanding the customers and their needs will help businesses design products or services that best suit them.
By understanding the needs of customers, businesses can also forecast their production and sales. Market research also helps in determining optimum inventory stock. By conducting research with consumers, businesses can get an idea of whether they are optimistic or apprehensive about the direction of the economy, and make adjustments as necessary.
- Competitive advantage:
To stay ahead of competitors market research is a vital tool to carry out comparative studies. Businesses can devise business strategies that can help them stay ahead of their competitors.
Potential opportunities, whether they are products or services, can be identified by conducting market research. By learning more about your customers, you can gather insights into complementary products and services. Consumer needs change over time, influenced by new technology and different conditions, and you may find new needs that are not being met, which can create new opportunities for your business.
- Form partnerships with other businesses
Learning about who your customers are, such as their demographics, can help you find other small businesses that serve them. You can approach these businesses for joint promotions that’ll be mutually beneficial.
- Create profitable order upgrades
Knowing the other products and services that your customers tend to buy can help you come up with add-ons, product bundles, and upsells that increase the average value of each order.
- Find new locations to sell to.
Knowing the geographical areas where most of your target customers live will allow you to create compelling targeted campaigns that suit the needs and culture of that area.
- Test new designs and products before launching
Before you go all-in on a dramatic change for your business, you can test it on a smaller subset of your audience to see if the change would be welcome. For example, if you plan to do a redesign of a popular product, show the new design to your most frequent buyers. Test or ask them if they’re more likely to buy the new design versus, an alternative new design, or the old design.
- Find out why customers don’t come back.
Ideally, your small business should have recurring customers. If they don’t come back, you can conduct a survey of previous customers or set up a focus group to find out why you’re not making any repeat sales.
- Get insights on problem areas
If your most popular product sees a big drop in sales for three consecutive months, you need to find out how to fix it before it ruins your profits completely. Survey your most frequent customers about the product and find out where the problem lies. It could be anything from a decline in the product quality or a glitch on your online store. You’ll never know unless you ask.
WHAT WE DO?
Business Cardinal is a global market research company that provides business-to-business and consumer research, both quantitative and qualitative, throughout Nigeria and worldwide. We provide a full range of research consulting, data gathering, programming, tabulating and analytical services. All of our services are available on an as needed basis for qualitative and quantitative research both in Nigeria and Internationally.
Business Cardinal is widely respected for offering a consistently high quality of market research support. 90% of our business is generated from repeat clients and referrals. We recognize the value of commitment to our clients’ needs and wishes. We have extensive experience in diverse consumer and B2B categories as well as target respondent groups and various types of studies.
At Business Cardinal, our market research services help businesses identify growth opportunities and build a competitive strategy based on deep understanding of customers and the overall marketplace. Whatever type of research project you’re running we can take care of some or all of it through our flexible services model. Just let us know where you need support, and we’ll step in and take care of the rest.
We offer the following market research services:
- We define top competitors and analyze their strengths and weaknesses to help gain and steal target market share
- We identify opportunities and create strategies that will result in a sustainable competitive advantage.
- We help capitalize on emerging opportunities and identify areas for improvement.
CUSTOMER / CONSUMER RESEARCH
- We help define customer segments, needs, and behaviors in order to identify unmet customer needs and/or opportunities for business growth.
- We help determine receptivity of new products or services.
- We help uncover the precise needs of customers, how these needs are currently being fulfilled, and what is required to better satisfy these customers.
- We provide in-depth industry analysis, data, trends, market share and forecasts to help start and grow your business.
- We help understand predicted market conditions, as well as supply and demand within a specific industry.
- We provide valuable industry insight and trends to help determine marketing and growth strategies.
- We provide in-depth analyses to help determine how sound the current business ideas are and evaluate the project’s potential for success.
- We uncover the strengths and weaknesses of an existing business or proposed venture, as well as the opportunities and threats.
- We assess economic, technological, legal and scheduling factors to determine potential positive and negative outcomes of a project.
Our other Market Research Services Includes:
Design & Programming
- Survey methodology
- Survey design
Sample and Fielding
- Panel/sample recruitment
- Project Management
- List distribution
- Incentive distribution
- IHUT Studies
- Focus Groups
- Computer Moderation
- Data Weighting
- Open-ended Coding
- Data Cleaning
- Tabulations (stats testing)
Analysis & Reporting
- Conjoint / MaxDiff
- Regression Analysis
- Segmentation Analysis
- TURF Analysis
- Pricing Analysis
- Key Driver Analysis
- Perceptual Mapping
WHY YOU SHOULD CHOOSE US?
Unlike other market research firms, we employ a robust, comprehensive market research strategy to ensure maximum research coverage. Our market research consulting involves the application of the right methodologies across primary and secondary sources to gather market intelligence. You should choose Business Cardinal for your market research services because:
We continuously gather and scrutinize valuable data with the help of our exhaustive and profound market intelligence expertise. Our research spans across hundreds of categories, industries and countries helping organizations gain market context and identify future trends.
Our specialized tools help create individual solutions that drive successful business decisions. By catering to specific requirements in a personalized format, we have achieved a reputation for providing one of the best custom research studies in the market.
CENTRALIZED AND DEPENDABLE ASSISTANCE
We band together all our services by bringing them under one umbrella thus enabling a hassle free and centralized market research solution for all kinds of needs. We offer after sales service to cater to individualistic needs and corrective requirements.
We have more than a decade of research experience across industries and geographies. Our dedicated team of experts comprising of experienced data analysts, consultants and strategists work in constant synergy offering the most accurate and balanced market analysis.
We have a team of accomplished researchers, analysts and project managers with domain expertise.
FAST AND EFFECTIVE SOLUTIONS
We offer Customized Research Solutions cost-effectively in the fastest turnaround time.
We deliver objective feedback and actionable insights to help you make strategic decisions for your business.
Our commitment extends beyond customer satisfaction. We seek long-lasting partnerships that create real value for everyone.
We build serving and longstanding relationships to support our client’s business and personal interests throughout the lifecycle
We are present in over 5 states in Nigeria. Our local network extends to Lagos, Ogun, Rivers, Abuja and Delta state with our offices placed there
Actively involved in leading trade and industry bodies shaping the changes affecting your business.
Our sector experts and consultants excel at reading the fine print from underlying data to generate custom market research data and actionable insights. Finally, as part of our market research solutions we deploy advanced BI & visualization techniques to highlight our findings.
Business Cardinal’s market research services span almost every major industry in the Nigeria as well as many niche and international markets and industries.
Our research is an essential tool in helping entrepreneurs successfully complete their business plans and investor presentations as well as understand their industry and market potential.
We ensure that the fieldwork for your research provides accurate and actionable insights for your business needs with the help of our highly talented pool of very senior marketing professionals who have worked in different levels in FMCG, Automobile, Healthcare, Pharmaceuticals, Medical Devices, Telecom, Banking & Finance, Travel & tourism industry, Consumer Goods and Appliances, Fashion Beauty and Apparel, Luxury Segment, Media, Technology and e-commerce and Home & Garden.
- Apparel and Fashion Market Research Services
- Entertainment Market Research Services
- Automotive Market Research Services
- Health Care Market Research Services
- Beauty and Cosmetics Market Research Services
- Hotels & Hospitality Market Research Services
- Construction Market Research Services
- Insurance Market Research Services
- E-Commerce Market Research Services
- Real Estate Market Research Services
- Restaurant Market Research Services
- Video Games Market Research Services
- Retail Market Research Services
From leading-edge custom online communities and panels for today’s tech-savvy consumers that help you connect with your customers in new more relevant ways to questionnaire design to survey programming to data crunching & reporting, we offer a full menu of market research services and deliver with top notch quality.
Business Cardinal is one of the most experienced and advanced online market research firms. We are known for innovation, leading-edge technical solutions and excellence in customer service and product delivery. Our belief is that marketing research must be as fast-moving, dynamic and ever changing as is today’s consumer-centric tech-world: it is important to embrace new consumer technologies and include them as tools and methodologies so that we can reach people and communicate with them in new and more relevant ways leading to better insights and understandings.
If you want your business to succeed, and / or if you need to convince investors or management to fund your initiatives, it is critical that you are equipped with the right industry, market and competitive data and intelligence that support and validate your business and growth plans.
Business Cardinal conducts comprehensive industry, customer and competitor analyses in order to determine market opportunities. Our research team then assesses each of the opportunities, determines the optimal ones, and creates action plans for effective market penetration.
Get started today and submit an enquiry to Business Cardinal
Contact Business Cardinal today
If you would love to engage us for this service, please call us on 08023200801 or request us to send you a proposal by email to email@example.com or complete our customer enquiry form for more details.