Every business relies on market research
to monitor consumer trends and predict behaviour. In order to identify USPs and key selling points, to meet demand and maximise ROI, you need a clear view of the landscape so that decision makers can determine the best means to grow. Market research itself is a growth industry, as modern communications, technology and software developments afford an unprecedented insight into consumer and market behaviour.
Video conferencing is increasingly common, Skype interviews and meetings are an almost daily phenomenon, and effective market research relies heavily on surveys and questionnaires. While you will find useful general information from a variety of sources that provide businesses with demographic information, you’ll need to adopt a range of qualitative research methods to find personal and descriptive data. It’s this kind of qualitative information that gives an insight into why a consumer will choose your business over a competitor’s, and on what specific areas of your business are most valued by consumers.
Telephone interviews, Skype, Google Voice, and the more familiar orthodox client interview yield a wealth of information that, if transcribed verbatim, would generate data-overload. Transcription services, often using an Intelligent Verbatim approach that eliminates unnecessary conversation and provides a summary of key information alongside key quotes, allow companies to generate usable data.
Hardcopy transcriptions are useful for reports, and for passing on information to those who weren’t present during an interview, while electronic copies also allow for tabulation of data through search functions and the construction of contingency tables. Transcription is a necessary tool for analysis of the data collected, and ensures accurate and detailed reports of market research that can be used for funding and project proposals. Identifying categories, sub-groups and variables with greatest effect on turnover and customer satisfaction is what gives market research power and transcriptions of interviews an essential means of constructing models and strategies.
Here at Take Note
our expertise lie within the market research sector and we are currently used by some of the biggest market research companies in the UK
. To find out more about our services be sure to browse our website or get in touch with us on 0207 928 1048.