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Data Collection- One of the most important steps of market reseach

One of the most important steps in market research process is data collection. Data collection helps in collecting information about customers, competitors and other market factors. This information helps companies in taking important decisions for improving their products and services.

The result derived by undertaking the offerings of one of the many reputed data collection companies in India such as our ownalso helps companies in planning a strategy to expand their business and launch their products and services in new markets.

Companies usually have a separate division for conducting market research. However, now-a-days many companies have started outsourcing market research task to various agencies so that they can benefit from concentrating on their core competencies.

Data collection involves collection of qualitative as well as quantitative data. With the help of internet, data can be collected from a broad range of consumers. It has now become much easier to study the needs, attitude and behaviour of customers across the globe. Impetus offers the finest in market research services to aid your requirements.

Data Collection

  • Primary Data Collection - Primary data collection means collecting data through field survey. It is the original data that is collected by researchers and this service helps companies extract data from the grass root level.
  • Secondary data Collection - Secondary data is extracted from existing data. It is a quicker and cheaper way of gathering information, the service itself helps companies extract useful data faster so as to be able to implement it sooner.

Methods of Data Collection

Qualitative Research - Qualitative research is a non-statistical research technique. In this technique, we collect data for our client by observing an individual or a small group of people.

The main aim of this particular service is to gain an understanding of human behaviour and the reason behind their behaviour. The set of questions asked in qualitative research varies depending upon the thoughts and feelings of the respondents.

Eventually, we offer a service which leads the business to an understanding of the reasons by the market trends they perceive and this is why it’s so important that you commission our services.

How qualitative research is carried out?

  • In-Depth Interviews: In these interviews, interviewer asks certain questions from respondents to gather information like what people think about a product or service. These interviews can be conducted face to face or on telephone. Also these interviews can be one to one, with two respondents (diads) or with three respondents (triads) depending on the requirement.
  • Focus Group Discussion: It is also a very effective way of data collection. It involves a group discussion with around 8-12 respondents and consists of 2 or 3 interviewees. The discussion goes on for around one or two hours and is recorded.
  • Direct Observation: In this technique, researchers observe the behavior of respondents in their natural environment to gather information.

Quantitative Research - It is statistical analysis in which every respondent is asked to answer the same series of questions. We set the questionnaire in such a way as to find out the view different consumers have on various products and services. It is a structured approach that is based on facts and figures. The most popular quantitative research technique is market research survey.

Online survey is a cost effective and quick way of doing survey. These surveys help researchers in gathering all the required information and drawing conclusions.

Thus, we at Impetus Research understand that data collection companies in India such as ours serve the purpose of helping any organization lay the foundation stone to their success in their respective industry. We offer quality services to guide our clients to the success they desire.