Market Research

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Since the probability of success equals one minus the probability of failure. Reducing the probability of failure increases the probability of success.

This is where the science of market research enters the equation – market research reduces the probability of failure. The better you understand your market, the better you will meet the market’s needs and the better you will communicate to buyers. A dearth of market research will cause you to rely only on art, and most people are lousy artists.

Silicon Strategies Marketing performs your market research, both primary and secondary. Our research methods create a solid foundation for making go-to-market decisions and thus increase your probability of success.

Primary market research

Quantitative market research

“Primary” market research gathers data directly from people who make or influence buying decisions. Through structured approaches, both quantitative and qualitative data are acquired and assembled into meaningful business actions.

Silicon Strategies Marketing conducts a broad range of market research. We host our own online survey infrastructure and conduct mailed surveys when necessary (click here to see a demo of our survey suite). Surveys allow for gathering highly accurate knowledge about the strength of demand and preference for any aspect of a market or whole product feature set.

Silicon Strategies Marketing also conducts competitor analysis, which when paired with quantitative analysis creates your product positioning opportunity map. Positioning and roadmaps are essential to maneuvering past competitors and affordably gaining market share.

Qualitative market research

Numbers only tell part of the story about your customers. Numbers tell you which opportunities are better than others. Understanding the opportunities themselves requires understanding nuances about business and personal goals of buyers.

Silicon Strategies Marketing conducts various qualitative research to discover your market’s expected outcomes – what customers actually want as opposed to what they perceive is possible. Once you know what customers hope to achieve, designing and promoting products becomes less risky and customer demand increases significantly. Deep interviews Deep interviews are one-on-one dialogues with key buyers or influencers. Through guided processes, Silicon Strategies Marketing interviewers discover both functional and emotional outcomes that people want to achieve. Once the full spectrum of needs is understood, product and marketing strategies can be defined and executed. Focus groups Focus groups are similar to deep interviews except group dynamics are used to understand which motivations are subject to group reinforcement and how that relates to product discovery, referencing and adoption.

Secondary market research

Often a significant amount of primary research is available from analyst groups or trade organizations. As valuable as this raw data is, it typically is generalized and broad. Such research must be understood within the context of your specific markets, segments and your position therein.

Silicon Strategies Marketing discovers, acquires, aggregates, analyzes and incorporates secondary research into your marketing strategy. Often this is the fastest method for making high-level decisions on product direction and new market exploitation. Silicon Strategies Marketing assures that the raw information is appropriate to the needs of your organization and that it is synthesized meaningfully for your specific competitive situation.

Be certain that you know your markets, your competitors and your buyers.
Contact Silicon Strategies Marketing today to discuss researching your markets.