Vancouver Market Research – Company Services

To understand customer/stakeholder needs, your company’s strengths/weaknesses, competitive threats and opportunities to broaden offerings. Can also be used to test new ideas and pricing structures. These are usually done by phone; if the interviewee is a customer of yours, we ask you to get their consent to participate ahead of time. 

NOTE: Depth Interviews are a type of Exploratory or Qualitative research (more like a discussion, not usually using numeric/rating scales) so usually are less precise for measurement purposes and use fewer respondents than surveys. However, themes are tabulated and typically give very strong strategic direction.

To find or identify patterns, such as weak spots or pockets of opportunities. Can be done with existing customers or with larger swaths of potential markets to identify habits, opinions, buying patterns, needs and demographics. For example, customer satisfaction across multiple company locations can compare satisfaction from location to location or from one year to the next. Asking questions across a large geographic or demographic sampling can identify which buyers are more likely interested, and where they are.
 
NOTE: Since the purpose here is precise measurement, it is important to get random selection of a significant number of respondents wherever possible. If measuring over time, survey questions should be consistent. While some open-ended questions can be included, most Surveys are “measurable” – i.e. closed-ended questions such as “yes/no” or “on a scale of”

To test and refine new ideas, especially visual ones. Focus groups are a great way to get a reaction to something you need to “show and tell.” When people take an interest in what you’re showing, often new ideas come about to tweak and improve the offering, to make it stronger. Once you have shown them the idea, you can also ask what they might be willing to pay for it. 
 
It is crucial to have an experienced focus group moderator who writes the guide for the discussion (topics of discussion), and ensures a balanced, unbiased discussion. Tenato has resources for recruitment, qualified moderators and focus group facilities in Vancouver.

To determine your fit with prospects in a new market (how to diversify), segment target markets, and understand the competitive landscape. This usually involves identifying several types of prospective customers for a business-to-business company, and then conducting in-depth interviews once the correct level (buying decision maker) within that company is identified.  
 
Most companies will use this to help determine how to diversify their offerings and find unmet needs of prospects in a new or existing market. Can also be used to assess sales techniques and processes.

To identify and assess your strengths, weaknesses and opportunities vs. competitors. This can be done through online, phone, in-person means. Some businesses also may wish to actually purchase products/services from competitors to assess the quality, service and engineering.

To determine if your new product/concept will succeed. A feasibility study is made up of several kinds of research, which then concludes with a recommendation on whether to proceed as-planned, proceed after suggested changes to the product, or not to proceed. Please visit our Feasibility Study page for more information.

To determine market size and/or market share. This is usually done by mainly “Secondary Research”, i.e. rounding up the latest existing studies and data on the size, growth, key players, legislation and trends in the market. Tenato also uses ground-breaking big-data and social media monitoring for finding leading-edge trends, as well as local resources such as Vancouver Community Profiles provided by the City, Vancouver Economic Commission and BC Economic Reports. In some cases, we also contact industry leaders (such as those at the Greater Vancouver Real Estate Board) to give us first-hand and current comments on what is happening. 

If you only have a couple of questions to answer, but need a highly accurate measurement of market size/demographics. An omnibus or panel survey allows you to tack-on your questions into an existing regular public panel; in fact, there are online survey panels going on all the time, and questions are being responded to by volunteer panellists who are paid across the country to answer surveys every week.  

These charge by the question and number of respondents (costs go up if you need a more specific audience, such as minimum of 500 women homeowners only). If you have more than 5 or so questions it will likely be worth it to do a “dedicated survey” – i.e. a survey written just for your purposes, and then execute that. Tenato works with you to determine the questions needed, executes with the panel company and analyzes the data.

To find or build qualified lists for sales prospecting. This can be done through credible list suppliers or through individual pre-qualifying based on initial research into specific companies. Costs will vary based on whether specific contacts within companies are necessary, the size of those companies, and the degree of pre-qualification needed.