Market Research

Overview

Understanding markets and customers is the bedrock on which business planning and strategy are built. Without knowing your customers needs and wants or understanding demand, your business will be under constant threat from competitors and may be failing to extract the maximum value from your market.
Openmedical provides excellence in market research through our extensive experience in working with and for blue chip clients in the UK and internationally. We focus on providing better research techniques, more able to understand why and how customers make choices and a better research process, based on understanding the business and commercial context. We work across industries, including media, technology, pharmaceuticals, financial and other businesses, consumer-facing or business-to-business. See some examples of our work.

Excellence in research techniques

We can and do provide straightforward qualitative and quantitative research techniques for a full range of research areas. However our main focus is on understanding, modelling and affecting customer decisions and choices to increase business and marketing effectiveness.

  • Conjoint Analysis/Market modelling
  • Segmentation
  • On-line and Internet Research
  • Pricing Research
  • Brand equity and brand studies
  • Hierarchy of needs studies
  • Quality of Service Review
  • Customer satisfaction
  • Sensory-emotional decision making
  • Usability research

Understanding the business and commercial context

The aim of market research should not just be about identifying areas of customer demand and uncovering insights, it also has to identify areas that can be profitably addressed. This means understanding the real business implications and existing business practices. Communication and sharing of insight and results, understanding production and supply implications and identifying stakeholders and influencers for the research are all important in making a research project successful. A brief case study illustrates how the understanding the business context impacts on the research outcome.

Improving the research process

Finding market insights and gathering market research does not sit in a vacuum. The design and outcomes of a market research project have to reflect not just the results, but the way in which your organisation could and should use the data and turn these into real market insights that will help the business move forwards.

Our market research and insight process is designed so that we take more care to understand your goals and constraints and use this to deliver better value and sharper insights from the research we carry out. We find that effort up-front pays great dividends at the end in terms of the quality of the recommendations from the research. We carry out workshops, use iterative design principles so you and your team are involved in the research from the word go.

Since we started we have believed that companies want and should be involved in carrying out their own market research with their own staff in order to become more customer focused. We have always provided a range of research resources for these companies and can help in the design or management of large scale customer involvement studies, but we also know companies know their limits and do need help and advice from time to time.