Whether it is for a market opportunity assessment or voice of the customer analysis, Orr & Boss uses state-of-the art research methodologies and sophisticated analytic techniques to develop, process, and interpret critical market insights for clients. These in-depth market findings are then transformed into sound business decisions and mission critical marketing strategies. Some of the important steps of a typical marketing assignment with Orr & Boss include the following:
- Marketing Needs Assessment
This first step of the process usually involves Orr & Boss helping the prospective client to frame up the company's perceived marketing needs. There are several techniques that we use to begin to understand what kinds of market insights are needed.
- Marketing Program Design
Before the actual research begins on most marketing assignments, the overall structure of the program must be established. There are many components to this important step including determining the target population of interest and the required sampling design, developing the questionnaires or interview guides, establishing which data collection methodologies will yield the desired results, deciding upon the appropriate analytical techniques to be used, etc.
- Data Collection Methodology
Depending on the nature of the assignment and the expected outcome, a variety of data collection techniques may be used to extract the critical market insights.
- Primary Research
Most of our marketing assignments depend heavily of our direct interaction with market players such as customers, suppliers, channel participates, end users, etc. Primary research involves conducting surveys and/or interviews with a sample of the target population group(s) in the industry or segment of interest. Orr & Boss uses both quantitative and qualitative research techniques.
On some assignments, Orr & Boss conducts targeted secondary research to supplement the rich findings that we obtain from primary research. Secondary research involves the review of already published documents and databases such as industry trade journals and trade association publications, syndicated research reports, on-line data sources, etc. While we rarely depend heavily on secondary research for one of our assignments, these sources are often useful for providing background information and filling in gaps from the primary research.
Data Analysis Methodology
Once all of the research has been completed, Orr & Boss analyzes the raw data and turns them into usable findings. The types of analytical techniques employed depend a lot on whether the research conducted was qualitative or quantitative and what the desired output of the assignment is. Examples of some of the techniques for quantitative research include market segmentation, multivariate statistical analyses, conjoint analyses and time series forecasting.