Why Market Research Companies Want Your Opinion
Although the systematic observation of socio-, political and economic phenomena and the effects that they had on finite population groups are steeped in the history of global civilisations, it wasn’t until the 1940s that structured questions and probability samples were put to individual groups or certain segments of a population by market research companies to achieve a measurable sampling statistic. It was then that the founders of the field formulated the basics of data collection and the tools to convert this data, collected from surveys, into useful, usable information.
In today’s modern society, market research companies still follow these basic principles, but now the information collected is far more accurate and measurable. There are many reasons why a company producing or providing a product or service might need and use this collated data, and they would pay significant amounts of their marketing and advertising budgets to obtain this information, usually with the aid of market research companies. Let’s examine three of the most important reasons why they need you.
Getting to Know their Loyal Supporters
A company providing a product or service needs your opinion and they will do that using market research companies, specifically if you are a faithful supporter of their existing brands. They need to ascertain important information from you, such as why you support their products above their competition, what your likes or dislikes about the brand are, who or what affected your decision to buy their brand, and, most importantly, what can they do so that you remain loyal?
Identifying New Customers or Target Areas
To identify a new target area or customer base to launch new product ranges, the company will need to understand who these new clients will be and which demographic they would best fit into. They would do due diligence by learning your opinion through reputable market research companies asking questions to find out how old you are, whether you would use their product, your occupation, income level and marital status.
Seeking Expansion Opportunities
Market research companies also hand over pertinent information that they have collected from your opinions to their clients so that they can investigate expansion opportunities. Accurate information from you, the user or consumer, assists them in making key decisions on expansion opportunities. The information you supply is important because should they decide on expanding into the wrong target areas, the decision could negatively impact the quality or price of the product or service that you’re already supporting.
Accuracy and Honesty are Key
When you are approached by market research companies for your opinions about a brand, it is important to be honest, sincere and accurate. The answers you supply might provide critical information to secure your continued loyalty and ensure more competitive pricing or more discounted sales on your favourite products.
MobiWorkX South Africa is one of the leading market research companies in Africa. We have been supplying true and accurate information to our clients for more than 10 years. This is why we need your opinions and we will pay you for them. Join our forever-growing list of loyal members and earn while you learn. Answer easy, straightforward questions honestly and accurately and get paid with the bonus of possibly seeing your opinions impacting the availability and pricing of your favourite brands. Join today to start earning!