Market Research

Aistrup Consulting can help you get and maintain a competitive edge through all stages of your product and company life cycle by using actionable, well designed Market Research. We use a variety of research techniques to give you a comprehensive view of your market, customers and competitors.

30 critical questions that we can address throughout your product cycle:

2 Types of Market Research

Market research can be split into two main categories; Secondary and Primary. These types of marketing research complement each other well, and when used together, they will give you a well rounded and accurate picture of your market sector.

Secondary market research uses existing data from any and all reliable sources. Key resources include government data, industry association reports, trade publications, peer reviewed articles, investment analysts, competitors’ published information, media reports, commercial research reports and paid databases. Secondary market research can be relatively fast and inexpensive, but you need to be aware of potential drawbacks:
  • The data rarely meets your exact needs and will probably need some tweaking.
  • Information sources frequently have a biased perspective and a vested interest in the results.
  • It can be difficult to determine if a commercial research report will actually answer your questions before you buy it.
  • Much of the information available is outdated and must be extrapolated to today’s markets.

Primary market research is the design and collection of your own custom information. Primary research is focused by controlling the number of participants, their backgrounds, the number and nature of the questions and the post-survey analytics. It tends to be more expensive and more time consuming than Secondary research. Primary research can be either Qualitative or Quantitative.

The aim of marketing is to know and understand the customer so well the product or service fits him and sells itself.
Peter Drucker

…and the aim of Marketing Research is to help you to know your customer that well! Call us to get started today!
Aistrup Consulting

Qualitative research is one type of primary market research that gives an in-depth understanding about an issue. Qualitative research typically focuses on a small number of people. Since these people are interviewed in-depth, interviews tend to be long and are often unstructured. An outline of discussion points, rather than a questionnaire, is used. This type of research can be conducted by telephone, in focus groups or one-on-one interviews. Our technical education and experience enables Aistrup Consulting to develop and conduct expert interviews with technical audiences. (links to Our Founders section of Who we are)

Quantitative research is another type of primary research used to statistically estimate the viewpoints of a population. This research usually employs larger samples and takes less of the respondents’ time. Telephone surveys, mail surveys, intercept surveys, central location studies, in-home use studies and on-line studies are all used in quantitative research.

Let Aistrup Consulting evaluate your needs and design marketing research that is both actionable and within your budget. Contact us to discuss how Market Research can make you more successful! (links to Contact Us page)

Examples of what we’ve done

  • Monitored, analyzed and interpreted global business intelligence on competitors, alternative technologies, customers, economic trends, market segments and industry trends. Results included:
    • Identified over 100 qualified leads for the sales channel of a mid-sized instrumentation manufacturer.
    • Located and pursued sensor growth opportunities that resulted in double-digit growth in the medical and healthcare market using Six Sigma Greenbelt processes.
    • Provided critical details of competitor distribution strategies for a packaged goods firm allowing them to maintain their historic leadership position in key channels.
    • Investigated a business acquisition made by the main competitor of an agricultural products company and concluded that the acquisition was a poor choice. It was divested at a loss within six months.
    • Discovered that the major client of a Fortune 50 private chemical company was ready to change suppliers during a competitive intelligence project in the Oceania region. The company was able to respond proactively to retain the account.
    • Distilled actionable business intelligence on GreenTech and Renewable Energy technology into a daily bulletin and intranet database for Senior Executives, Product Management and Sales Management to facilitate decision making.
    • Enabled an equipment manufacturer to increase global market share to 52% by capitalizing upon worldwide market trends and drivers-of-demand.
    • Conducted secondary market research in the domestic and international pharmaceutical markets to identify the most profitable market segments for new product introductions. Customer doubled sales in this sector.
    • Collected over 100 market and industry information resources and organized them into a SharePoint market research toolbox for an electronics firm.
    • Strengthened product pricing strategies for management of a thermal processing technology firm, validated with in-depth analysis of competitor financials, distribution, production capabilities, new products and SWOT analyses.
  • Designed and executed rigorous voice of the customer (VOC) research:
    • Established market-focused specifications for Thin Film Transistor product development program for a printed electronics technology developer.
    • Assessed a sensor company’s growth opportunity in medical and healthcare market segments and used customer input to develop marketing positioning. Increased sales 20% in 2 years in the sector.
    • Determined how physicians actually prescribed drugs and used medical devices in their practices. Results included revised dosing protocols for a pharmaceutical company and repositioning of an electronic medical device.
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