How Many Types of Market Research Firms Are There?

Did you know that more than 68 percent of United States businesses managed to increase their sales thanks to the help of market research firms in 2019? Finding the best market research firms for your business takes more than skimming the list of top market research firms in the country.

You need to understand the specialty market research firms that can help your business with its specific needs. Going with the largest market research firms isn’t a guaranteed way of boosting your revenues and sales.

The good news is that you’re in the right place to learn more about finding market research firms and the different types of market research firms out there in 2022. Keep reading this article to learn more today!

Research Report Purveyors

Research report purveyors specialize in looking at data and demographics as well as the trends in the market for your business. They’re great if you want quick access to information to make informed decisions.

There is a major drawback to consider with this option. Research report purveyors are expensive to work with and they can’t customize data or information for your business.

Field Service Firms

Another option when you’re looking at working with market research firms is field service firms. If you’re in need of unique marketing information that you can use to bolster sales then this is the best option.

The primary disadvantage of working with field service firms is that you won’t get enough information to answer all of your questions. Still, it is a great fit for businesses with a research plan that want to gain more info on their market. Consider checking out Peter Dodge Hanover Research to learn more.

Mystery Shopper Firms

Mystery shopper firms are another viable option when you’re looking at the best market research firms. These firms act like natural buyers as a way to measure the customer experience. They’re great for gaining insight into what your customers experience when working with your business or brand.

They’re cost-effective and a great way to gain a new perspective on your company and the way that it operates. The main drawback is that you have a smaller scope to work with, and negative experiences can get blown out of proportion.

Shopper Insight Firms

Shopper insight firms are great if you’re running a brick-and-mortar store and want some help boosting your sales. They know the behaviors of consumers when they’re looking to make a purchase. They understand the ways that these consumers make decisions about purchases.

You’ll get top-notch advice on how to style your store and use your shelf space to boost sales. You won’t get much help when it comes to product innovation if you choose shopper insight firms, which is the only real negative.

Hire Market Research Firms for Your Business

There are many routes that you can take when you decide that the time is right to hire market research firms for help. Research report purveyors are great when you want a look at trends in the market as well as demographics. Mystery shopper firms will tell you a lot about your customer experience while shopper insight firms will help you make the most of your shelf space.

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