Sunday, May 4, 2014

251- Focus Group Research - An Effective Marketing Strategy

The main aim of a market research strategy is to gather market information by making use of different marketing tools. The theory of the market research depends upon the qualitative and quantitative data analysis that helps the marketers to identify the issues related to their business strategy and seek for the practical solutions to meet their business goals.

Both qualitative and quantitative methodologies are the essence of gathering market information. 

Focus Group Research - An Effective Marketing Strategy

There are several ways of conducting market research. Focus group research is one of the most common forms of research methodologies that the companies make use of to conduct their study.

What is Focus group Research?

It is a qualitative research method used for gathering collective market data. It consists of an interviewing process of a small group of target consumers. The group usually comprises of 4-15 people, who are brought together under the same roof and interviewed under a trained moderator. The main aim of the study is to find the practical solutions for the growth of the business and examine the changes in the tastes, preferences and attitudes of the consumers.

The respondents in focus group surveys are screened carefully before the survey starts, as it helps the marketers to ensure that they have selected the right people as their target audience to proceed with their study. The session is managed by a moderator, who is mainly employed to carry on the interview process by asking questions related to a certain product or a brand. It is a wonderful analysis to obtain information on the opinions, behaviors, cultural values and interests of the target consumers. The session generally lasts for about 1-2 hours depending upon the structure of the questionnaire and superfluity of the ideas.

The moderator who is supposed to conduct the study must be experienced to manage the discussion and restrict it from getting out of the track. The moderator must be highly experienced, who can manage the big group of people and can offer a compatible environment to the respondents. The researchers examine a lot more than the spoken words and their analysis may involve the interpretation of the facial expressions and body language of the respondents. They also focus on group dynamics to make a refined study.

Many marketing research companies pay incentives to the respondents to encourage them for being a part of the focus group surveys. The main aim behind the theory is to ensure better attendance of the respondents and encourage them to participate actively in the interviewing process to help the researchers gather real information. 
Focus group has a lot of advantages over the other forms of market research strategies. Some of the advantages of the focus group are:

• It is an amazing way to measure the reaction of the target audience towards the products and services of a company.

• It helps the researchers to analyze the attitudes of the consumers toward a particular product or a service.

• The study can be conducted anywhere and provide an opportunity for the researchers to conduct their study among the masses of diverse cultures and locations and determine the consumer attitude towards the product or service.

• The study offers instant ideas to the researchers regarding a particular field that needs improvement.

• It provides a platform to the beginners in the market to establish themselves in the world of marketing. The survey offers them an idea about the needs, tastes and requirements of the target audience, so that they can work on it and come up with an improved product or service.

A focus group research strategy is one of the crucial strategies to get connected to the customers directly to derive feasible results.

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