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When Is The Right Time For An Organization To Approach A Market Research Vendor?

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In recent times, a common topic for discussion often found among market researchers is whether more and more companies are going to opt for Do-It-Yourself research instead of approaching market research vendors specializing in research. With increasing competition and rising costs, it seems so.

With more and more companies joining the bandwagon of DIY market research, many externally operating market research vendors have already started facing the heat. Some are even totally displeased about the persisting trend as they feel it is highly affecting their livelihood along with spreading of misguided data and conclusions.

With the cost of marketing budgets reaching an all time low and with easy and greater accessibility to varied online survey tools that lack authenticity, the Do It Yourself method of research has become an acceptable fact. More and more companies have started relying on the Do It Yourself research methods. But is it really advisable is the million dollar question.

Though these quick fix DIY research methods may seem to give results in the short run, but approaching a specialized market research vendor is highly beneficial for an organization in the long run due to the multitude of benefits offered by them as discussed below:

Skill and Expertise

First and foremost is the skill and ability of the market research vendors which the DIY research team lacks. For becoming a thorough professional in market research, a DIY research team needs to engage in staffs who are experts with a rich work experience of different methodologies of research work. This might prove a little costly affair. The researchers of the DIY research team need to work with greater insights and have to be highly qualified to interpret the results in an explicit and meaningful way. If they are not experts in the field then the organization might have to go in search for a Market research vendor.

Adoption of Creative and Authentic method of Research

Established research agencies have their own standardized and meaningful research processes that have shown results over time. These research methodologies are to know offer correct, consistent and perfect report including data assimilation.

The DIY team of researchers of a company can take the help of these expert market research vendors to get customized and creative solutions. By doings so they can not only add value to their service but even save valuable time and resources entire process of research.

Great time saver of Workload

Every single market research project whether big or small involves a lot of workload. The Do It Yourself market research team that are already loaded with work can find great relief if they outsource the entire project or a part of it needs urgent tackling such designing of a questionnaire to a good market research vendor. Some leading market research vendors even undertake data analysis or report writing at the end stages.

The DIY research methodologies though might seem cheap at the face of it might lead to generation of bad quality data resulting in conclusions that are likely to mislead as a result of inappropriate and inadequate data research. Hence it is always better to approach a market research vendor for all your marketing needs.

 

Manali Hishikar

The author Manali Hishikar

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