Choosing a Market Research Company - Part 3
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Check whether they have enough industry experts and data analysts to be able to do this. Also, of course, check the experience and reputation of their sample providers and quantitative fieldworkers and ask to see proof that the data is up to date and information sources credible and qualified. Another thing worth looking for is whether they are members of the Market Research Society, whose members have a code of conduct that meets with the current data protection legislation.
Other things to look for in market research companies is whether the average size of their research sample is adequate for your needs, because too large a sample is a great drain on your market research budget and too small a sample might give you an inaccurate impression. The incidence rate (i.e. the number of surveys that are sent out per number of responses returned) is critical here. Consider the age and geographical location of the market you want to sample and whether this is something the company has a lot of experience in, because there is no use having the wrong demographic sampled. Also check the criteria for screening people who are used in focus groups, the moderators degree of experience and the form or the discussion.
For example, it might be useful to hold the focus group in a room with cameras so the discussion can be evaluated by you at a later date. Once you have established the sort of market research you are looking for and found the market research company specialising in this, it is these sorts of questions that will reveal whether they have the capacity to tailor the research to your particular needs or just perform a formulaic service that will produce unsatisfactory results.
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