Good business decisions that improve service and profitability begin with research on your customer, competitor or market. If you don’t know who you are serving or how your offering is perceived, it is difficult to make decisions or a range of critical business issues, including pricing, product offering, placement in the market, brand positioning, service design, or market potential.
“Gas Natural Fenosa employed First Steps Consulting for a study on “Technology and business model solutions for the end customer”. First Steps Consulting executed the work on time and has been giving us first-rate support during the time of execution. Their study has made a major contribution for the the comprehension of this area inside our company.”
The time to research your customer and market is always now. Whether you are launching a new initiative or developing a new approach to and an established offering, the customer and market are constantly changing. Market research is an ongoing process that drives continuous improvement and keeps you ahead of competitors and in front of the needs our your best customers. Often market research is a prerequisite to effectively raise funding and support for a new offering, or fundamental part of ongoing product development.
If you don’t already have in-house market research capacity, outsourced market research can deliver quickly and efficiently on the need to understand or validate new initiatives. New initiatives, in particular, don’t always justify the effort to establishing or allocate in-house market research capacity.
We specialize in market research that is part of a broader decision and design process focused on innovation design and validation. Market research if one of several inputs that we leverage in this process, and therefore we approach market research deliverables as part of a broader innovation assessment rather than a stand alone deliverable. We believe this positions us to leverage market insights, but not be driven exclusively by market research data which can often be misinterpreted or misleading of not considered alongside other decision inputs.
We Can Help
We develop and analyze surveys, focus groups, interviews, and market studies that are informed by industry experts in the fields of Health and Fitness, Energy, Public Policy, and Startup Economy. We bring to our engagements the prior knowledge and industry expertise to design research in a way that ensures we are asking the right questions in the right way to yield valuable insights rather than just data points. This industry insight is critical in the design and interpretation of market research.
Properly designed market research will lead to better design decisions both at launch and during iterative improvement for innovative initiatives. The research will also inform and shape the intuition and imagination of your innovation team, and could possibly lead to fundamental shifts in perspective that yield breakthrough decision.
Market Research Capabilities
Online and Telephone Surveys (NPS, Lifetime Value, Price Sensitivity, Brand Recognition, Customer Satisfaction, A/B testing)
In Person and Online Focus Groups
In Person and Online Individual Interviews
GIS Market Analysis with ESRI
Field Observation in select markets