In these days and times, change comes faster than ever. To remain competitive and serve their clients better, companies should learn about the rapidly changing market to be able to adapt to these changes.
Whether it is research for new product testing and development, segmentation, customer experience, marketing communications, opinion polls and panels, and brand mapping and positioning, outsourced research may be the only way to go for some companies for the following reasons:
- Lack of in-house expertise – Research involves many processes. If the company does not have the expertise needed to come up with the information that correctly depicts what is going on the market, they will just be wasting the time, money and effort for such endeavor. In addition, wrong information will lead to incorrect plan of action for the company.
- Shortage of manpower – even when the company can do quantitative and qualitative research, the shortage of manpower might hamper their efforts. It is going to be a tiresome process if the company would need to hire more people to help gather data.
- Savings – Oftentimes, it is more advantageous for a company to outsource than to tackle research in-house. Research needs people with skills who are continuously working to increase their know-how and skills when it comes to researching the market. The company might be able to more when outsourcing compared to creating a new department within the company.