Coda Research Consultancy

Coda Research Consultancy specialise in bringing together insights into behaviour and social and market trends around new media, technologies and services.

We help organisations understand how to move forwards in a fast-paced, ever-changing world. By linking insights from behavioural, social and market trends in the media, technology and service industries, we can offer informed strategic leadership.

Rather than just spouting insights, we stress the importance of collaborating with our clients & getting a feel for what they're interested in as this can help us provide them with grounded recommendations.

We use a variety of research techniques and collaborate with different companies and universities.

We're particularly interested in mobile technologies and how they are transforming how we live in the world. We also look into media that rely on visual images such as film, art, and design. In our research, we employ ethnographic tools to address what these new technologies mean for communities around the world.

Here are some of the clients that we have been very proud to have represented or worked with:

Free75

Free75 promote a business credit card to limited companies and limited liability partnerships in the UK

Absolute Hardware

Absolute Hardware supply tools, hardware and ironmongery to the trade.

NetOnTarget

NetOnTarget provides a list of tools and tactics that business owners can use to improve the traffic and conversion rate of their websites.

What is market research and what are the benefits?

Market research involves gathering information from target audiences so you can shape your product and business strategy. With market research, you can identify what consumers want, need or expect from your company. This helps you stay relevant, build trust and trustworthiness with customers, and create demand for your products. Creating strategies that are aligned with your target audience’s needs and wants is known as the marketing strategy map. And it’s important to have one before you start any project, because it will give you a clear overview of the work required to achieve your goals. For example, if you’re creating a new product or service, it will enable you to think through all the different ways it could be marketed to customers. If you’re updating an existing product or service or adding a new one to your portfolio, it will help you identify where there may be opportunities for new markets or channels of distribution.

Research basics

Market research is a process of gathering information from target audiences. In other words, it’s the act of trying to understand what your potential customers want or need from your company. It helps companies shape their product and business strategy, which ultimately benefits them in many ways. Market research can be broken down into three separate categories: primary research, secondary research, and tertiary research. Primary research is the first step in understanding the market you are targeting. You can do this by talking to your target audience, conducting surveys or focus groups, or observing them within their natural environment. Secondary research involves using other sources of data to answer questions that aren't addressed by primary methods. Tertiary research is simply a more in-depth analysis of primary data for a specific purpose (e.g., market segmentation). Market Research - Market Research Basics

Research strengths and weaknesses

Market research has a great deal of benefits, but it can also be difficult to do. For one thing, if you don’t know what your target audience wants and needs, you won’t know what to sell them. Additionally, market research has its limitations. Sometimes it’s difficult to collect information from people who may not have the time or wherewithal to give you the data you need. But another challenge is that market research can be expensive. This is why many companies choose to outsource this task to professionals in the field.

Create a market research plan

The benefits of market research are endless. Market research is important because it helps you identify key opportunities and explore different ways to meet demand. It also helps you create a marketing strategy that is aligned with your goals. Additionally, it gives you a clear overview of the work required to achieve your goals. Market research will help you avoid costly mistakes and disappointments when launching new products or services or updating existing ones. It’s important for companies to have a market research plan before launching any new product or service, whether it’s in-house or outsourced. This is because it allows for efficient planning, an effective strategy and clear expectations about what will be delivered to ensure success.

What is the target audience for your product/service?

In addition to the marketing strategy map, you should also consider what your target audience is. What are their demographics? What age range? What interests or needs are they looking for? What social and cultural groups do they belong to? Once you have this information, you can craft a marketing campaign that will appeal to them. This will maximize your opportunities for success, as it will help you address specific interest areas and make sure that your content is delivered in the most effective way possible.

Define your research goals

Before you do market research, it’s important to first define the goals. You need to answer the following questions before you start: - What are my research goals? - What is the purpose of my study? - Who are the target audiences? - What is the sample size that I am going to use for this study? - How will I measure success?

Select the right research tools for your needs

There are a variety of research tools you can use to identify your target audience. These range from digital methods like online surveys, which allow you to quickly collect data, to in-person meetings and focus groups, which provide more detailed information. The right research tool for your needs depends on what stage your business is at and what you’re trying to achieve. For example, if you’re just starting out and want to know what consumers think about your company or product ideas, online surveys could be the perfect tool for getting customer feedback. After collecting enough data from customer interviews and surveys, it’s easy to develop a marketing strategy map that outlines the scope of work that needs to be done on each project.

Summing up

So, what are the benefits of market research? Market research helps you create successful marketing strategies. It helps you identify what consumers want and where there are opportunities for new markets or channels of distribution. It helps you plan your marketing strategy and make sure it aligns with your goals.