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Even in our Economics class in high school, we are taught that the world revolves around a simple marketing principle: supply & demand. If there’s a need, there must be a supply. Competition comes in when the supply for the demand is provided. Is it worth the expense, will it last, are there better options, can I get more for my money’s worth, and many more. As market research is conducted, it is important that the voice of the customers reach the ears of the ones providing the products. When the voices of the customers are heard and some action is done, it will only be beneficial to the company. Through shopper insights, many of the following can be accomplished and benefited from. RESOLVED COMPLAINTS make a customer feel that they are valued. It gives them the idea that their voices are not ignored. OPPORTUNITIES TO IMPROVE a product mean that you are aiming to satisfy your customers and want to remain on top of your game. Listening to the feedbacks may guide the companies into a new trend, a need to renew or recall a product, an idea on what to produce next or a change in the way services are provided. Market research bridges a connection between the company and consumer and gives their relationship a personal touch. MAKE YOU AWARE OF THE STANDARDS BEING UPHELD by those who are under the chain of command. This gives you an idea of the service you are providing and how your company affects the customers. In keeping track of what goes on about your product ENCOURAGES LOYALTY. Satisfied customers usually go back to the same store, or seller and these are all information that you can gather from shopper insights. Allowing the respondents to comment and compare products could highlight what improvements, upgrades, or changes are needed to be done. Some criticism may not be pleasant or may be too blunt to hear but at least it can all be constructive. In other methods like mystery shopping, you can witness an entire process as it happens and see first hand what goes on about a service or a product and what consumers might need or not in order to determine how to make it better. In the process of gathering data that will be valuable, it is also important to pick the respondents who will satisfy the aims assigned to them. It may be that they are knowledgeable about similar products or services in order for them to provide sound feedbacks.
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