Focus Group - How Can One Contribute to your Market Research Success?
In such a cutthroat environment, it has become integral for any business with the vision of growing and gaining success to know what their customers want and their concerns are.
Smart business owners know this and that’s why they make sure to always include the use of market-research tools when they want to: (1) gather information for new product development and marketing, (2) measure the impact of promotional campaigns, (3) measure customers’ reactions to their products, services, and brand concepts, (4) get detailed insights into competitors and consumers’ buying patterns, and so on.
And forming a focus group to aid with these needs emerged as one of the top choices for most businesses.
The Crucial Role Focus Groups Play in the World of Business Today
Integral to market research, a focus group is a group of diverse and deliberately selected individuals participating in a discussion that is meant to elicit consumer perceptions and opinions about a new product or topic in a safe environment. Instead of gathering individual thoughts and opinions like in surveys or one-on-one interviews, it allows participants to freely talk and interact with one another during discussions to broaden their own beliefs and possibly come up with new ideas and perspectives. You might not realize it yet but customer feedback is crucial to companies looking to grow their business. Whether you’re a brick-and-mortar or online store operating in Singapore, China, Japan, Vietnam, or somewhere else, you need a focus group to help you make informed decisions on what products or services to develop and launch, what marketing activities to invest money and time, and so on.
Focus Groups are a big hit with businesses because it:
Is a cost-effective market research method
Is easy to conduct
Helps gain an in-depth understanding of the market
How Does A Focus Group Discussion In Singapore Works
Participants are carefully selected and recruited
Focus group discussion is conducted for 1 hour
Card sorting activity is performed
FGD findings are reported to the client