When it comes to conducting market research, businesses have two options: outsource or do it in-house. Both options have their own advantages and disadvantages, and the best choice for your business will depend on your specific needs and circumstances. Below are 7 aspects when comparing these 2 options. Outsourcing Market Research Pros: Costs: Outsourcing market…
After rebranding, in addition to continuing to release market research reports, The Outbox Company develops a series of multi-dimensional research solutions for the travel and hospitality industry. Our latest solution, Vietnam Travel Market Tracker, is the only specialized travel market tracking solution that provides insights directly from Vietnamese travelers on the domestic and outbound sectors.…
Definition Demography is the statistical study regarding the characteristics of a population. Demographic analysis examines and measures the dimensions such as age, gender, race, religion, education level, income level, and more. They are known as identifier variables, i.e. data values that determine the identity of an object. Demographics analysis can cover whole societies or groups.…
In business, it is very important to grasp and respond to significant changes in the market and consumers in a timely manner. A visible example is during and after the COVID-19 pandemic, under travel restrictions, online services and delivery boom. In addition, people become more aware and concerned about their health. Their purchasing habits, behaviors,…
The Outbox Company always tries to forecast based on data and insight, instead of just watching, feeling and judging. However, in some cases, observation also helps much for market research and evaluation. For instance, when you ask someone how they make a cup of coffee, they will list main steps. But if you watch them,…
Questionnaires play an important role in the data collection methodology, allowing responses to be recorded in a consistent manner to facilitate data analysis. As a market research company, The Outbox Company really cares about questionnaire design. We always try to send respondents the most concise, easy to understand and coherent questionnaire to get the expected…
Surveys are one of the most popular market research methods. On the basis of generating a large amount of data, it plays an important part in the development of marketing strategies for businesses. In the survey process, digging deep to find useful, valuable, and personal information is a very necessary step. And an in-depth interview…
Market research helps businesses and organizations strengthen their reputation, increase brand awareness, understand market segments and trends in the market, and improve product marketing effectiveness. Let’s take a look at some of the brands that developed based on market research. Starbucks Starbucks is the largest and most successful global coffee shop chain today. One of…
Desk research, as mentioned in the previous article, is a part of the tool kit of market researchers. What is desk research? What is it used for and employed? Definition Desk research involves gathering data from available resources. It is considered a low-cost research technique compared to field research. Desk research is a popular method,…
From the most primitive tools, people have improved their research methods to help them easier to understand the market and customers over time. As a result, they can develop their products/services and improve their business efficiency and competitiveness. Today, market researchers have a tool kit including desk research, telephone interviews, face-to-face interviews, self-completion questionnaires, focus…