Historically high and stubbornly persistent inflation in recent years has wreaked havoc on more than just consumers’ wallets. It has also had the effect of throwing many companies’ pricing strategies out of whack and into question.
Rather than play a hunch, the smart money is on a proven methodology for setting pricing strategy based on hard facts, figures and formulas.
There are situations in which either quantitative or qualitative research is the more appropriate research vehicle. But where quantitative research is concerned, we usually recommend an approach that “book-ends” the quantitative research instrument with two qualitative research exercises.
Let’s look at some of the common metrics used to understand customer perceptions as well as to measure whether the actions a brand takes is having a positive impact on those perceptions.
It is important to note that, while all of these measurement approaches are important on their own, none by itself represents the complete and exhaustive measurement of customer opinion. Rather, it is the application of many (or all) of the appropriate tools that will provide the most accurate and holistic measurement of customer perception — including one critical metric that is unique to The Martec Group and the brands we work with.
The customer experience research objective was to take Martec’s 5-D insights approach to study client experiences, understand the true voice of customer, and engineer the customer journey to maximize engagement and customer satisfaction.
A comprehensive look at four methodologies we use to not only understand the existing customer experience, but to optimize that experience for how an audience wishes to experience an interaction with a brand.
One area of the marketing research discipline that cannot be emphasized enough is a certain power perhaps upstream of provocation, and that’s the power of emotions. We have studied the role emotions play in purchases of all kinds of purchases and strategic decisions — B2B and B2C alike — and the research shows that emotions are powerful drivers of action.
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