Market Perception Studies

A perception study is a survey, or series of surveys, that assesses the market's opinions of a target company's:

  • Service performance
  • Brand image
  • Competitive positioning
  • Degree to which it is meeting customers' needs

The survey is typically a combination of:

  • A standardized "quantitative" survey
  • "Qualitative" one-on-one interviews (by telephone or in person)

Additionally, it may be preceded by a series of focus groups and ideally conducted on either a regular or periodic basis.

Benefits

A standardized questionnaire provides:

  • Reduced costs
  • Faster time to prepare the survey for distribution
  • A comparison of the market's perceptions of a firm's clients to industry norms

A correlation analysis:

  • Provides the ability to identify the perceptions that most relate to competitive superiority and positive word of mouth
  • Is less biased and more predictive than asking "importance" of various items
  • Reduces questionnaire length, increasing participation rates

A perception study provides:

  • Reduced costs of sales by improving the likelihood of repeat business
  • An understanding of what aspects of the relationship/service are most important to the client's decision to hire a general contractor
  • An understanding of how well the firm is performing on the aspects of importance to the client
  • A foundation for developing process improvements designed to improve performance on selected aspects of its service
  • Baselines of performance against which follow-up surveys can track improvements and changes in service delivery
  • A competitive advantage for securing and maintaining customers


Market Perception Studies

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