Market Perception Studies

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WHAT IS A PERCEPTION STUDY?

• 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.
• Typically a combination of:
  • A standardized "quantitative" survey.
  • "Qualitative" one-on-one interviews
    (by telephone or in person).
• May be preceded with a series of focus groups
• Ideally conducted on a regular/periodic basis(e.g., annually).

BENEFITS

• Standardized questionnaire provides:
  • Reduced costs and faster time to prepare the survey for distribution.
  • Faster analysis turnaround.
  • The ability to compare the market's perceptions of your clients to industry norms.
• Correlational analysis provides:
  • 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 the questionnaire length, increasing participation rates.
• Value of perception studies:
  • Reduce costs of sales by improving the likelihood of repeat business.
  • Understand what aspects of the relationship/service are most important to their client’s decision to hire a general contractor.
  • Understand how well the firm is performing on the aspects of importance to the client.
  • Provide a foundation for developing process improvements designed to improve performance on selected aspects of their service.
  • Establish baselines of performance against which follow-up surveys can track improvements and changes in service delivery.
  • Build a competitive advantage for securing and maintaining customers.

  
  

  Model | Click on Image to Enlarge