Market Research

Our long-standing mission has been to decipher the patterns of data using cutting edge technology and analytical methods.

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Market research creates value for organizations by providing direct insight into the needs, attitudes, and preferences of the market. Fulcrum Analytics was founded as a market research company in 1993, and applies decades of experience to all our projects. We bring the right balance of methodological rigor and business savvy to help our clients collect and understand the insights needed to make the most of their opportunities.


 

Popular Project Types

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Competitive Positioning

Gathering insights directly from a client’s own customers is usually not that hard; but gathering those insights from competitors’ clients is often tricky. We deploy market research with the customers of each member of a competitive set to compare the relative strengths, opportunities, and costs of entry for strategic decision making.

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Concept Testing

Through online surveys and qualitative interviews, we help clients gather feedback from target markets on potential new products. Our statisticians use the resulting data to create a driver analysis, helping clients understand not only what the target market prefers, but the underlying reasons why.

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Conjoint/Discrete Choice

For organizations that offer a range of products and services at varying price points, discrete choice experiments can measure the market potential of product/service features, identify the best combinations of features in terms of incremental lift, and calculate the price respondents are willing to pay for each feature.

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Customer Journey

Detailed customer journey research through a combination of quantitative and qualitative methods can give organizations the information needed to pinpoint areas of weakness and opportunity in the marketing/sales of its products or services. Customer Journey research can be even more effective when paired with Segmentation and statistically-generated driver analysis.

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Share of Wallet

Through quantitative market research surveys coupled with forecasting analytics, we help clients estimate the share of spending captured by the competitors in their industry.

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Pricing Optimization

We conduct market research surveys, paired with forecasting analytics, to estimate optimal product/service pricing and potential demand.

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Customer Satisfaction

Using mixed-methods to reach customers for the most accurate customer satisfaction scores is something not all companies can do on their own. We utilize a mix of phone, online, and direct mail surveys to reach customers in the way most comfortable and convenient to them, maximizing response rate and minimizing sampling bias. We then analyze the resulting data through the lens of data science to determine not only what customers are saying, but what they really mean, through clustering and regression analyses.

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Segmentation

A segmentation organizes customers and potential customers into smaller groups for marketing treatments, product development, and analysis. We conduct a market research survey with the target market and utilize statistical methods to identify the cohesive yet unique segments of consumers. Differentiated products, services, price points, and messages, when delivered at the segment-level, helps an organization to maximize its effectiveness and minimize spending by promoting the right products or messages to the right types of customers.

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Website Evaluation

Website changes are a common occurrence but testing the impact of the changes can be tricky. Through a mix of quantitative and qualitative methods, we help organizations understand the areas of their website that are in need of change, evaluate the potential changes before they are implemented, and measure the customer experience improvements upon implementation.

Types of Clients We Serve

Our client list includes advertising agencies, automotive, business services providers, financial services, healthcare, manufacturing, medical devices, pharmaceuticals, public utilities, personal electronics, publishing, and retail.

Recent Thoughts on Market Research

Segmentation and Discrete Choice Models from Market Research Data
Everyone has heard of “market research” as a way to learn more about the customers for a product or service,

Read more.

An Analytical Approach to Market Research
While the marketing industry has been steadily shifting toward a data-driven new reality, the marriage of observed data and custom-collected

Read more.

How we have helped clients

Effects of Price Change

A service provider wanted to understand whether it should lower its price for a pre-packaged service plan, as well as anticipate market share shifts and net profit effects should competitors follow suit in the price drop. Fulcrum conducted a Discrete Choice Analysis to determine the ideal set of service plan features and pricing, as well as to inform the client on how customer preference among providers would shift should competitors also lower their price and offer a similar set of features. The client went on to launch the recommended set of features and pricing.

Understanding Customer Response

A client wanted to understand the reasons behind customer response to a direct mail solicitation, so that they could improve their creative strategy. Fulcrum conducted a study among recipients of the direct mail piece, and determined the drivers for the response behavior.  The survey data was paired with customer solicitation and transactional data via a data append to enhance the information behind the driver analysis (how many solicitations were sent before the customer’s purchase, the dollar value of the transaction, etc.)  The client went on to revise its creative strategy and to introduce enhancements to make future offers more appealing and effective.

To learn more about ways we have aided our clients with marketing research please check out our case studies