If you’re searching for market research companies, you’re likely seeking expert help in uncovering insights to help you make some key business decisions. That’s exactly why we’re here – and below you’ll find a clear overview of what we do, and how it can help you. Or, for a great overview on various kinds of market research, scroll to the bottom for a helpful infographic.
About Tenato’s Market Research Services
Tenato Strategy is a Canadian marketing research and strategy firm with over 28 years in business, and experience across a wide range of business-to-business (B2B) and business-to-consumer (B2C) research projects. We offer competitor research, feasibility research / feasibility study projects, focus groups , in depth interview research, customer / satisfaction surveys and much more.
We have dealt with many business owners, chief marketing officers (CMO’s) and business development personnel, from small one-person companies to Fortune 100 international firms, so we can easily scope out and handle projects of almost any size.
This page will help you decide on the kind of research you likely need, or if you prefer, you can read about the specific capabilities of our offices in Calgary, Vancouver and Toronto, or Canada-wide.
What Kind of Market Research Do You Need?
These are some of the most common questions businesses need answered:
Q. What is my company’s best selling angle, or competitive advantage?
To determine this, you will usually need both:
- Depth interviews with customers and/or prospects, to determine why they buy.
- Competitor intelligence research, to determine what is unique about your offering vs. other choices those customers had. We analyze over 40 different parameters, using both online and offline techniques.
Q. Is there demand for my new product, service or idea? Or, will it likely succeed?
To determine this, you will need a feasibility study which can involve several kinds of research such as:
- Depth Interviews with Prospects or Customers
- Focus Groups
- Competitor Research
- Secondary Research re: market trends and demand.
A feasibility study also involves creating a strong pitch/description for your new concept on which to base the research. Tenato handles all these aspects.
Q. Are my customers happy, and how could I make them happier?
This is a trick question because it’s in two parts. The first part, are your customers happy, can be measured with a survey and done repeatedly, to look for changes over time. We call the measurement “quantitative research” – because you usually ask questions such “on a scale of x – y, how happy are you with the service you received?” By asking them for a number rating, you can get measurable, i.e quantitative data.
The second part, how could they be made happier, usually involves some deeper digging, or a type of conversation, which is a “qualitative research” question. With an open discussion, you can ask people what they wish you did better, and what other things you could be doing but might have missed.
Now, you can put both quantitative and qualitative questions into one survey, but because quantitative questions requires more statistical accuracy, and hence a large volume of responses, this would be really expensive. So usually qualitative questions are done with fewer respondents.
The best answer would be to do both types; a broad quantitative survey, and some qualitative interviews with a smaller number of customers.
Q. How should we diversify or expand, and to where?
Diversification or expansion research involves a few different elements:
- Competitor research, to see if there are gaps in your service that competitors are now filling)
- Customer research, to see if there are things your customers are wishing you did now and
- Secondary research to uncover market trends, size of market, demand, geographic variations, and more.
If you’ve got an entirely new idea or product, you may also want to broaden this to a feasibility study.
At Tenato, we offer a wide range of research services. Check out our infographic for a good overview of what kinds of market research you may require, depending on the questions you need answered.
What Makes Tenato’s Research Approach Different?
With offices in Vancouver, Calgary and Toronto, Tenato has completed a wide range of marketing research projects across Canada and the US. Our approach is somewhat different than most market research firms for several reasons:
Not piles of meaningless data. Just the right data.
Because strategy is a core part of what we do, we have a very clear picture of just how much market research– and what kinds– are definitely required to build a solid strategy. So, instead of giving you a 200 page report without telling you what it means, we zero in on getting you the right answers, and then provide the interpretation to ensure you understand how to act on it.
We dig deep into the customer’s mind.
If you really want to know what your clients think of you and why (or what potential clients might think of a new concept) it takes a different approach from what a conventional scripted researcher might use. Our trained, seasoned researchers use techniques to put interviewers fully at ease, helping them to engage and fully share their real thoughts and situations. Over years of doing this, our clients always say, “I can’t believe they told you all that! We had no idea!” This is not deception – it’s plain sincerity – as all the research will be put to good use to improve their service experiences with our clients.
We take advantage of the latest tools.
While many traditional research firms rely on surveys and focus groups, we make use of newer tools – such as social media monitoring, keyword trends, and online metrics. These tools don’t just ask people what they will do (which is not always the truth), they reveal what they are already doing.
Market Research Case Studies
Customer Perception Study: Skyline Luge
A family attraction was wondering why its sales were soft in a particular market in comparison to its other similar facilities around the world.
Feasibility Study: OGGI Technologies
A new, automated retail delivery service was wondering how much demand would exist for its new app, and what kind of pricing structure might work.
Customer Perception Study – Diversification Study / Secondary Research: Mount Royal University
A university needed to know which kinds of businesses it should bring to campus in order to boost retail revenues.
Customer Needs Assessment: Varsity Community Association
A community association needed to know how to adjust its existing offerings of services and programs to meet shifting demand.
Customer Satisfaction and Strengths, Weaknesses, Opportunities & Threats (SWOT): Engineering Firm
An engineering/construction firm needed insight on how to improve its success rates in recently added markets.
Feasibility Study: Fire Safety Product
An entrepreneur with a fire safety product needed to know whether the product was sellable at his proposed pricing, and through what channels.
Treeco: A Canadian Hardwood Wholesaler
The client was seeking an overhaul to its marketing approach to allow for expansion.
Pacific Western Transportation: Market Research Case
Pacific Western Transportation (PWT) was seeking clear market research data to support its bid to add a highway route.
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