Hire best-in-class Market Research experts

Our invite-only community connects the world’s top
Market Research specialists to projects that need execution, now.

Market research is the study of market conditions to identify patterns. It is a process that allows firms to extract information from past events or data, analyze this information for insights, and develop strategies for future development.

Marketers have an important role in carrying out market research. A company’s success may depend on the accuracy of their understanding of consumers’ needs, wants and behaviors. Market research is very broad with many different disciplines involved including survey design creation, sampling methods and data analysis techniques being just some examples. These disciplines are all important in carrying out a successful market research study and they lay the groundwork for understanding and interpreting the results of a study.

Market research is used to identify current and future trends, opportunities, and threats in specific markets or industries. It can also be used to understand customers’ needs, wants, lifestyles or behaviors. In business management it is often referred to as market intelligence.

Market research may utilize a variety of techniques from traditional polling, focus groups to new techniques such as neuro-marketing from neuroscience. Market research is conducted by both private companies and public agencies.

Steps for carrying out Market Research

  1. Identification and Defining the Problem/Opportunity
  2. Statement of Research Objectives
  3. Design the Research
  4. Planning/Designing the Sample Collection method
  5. Data Collection
  6. Data Processing and Analysis
  7. Formulating Conclusion, Preparing and Presenting the Report.

Types of market research

Organizations use research to determine the best way to develop their products, services, and operations. Research can be carried out by outside agencies with various levels of involvement. The purpose of research can be for market segmentation, market size estimation, revenue forecasting, competitor analysis or any other task that helps with the development of strategies or product development. Research projects can usually be divided into two main types: financial and non-financial.

Financial Market Research is used to examine the financial status of a company or project. Typically this begins by forecasting future cash inflows and outflows. To perform a complete analysis, contact with stakeholders is necessary. The importance of financial research is highlighted in analyst reports, corporate documents and financial disclosures. Revenue forecasting and cost estimation are among the most common applications of financial market research. Financial Market Research aims to value equity or project cash flows by incorporating information such as:

Non-financial market research provides information regarding the marketing environment and competitors which can be useful for making strategic decisions. Non-financial marketing research concentrates on the developmental process of a product or service rather than their financing and financing techniques and reports focus on marketing activities. It is concerned with the performance of particular products within the market in order to enhance business performance in terms of customer satisfaction and profitability. Non-financial market research is concerned with analyzing the marketing objectives and business environment in order to make informed decisions about marketing and operations.

Market Research vs Marketing Research

The term market research is often used interchangeably with marketing research, but marketing research, as a distinct discipline, attempts to look at consumers’ perceptions of products and services. This is done through opinion polls, ethnographic studies and content analysis. Marketing also relies on consumer opinion surveys which use different methods to investigate consumer behaviour and attitudes towards brands or products.

Marketing research focuses on the consumer’s perception of products, brands or services. This includes research carried out by companies to determine the best way to reach their target consumers, product development and advertising campaigns. Consumers are often surveyed in order for companies to learn about their buying habits and opinions on different types of media. For example, a company might conduct a survey to find out if consumers are more likely to purchase a product that is placed in a wholesome environment with children playing nearby or in an adult only environment without children present.

How is a Market Research Conducted?

Market research requires a mix of statistical and analytical skills. Marketers must learn how to process and analyze data, forecast trends in consumer behavior, interpret results to determine what actions should be taken by management, and report results. Researchers need to collect data through sampling procedures, survey designs, experiments or observational techniques. Data analysis is typically performed using quantitative (numerical) or qualitative approaches (non-numerical).

To conduct the research, there are two basic types: qualitative and quantitative. Qualitative can be done in person (through focus groups), and by phone (with open-ended questions). Quantitative surveys can be done via mail or online (by asking multiple choice questions).

In order to have a successful market research study, there are three key factors to take into account: the problem being researched, the results of other studies on this topic, and finally what you want your company to do with these findings.

The goal of the market research study is to find data (and trend data) that will tell you how well your product/service performs in the marketplace.

To conduct the research, there are two types of surveys that can be used: quantitative and qualitative.

A quantitative survey is one that has multiple choice questions; it is then biased towards the number of correct answers. This method provides a limited degree of insight into consumers’ feelings, attitudes, and opinions. Quantitative surveys are considered to be objective since there are no subjective elements involved in them. They do not require the respondent to have any bias towards being interviewed or being asked certain questions. In order to use a quantitative survey, the researcher is required to list the questions by importance.

Qualitative surveys are more costly to conduct since they require more time and effort. This method provides a greater degree of insight, and requires the respondent to have a bias towards being interviewed or being asked certain questions. In order to use a qualitative survey, researchers need to listen to what the respondents are saying and then try and draw conclusions from it. A qualitative market research study can provide you with information that can’t be obtained from a quantitative study.

Qualitative research is based on face-to-face interviews with people who represent your target market. These interviews are often referred to as focus groups since they focus on a particular topic within the market. Information is gathered with these interviews by asking open-ended questions that aim to get consumers talking about certain aspects of the topic. The focus of the discussion is usually more on feelings and attitudes rather than factual data.

After all of the data has been collected, there are two more steps before you can make any conclusions. First, you must identify your audience; what type of people were interviewed? Once you know this, you can find out if there was any misrepresentation of the group (i.e., one person dominates or all opinions are uniform).. Once you have identified the group, you can determine whether there are any main ideas that are coming out of the interviews.

There are many different reasons that help to determine what type of market research study is appropriate for your company. These include:

Ultimately, the goal of the market research must be to obtain useful information. Thus, is important to identify the audience and be sure they are representative of who will use the product/service to be offered.

Hire the best Market Research specialists in 2,900+ industries

Fintalent is the invite-only community for top-tier M&A consultants and Strategy talent. Hire global Market Research consultants with extensive experience in over 2,900 industries. Our platform allows you to build your team of independent Market Research specialists in 48 hours. Welcome to the future of Mergers & Acquisitions!

Why hire top Market Research experts?

Trusted Network

Every Fintalent is exclusively invited and vetted.

Ready in 48h​​​

Hire efficiently. Your M&A team is ready in 2 days or less.​​​​

Specialized Skills​

Fintalents are best-in-class - and specialized in 2,900+ industries.​

Code of Ethics​​

We guarantee highest integrity and ethical principles.​​​

Selected Clients and Partners

Frequently asked questions

Most frequent questions and answers

What clients usually engage your Market Research Consultants?

We work with clients from all over the world. Our clients range from enterprise and corporate clients to companies that are backed by Private Equity or Venture Capital funds. Furthermore, we work directly with Family Offices, Private Equity firms, and Asset Managers. Most of our enterprise clients have dedicated Corporate Development, M&A, and Strategy divisions which are utilizing our pool of Market Research talent to add on-demand and flexible resources, expertise, or staff to their in-house team.

How is Fintalent different?

Fintalent is not a staffing agency. We are a community of best-in-class Market Research professionals, highly specialized within their domains. We have streamlined the process of engaging the best Market Research talent and are able to provide clients with Market Research professionals within 48 hours of first engaging them. We believe that our platform provides more value for Corporates, Ventures, Private Equity and Venture Capital firms, and Family Offices.

Our Hiring Process – What do ‘Community-Approach’ and ‘Invite-to-Apply’ mean?

‘Invite-to-Apply’ is the process by which we shortlist candidates for the majority of projects on our platform. Often, due to the confidential nature of our clients’ projects, we do not release projects to our whole platform but using the matching technology and expertise of our internal team we select candidates who are the best fit for our clients’ needs. This approach also ensures engagement with our community of professionals on the Fintalent platform, and is a benefit both to our clients and independent professionals, as our freelancers have direct access to the roles best suited to their skills and are more likely to take an interest in a project if they have been sought out directly. In addition, if a member of our community is unavailable for a project but knows someone whose skill set perfectly fits the brief, they are able to invite them to apply for the role, utilizing the personal networks of each talent on our platform.

Which skills and expertise do your Fintalents have?

The Fintalents are hand-picked and vetted Market Research professionals, speak over 55 languages, and have professional experience in all geographical markets. Our Market Research consultants’ experience ranges from 3+ years as analysts at top investment banks and Strategy consultancies, to later career C-level executives. The average working experience is 6.9 years and 80% of all Fintalents range from 3-12 years into their careers.

Our Market Research consultants have experience in leading firms as well as interfacing with clients and wider corporate structures and management. What makes our Market Research talent pool stand out is the fact that they have technical backgrounds in over 2,900 industries.

How does the screening and onboarding of your Market Research talent work?

Fintalent.io is an invite-only platform and we believe in the power of referrals and a closed-loop community. Members of our community are able to invite a small number of professionals onto the platform. In addition, our team actively scouts for the best talent who have experience in investment banking or have worked at a global top management consultancy. All of our community-referred talent and scouted talent are subject to a rigorous screening process. As such, over the last 18 months totaling more than 750 hours of onboarding calls, of which only 40% have received an invite-link after the call.

What happens if I am not satisfied with my Market Research consultant’s work?

During your initial engagement with a member of our Fintalent talent pool with no risk. If you are not satisfied with the quality of your hire for any reason then we are able to find a replacement at short notice. There is no minimum commitment per project, but generally projects last at least 5 days and can last 12+ months.

Interested in our invite-only community of tier-1 Market Research experts?

Cookie settings
Cookies are used on this website. These are needed for the operation of the website or help us to improve the website.
Allow all cookies
Save selection
Individual settings
Individual settings
This is an overview of all cookies used on the website. You have the option to make individual cookie settings. Give your consent to individual cookies or entire groups. Essential cookies cannot be disabled.
Save
Cancel
Essential (2)
Essential cookies are needed for the basic functionality of the website.
Show cookies