Final Touch Inc believes that competitors and markets make up the inner layer of the environmental shell. A detailed knowledge of both is essential for the development of effective strategy. And for this purpose Final Touch Inc uses various methods of market research to find out information about specific target markets and their needs, competitors market trends and customer satisfaction with quality service delivery. Final Touch Inc holds an idea that a key aspect of strategy development is the identification and then meeting the customer unmet or never addressed demands.Final Touch Inc delivers market research study and market strategy recommendations by combining their global market intelligence and best leveraged from companies throughout the world. The market research process of Final Touch Inc comprises five steps in total. The first step is to define the problem in detail with a view of the bigger picture and its linkage with all other sides of the picture. The second step is the exploratory research on the possible solutions of the matter which is followed by a questionnaire design in the form of customer feedback. Fourth step includes formation of sample design to be implemented in order to resolve or improve prevailing situation.
The fifth and last step is data collection about the current market conditions and customer analysis. Market research also includes the appraisal of present situation of similar services in the market. Final Touch Inc. assesses the marketing strategy being used by competitors that includes pricing policy, distribution, advertisement strategy and promotional campaigns.
Final Touch Inc follows a definite marketing research methodology which revolves around conducting the customer analysis using five things segmentation (groups of people with similar needs), motivation that is one of the most valued features of service for the customer, unmet needs, customer history of using a product or service and financial performance of the customer. Competitive analysis is the next thing which is properly governed. Self analysis of Final Touch Inc accompanies service efficiency, positioning and advertising the pricing techniques and distribution through certificates or written confirmation. Finally, the findings, implications and recommendations are provided in a format that allows the information to be used for management decision making and to be acted upon directly. It should be emphasized that marketing research is conducted to assist management in decision making and is not a means or an end in itself.
