Market Understanding

Norstat specialises in high-quality data collection for market understanding. Our quantitative and qualitative research methods ensure reliable data gathering about any desired topic or target group, allowing you to track consumer behaviours and trends in your target market.

Why is market understanding important?

“To succeed in business, you need to be original, but you also need to understand what your customers want.”

Richard Branson, Virgin Group

Market understanding provides businesses with data that can guide strategic business decisions such as:

• Identify opportunities: Discover unmet consumer needs
• Enhance competitiveness: Find out competitors’ strengths and weaknesses
• Improve customer satisfaction: Know what customers want in product and service offerings
• Reduce risk: Enter new markets with a higher chance of success
• Optimise marketing: Better, more targeted marketing based on insights from actual consumer behaviour
• Drive innovation: Gaps in the market can lead to the development of new products and services

Understanding your market with data

Norstat’s data collection services support many components of market understanding. Read more about some of the tailored data collection services we offer:

• Advertising effectiveness
• Market segmentation
• Brand tracking
• Brand performance
• Shopping behaviour
• Public perceptions & polling

Using our online panel to understand your market

The Norstat panel has over 4 million respondents across 19 European countries, making it easy to survey people in your target market. Using profiling and screener questions, we can reach people based on characteristics such as:

• Demographics: Age, gender, income, education, location
• Media consumption: Usage and time spent on various media
• Brand and product usage: Users vs. non-users
• Purchase intent: Likelihood to buy
• Behavioural segmentation: Lifestyle, interests, purchasing, attitudes, values

High-quality data for market understanding

The accuracy, reliability, and relevance of data define its quality in market research. For us, a leading data collector for high-quality market research and insight in Europe, everything relies on the representativeness, truthfulness, and capacity of our panels. We apply screeners to match target demographics, consistent survey administration to avoid bias, and rigorous data validation processes to maintain integrity. Our clients back up our claims for panel quality, scoring us:

• 5.1/6 for panel quality
• 5.3/6 on the ability to deliver
• 5.3/6 on client satisfaction
• 49 net promoter score

 Read more about our extensive data quality practices here.

Data delivery tailored for market understanding

Like all aspects of our market understanding solution, deliverables are entirely tailored to your needs. Basic outputs include raw data or data tables, but clients can also opt for bespoke automated reporting solutions, such as Norstat Dashboards.