Nigeria’s first online digital market research service provider, MarketInsight, has announced the launch of its online market research gathering service portal for International and Nigerian companies, and organisations.
Meant to gather insight of the Nigerian market by conducting competitive market analysis, product research and market trend analysis through the online portal, it is also intended to “gather real market data in Nigeria for new product development.”
Ofonime Eset, chief operating officer of the company who made this known in an interview said that making market entry decisions or making any type of decision involves a lot of work in activities including deciding on segments of the population to get the required data.
Eset, who noted that deciding how a product looks like in terms of expected outcome and talking to respondents either by conducting face to face interviews, phone interviews or focus groups is crucial in marketing research and decision making.
“Once the data has been collected, it has to be cleansed, analysed and made into formats which offer actionable insights.
“We have seen different organisations struggle with gathering data on the streets in Nigeria, some small organisations don’t have the manpower or resources to carry out the activities involved.
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“Most organizations don’t conduct market research, the ones that do cannot get meaningful insights out of the data they generated. These are problems we are looking to solve with our online platform,” said Eset, the Chief Operating Officer of MarketInsight.
According to him, the market research service is offered through the online platform where organisations of any size can create their research projects with screener questions, scale based, multi choice or other types of questions.
According to him, the project creator submits the project to kickstart the research service, adding that the questions submitted would then be taken by respondents and appropriate research methodology and service applied to ensure the organisation gets meaningful insights.
“On completion of the research project, the organisation is sent the analysis for their use.”
“Many businesses fail because they are not well informed, we are not limiting ourselves to big companies alone, we look at start-ups as well as Small and Medium Scale Enterprises,” he said.
He expressed the hope that the company would fill the yawning gap in assisting organisation and companies take informed decisions that would help them grow their businesses.
