Methodologies for Industrial Market Research For businesses, surviving in today's hotly competitive international markets often depends on the quality and timeliness of available information. Information regarding technologies, competitors, domestic and foreign market conditions, for example, can play a crucial role in business development and market planning.
Personal interviews form the foundation of all serious industrial market research.
In such interviews, the quality of results depends heavily on the in-depth technical expertise of the researcher. In many cases, for instance, the most relevant information is gathered as a result of follow-up questions that are not a part of the initial interview protocol. This enables them to understand thoroughly the client's most demanding technical and business requirements. Since they are becoming an increasingly important industrial market research tool, focus groups deserve special mention. Focus groups serve as an extremely effective means for developing qualitative insight into market behavior.