RESEARCH FIRMS DESCRIPTION 6
Thetwo research companies to consider in this discussion are the KantarTNS and IPSOS research companies. IPSOS Research Company is a globalcorporation that carries out market research on various issuesaffecting the society. It concentrates more to the opinions ofcitizens about the various occurrences that happen in the world. Suchevents include elections, liking of a certain government and otheropinions. The core work is to carry out a market research as therecipients awaiting the results regarding their surveys are theconsumers.
Onthe other hand, Kantar TNS Research Company specializes withimpacting decision making of client companies regarding what toproduce, how to produce as well as the features to include (Azagra etal. 2014). The company carries out a survey of the customers’ needsand offers advice to their clients on what is the best productionidea to implement. The company tailors their research objectives totheir customers need to boost their business and attract morecustomers.
Theservices offered by the two companies are similar as they all involvecarrying a research that would win the customers’ trust.
Thetwo companies utilize various tools to conduct their research. IPSOSCompany uses segmentation tool to conduct its survey. This is done byeither concentrating on a certain continent, country, county, provideor any other segment. This applies this tool to enhance the coverageof only the market that is being affected by a particular issue(Jordan, et al. 2015). Also, the company applies brand shout tool toask and confirm how the consumers react to their product, and alsouses to determine how the customers respond to the interviewinteraction.
TNSCompany, on the other hand, applies the expertise tool. This toolimplies that the organization has experts all over the world whoscrutinize what the firm ought to do to boost their profitability.The enterprise also uses the connect tool. This enhances the companyability to reach as many people as possible. The institution hencepromises the client to provide a bigger market. The research firmalso applies the value adding manager as a tool to ensure that theproducts being marketed are tailored to the customers’ needs.
Advantagesof using the research firms
Byusing the research firms to carry out the task on behalf of anorganization, this allows the organization to carry out the corebusiness that it is best at. This enables the organization to havemore time to solve other issues pertaining the customers rather thanresearch.
Thedecision making is also eased. This happens as the organization actson the advice offered by the research company after conducting asurvey. The organization will not need to spend much time innegotiations and discussions.
Anorganization that uses the services offered by the research companiesis less likely to fail. This occurs as research companies carry astudy by including experts. The experts pass on decisions that arewell informed to the client company. Chances of poor decisionimplementation are minimized.
Acompany might decide to utilize its money in-house instead of usingthe research companies because of various reasons. First, theresearch companies charge a high fee for the services provided. Notall companies are financially stable to support this kind ofresearch. They will opt for cheaper marketing methods.
Thecompanies may also feel that they might lose confidential informationto the competitor. For a company to contract the research company, ithas to provide crucial information about the kind of activities theycarry out (Masiello, et al. 2015). This risks the leakage ofinformation to the competitors.
Thecompanies might also not like the inflexibility involved in theirdecision making. Research companies make a decision for the clientcompanies tom implement as it is. The management might feel that thedecision making ought to be in-house and decide to utilize the moneyin-house.
Varioustools have been discussed in the lecture which can be used by thefirm to enable an enterprise to complete its research internally. Oneof the major tools discussed is the SWOT analysis. This tool willenable the institution to determine their internal strengths andweaknesses and also identify the external underlying opportunitiesand threats. By looking into the strengths and trying to match themto the opportunities, the company will be in a good position toachieve its goals (Ovseiko, et al. 2016). On the other hand, theorganization will be able to complete the research on what ought tobe done to reduce the weaknesses and prevent the adverse effects ofthe threats.
PESTELtool is another research tool that has been mentioned during lecture.PESTEL entails the aspect of determining the external factors thataffect the operations of the organizations. By understanding theexternal environment surrounding the organization, it will be in aposition to complete the research on what ought to be done. Theresearch completion will be by determining steps to follow to eithertake advantage of the favorable external environment or how toprevent losses from the un-conducive outside business worldconditions.
Azagra-Caro,J. M., Pardo, R., & Rama, R. (2014). Not searching, but finding:how innovation shapes perceptions about universities and publicresearch organisations. TheJournal of Technology Transfer,39(3),454-471. Retrieved from: www.ipsos-na.com/products-tools/
Jordan,M., Rowley, E., Morriss, R., & Manning, N. (2015). An analysis ofthe Research Team–Service User relationship from the Service Userperspective: a consideration of ‘The Three Rs’(Roles, Relations,and Responsibilities) for healthcare research organisations. HealthExpectations,18(6),2693-2703. Retrieved from: www.tnsglobal.com/
Masiello,B., Izzo, F., & Canoro, C. (2015). The structural, relational andcognitive configuration of innovation networks between SMEs andpublic research organisations. InternationalSmall Business Journal,33(2),169-193.
Ovseiko,P. V., Edmunds, L. D., Pololi, L. H., Greenhalgh, T., Kiparoglou, V.,Henderson, L. R., … & Lechler, R. I. (2016). Markers ofachievement for assessing and monitoring gender equity intranslational research organisations: a rationale and study protocol.BMJopen,6(1),e009022.