Survey highlights importance of effective market research

Effective market research can provide firms with vital insights into consumer thinking and it can help them tailor their strategies in order to appeal to more people. These days, managers can take advantage of special survey incentives to help them boost response rates.

Highlighting the importance of market intelligence, the Institute of Customer Service (ICS) recently released the findings of a study that showed UK consumers have exacting standards when it comes to how they are treated by providers of goods and services.

It found that while Britons face fewer problems when making purchases than they did five years ago, they are more likely to complain.

The percentage of consumers who encounter difficulties fell from 17 per cent in January 2008 to 11.7 per cent in July last year. However, the proportion of those that went on to make a complaint went up from 72 per cent to 76 per cent during the same period.

Staff attitude and competence was identified as the most common cause of discontent and the leisure and public service sectors were most likely to receive this form of complaint.

Meanwhile, the quality and reliability of goods and services was responsible for 34 per cent of grievances.

Responding to the findings, ICS chief executive Jo Causon said: “Our research suggests that customers are most satisfied when complaints are dealt with immediately. As a result, organisations need to ensure that all customer contacts are handled consistently well, and that customers are not passed from pillar to post.”

She added: “It’s essential to try to prevent complaints occurring and, when they do occur, they need to be dealt with as quickly as possible and followed up to make sure customers feel the issue has been resolved.”

By taking advantage of research incentives, bosses can ensure they have greater insight into consumers’ though processes.