Market research is a way for companies to get an idea about what products or services the public is most interested in buying.
In order for a business to succeed, it must have a very clear understand of who its customers are and what their needs are.
A business that finds gaps in the existing marketplace and offers products or services that fill in the gap is going to have customers or clients who are willing to buy from it. This function can be performed in house or by retaining the services of a market research company.
No matter how it is done, market research is conducted to find out more about the company’s target market. By knowing a great deal about who their customers are and what motivates them to buy, the business can not only meet, but take steps to anticipate their customers’ needs.
As a service to their clients, some market research companies offer secret shopping services to their clients. In order for companies to know whether they are on the right track in providing customers what they want at a price they are willing to pay, they need information. The secret or mystery shopper who visits the business is a neutral observer who reports on the treatment they receive from the business.
One reason mystery shopping and market research are related is that mystery shoppers can provide information about customer service practices and alert the client company to possible issues very quickly.
If the same company waits until its sales figures for a quarter are down and then starts investigating, it is much more difficult to repair the damage to the company’s reputation and turn the figures around.
Mystery shopping is an activity that companies can use on a regular basis to get a good idea of what the experience is like when someone does business with them. Any issues involving policies or personnel can be dealt with quickly and relatively easily. The information provided by mystery shoppers can be used to make changes as necessary to ensure that customer service doesn’t suffer.
Multiple reports prepared by mystery shoppers become part of the company’s market research efforts. Those companies who do the best job of meeting their customers’ needs and making them feel valued will be the most successful. Mystery shoppers are one strategy that savvy companies use to find out this valuable information.