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Frequently Asked Questions (FAQ)

Consultant's job is to consult. Nothing more, nothing less. It's that simple. There's no magic formula or secret that makes one consultant more successful than another one.
But what separates a good consultant from a bad consultant is a passion and drive for excellence. And, a good consultant should be knowledgeable about the subject he or she is consulting in. That does make a difference. Welcome to M-Vector consulting agency, we’d be happy to help your business.
Market research is any organized effort to gather information about markets or customers. It is a very important component of business strategy. This term is commonly interchanged with marketing research; however, expert practitioners wish to draw a distinction, in that marketing research is concerned specifically about marketing processes. This involved evaluating the current marketing already being done for that product, or similar products that are created by the same company, and determining how well the marketing campaigns are working. This also involves studying the marketing techniques of other companies. While market research is concerned specifically with markets.
Marketing research is the systematic gathering, recording, and analysis of data about issues relating to marketing products and services.

Marketing research is the research that companies do to study consumers and other companies. Marketing research seeks to understand the best ways to connect a consumer and a product, with the hopes that the consumer will buy. This involved evaluating the current marketing already being done for that product, or similar products that are created by the same company, and determining how well the marketing campaigns are working. This also involves studying the marketing techniques of other companies.
A focus group is a form of qualitative research in which a group of people are asked about their perceptions, opinions, beliefs and attitudes towards a product, service, concept, advertisement, idea, or packaging. Questions are asked in an interactive group setting where participants are free to talk with other group members.
Focus groups are brought together to test a concept and see how it plays with various demographics. Focus groups are used by people developing advertising campaigns to make sure their message, whether print ad or television commercial, says what they want it to say.
Quantitative marketing research is the application of quantitative research techniques to the field of marketing. It has roots in both the positivist view of the world, and the modern marketing viewpoint that marketing is an interactive process in which both the buyer and seller reach a satisfying agreement on the "four Ps" of marketing: Product, Price, Place (location) and Promotion.
Qualitative research is a method of inquiry appropriated in many different academic disciplines, traditionally in the social sciences, but also in market research and further contexts. Qualitative researchers aim to gather an in-depth understanding of human behavior and the reasons that govern such behavior. The qualitative method investigates the why and how of decision making, not just what, where, when. Hence, smaller but focused samples are more often needed, rather than large samples.
Business to business (B2B) research is inevitably more complicated than consumer research. The researchers need to know what type of multi-faceted approach will answer the objectives, since seldom is it possible to find the answers using just one method. Finding the right respondents is crucial in B2B research since they are often busy, and may not want to participate. Encouraging them to “open up” is yet another skill required of the B2B researcher. Last, but not least, most business research leads to strategic decisions and this means that the business researcher must have expertise in developing strategies that are strongly rooted in the research findings and acceptable to the client
A test market, in the field of business and marketing, is a geographic region or demographic group used to gauge the viability of a product or service in the mass market prior to a wide scale roll-out. The criteria used to judge the acceptability of a test market region or group include:
a population that is demographically similar to the proposed target market; and
relative isolation from densely populated media markets so that advertising to the test audience can be efficient and economical.
Consulting is the business of providing advice to clients for a fee in order to help them solve a particular problem or range of problems within a certain area of business. Consulting services are provided by consultants, a majority of whom have gained their expertise from previous employment.

Consultants help all sorts of businesses find and implement solutions to a wide variety of problems, including those related to business start-up, marketing, manufacturing, strategy, organization structure, environmental compliance, health and safety, technology, and communications.

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