They’re serious, no kidding!
If you ask around about market studies, Euromonitor International (euromonitor.com) is a word leader in providing business intelligence to their clients. We haven’t visited them yet, but they have offices in London, Chicago, Singapore, Shanghai and Vilnius. Oh, yes, and they’ve been on the market for over 40 years.
“How do you say ‘milk’ in Hungarian?” or “How many declensions in a noun?” weren’t among the questions we had to answer. The client needed qualitative and quantitative information on the dairy products market in Hungary. Deadline? Hmm, very tight. Information? Vital for our client. Why? So that they could make the right supply and pricing decisions for the Hungarian market. So, business strategy and decision-making. We looked especially at the information we got directly from our respondent, but also at the information available in representative secondary sources of data existing on the market (reports, associations in the sector, expert compendiums).
Phone me, I’m… plugged in
After the briefing meant to help us understand the client’s template and the specific problems that could arise, the study was carried out especially by telephone, but also face-to-face with key respondents in the sector. We first aimed at obtaining relevant information for our client: the level of consumption, tendencies, production, packaging types and size, the level of sales by sector, the level of exports, the development of new products.
Then, we completed and validated several categories of information with strategic importance for our client. Exactly how we did that is a topic we’ll discuss if this is what you need. And yes, we’re creative and we’ll find the suitable control keys for each situation.
Sometimes there are clouds
With what reservations we were sometimes received is something only we know. But there were quite a few and, every time, we looked for alternatives and focused on results. In the end, we obtained the information at the “impossible” rates of 96%, from 90% of the respondents targeted by our client. The client’s expectations? Exceeded. Deadline? Met. Feedback? Extremely positive.
Founded in 1972, Euromonitor International is a global leader for the market research industry.