Market Xcel Data Matrix Pvt Ltd.

Market Xcel is an organization that provides customized solutions in the field of research. It was established in the year of 2000, and since then it has been serving clients from varied industries.

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Online Survey Panels Research in India - We are the high quality online Survey in India that offer online surveys including CATI, CAPI, qualitative research and quantitative market research.

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Market Xcel Collaborates With Intermedia For The Sample Design Of The Fifth Annual FII Tracker Survey

The Government of India and private organizations continue to make a concerted effort to promote DFS-ecosystem growth. 10 different cashless payment modes, including banking cards, the United Payments Interface (UPI), mobile wallets, prepaid cards, digital banking, and more has been included under the Digital India Initiative. The government is aggressively promoting the idea of cashless

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Top Ten Market Research Companies in India - Market Xcel is one of the Top Market Research Agencies in India. This Firm has Expertise to execute global market research, Qual Quant Research, Social Research in India and more.

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Contact Market Xcel Data Matrix for the best qualitative market research and enhance your business worldwide.

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Top Market Research Methods for Wise Marketing Strategies

Every brand makes smart strategies to win over the market, however what separates a top brand from the others is that it builds its marketing strategies on the strong base of market research. Market research agencies in India and across the world help numerous popular as well as lesser known companies to get intimate with their customers, competitors and market. 

Market research agencies mostly opt for 3 market research methods for the same purpose. Read this blog to learn these methods extensively.

Interviews

If a brand wishes to dive deep into the mind of the customers, then it is the go to method. Market research agencies in India and across the world converse with the target audience face-to-face or via video conferencing using smart interview techniques to bring out honest results.

Focus Groups

Market research agencies use focus groups method to gain deeper insights about their product or industry from the users. An agency selects a group of people from the target market and holds a group conversation with the help of a moderator. The moderator notes down the most importance things discussed and presents to a company for the usage in market related decision making.

Surveys

Survey is the most common method of market research. Market research agencies in India and around the globe use this method to ask a set of question to the customers about a product. Survey is an inexpensive method of market research and also provides quick results.

Hence, choose a fine market research India company to conduct market research for your brand and incorporate meaningful insights while formulating your marketing strategies.

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Market Research Boosts Online Businesses

Every business understands the significance that market research holds to ensure its amazing growth. However, some people claim that online businesses cannot reap any benefit through market research as traditional businesses do. Is it true? No! Learn below how a market research company can assist your online business to touch new heights of growth quickly.

Identify New Possibilities

Identifying hidden new possibilities of selling a product in a market can be the key to success for online businesses. Your online brand needs to learn the country and place where a product can be in most demand. An online company can know such possibilities through market research.

Gauge Hurdles

Online companies also face hurdles while running a business. It is possible that a country or state may have strict regulations about your product or the product may not be as much in demand in a country. Hence, hire a good market research company to eliminate such possible issues.

Know What Customers Want

Tried and tested formula of business growth is to learn what the customers want. Only a survey can assist an online business to attain success in such a purpose. Go for market research to know what your customers seek from a product to offer them the best product.

Get Important Data 

Data is essential for every business today to write their success saga. Even if one owns a small online business, there is a need of at least having the phone numbers and email addresses of the customers to contact them regarding a product. A market research company can help in the collection of such data easily.

If you wish to give a flying start to your online start-up, then get sufficient market research and ground work  done through us like many market biggies do. Connect with us at [phone] to let us assist you achieve business goals.

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Plurk by marketxcel

The scope of research through internet is growing at a breakneck speed in India. Market Xcel's actively managed proprietary panel (called Xcel-Online Surveys) provides the industry with credible, quality & actionable data. Xcel-Online Surveys creates and maintains this environment by implementing our quality control standards and employing a dedicated panel management team that is solely focused on the development of a community of active, engaged and genuine respondents.

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Difference Of Quantitative Market Research VS Qualitative Market Research: A Quick Recap

What does your business require - qualitative market research or quantitative market research?

The right answer is - a mix of both. 

Where, What, Why, and When, quantitative market research techniques primarily investigate these questions to understand what works for consumers, qualitative market research on the other hand questions the “Who” & “How”. Therefore, out of the two, quantitative market research techniques are more structured while qualitative market research is more immersive as they deal with psychological, cultural, social aspects that influence a consumer mindset.

The Three Basic Differences between Qualitative Market Research & Quantitative Market Research

The Concept 

Qualitative market research inspects human behavior from the respondent's point of view! Quantitative market research techniques explore facts from and on social occurrences. Qualitative research, therefore, is more dynamic and open to adaptations, while quantitative research is more scalable and goal-oriented.

The Methodologies 

Qualitative market research is a long drawn process of collecting data through multiple methods, one of which is in-depth interviews of respondents. Quantitative market research techniques take less time to process statistical figures concluded from comparisons in consumer behavior. 

The Focus 

Qualitative market research focuses on multi-method analysis while observing individuals in a natural environment. The quantitative research focuses majorly on measuring things under a variety of categories, rank, and divisions.

How to benefit from qualitative market research & quantitative market research techniques

To design a powerful marketing strategy, it’s best to put to use the strengths of both qualitative market research and quantitative market research techniques. Once quantitative market research techniques give you statistical data you know the numbers for conversions and can set business objectives, accordingly. Qualitative market research helps improve product or service quality by reflecting on consumer behavior and preferences.

Both the techniques are a critical to make informed business decisions, decisions that can curtail risk factors, and escalate possibilities of converting business opportunities to real deals. Compete conveniently and grow your business with the benefits of qualitative market research and quantitative market research techniques- they help you understand your consumers better!

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Market dynamics have changed drastically due to Covid-19 lockdown. With European economies pulling out from China, India can gain new ground in the world trade! Will the pandemic open new international trade opportunities for India now?

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7 Desirable Traits of Qualitative Market Researchers

The job of a qualitative market researcher is quite enriching. You get to meet new people, learn about them at a new place with every new study you conduct. However, to prosper in this profession, one needs to have few qualities. Let’s discuss the same in this write-up.

Curiosity to know more

To be one of the best qualitative market researchers, one needs to have enormous desire to know more about the subjects of study. A researcher should try to dig deeper into the subject’s mind while conducting a qualitative market research to know why the subject has a certain opinion about a product or service.

An open mind

A qualitative market researcher should have an open mind and must lack predisposition. One should be open to listen to a participants’ criticism about a product or service and must not expect a desired answer from the interviewees to conduct an honest qualitative market research.

Knowledge of various research methods

One of the traits of a fine researcher is that he boasts of excellent knowledge of a wide spectrum of qualitative market research methods. Not just that, awareness of precisely which method should be used where is a prerequisite to conduct an effective survey.

Sense of empathy and connection

Market analysts have to conduct studies on numerous people. They develop a bond with people by talking to them well before conducting qualitative market research.

Moderation skills

Depending upon the market research method used, a market researcher may have to manage a huge crowd while conducting a group based qualitative market research. Participants may have heated arguments over the study of the subject which makes it a must for the researcher to possess great moderation skills to handle the participants.

Extraordinary data interpretation skills

Interpreting the data to present it in the right way is the key to the success of  qualitative market research, no matter which market research method is employed. A market researcher spends much time capturing most valuable data from the collected information.

Fine presentation and reporting skills

Researchers often neglect presentation and reporting skills which are actually of utmost importance in the field of qualitative market research. Hence, a market researcher must present and report a study well through a video, slideshow or email to leave a lasting impression on the clients.

Follow these expert recommended hacks to become a fine researcher and prosper in the field of qualitative market research.

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A Quick Guide to Top 5 Best Qualitative Market Research Methods

Qualitative market research methods dig into the "Why" and "How" of consumer behavior. It inspects the cause and effect graph to monitor the shift of preference from one product or service to another. Many market research agencies do this work to help brands understand competition by translating data into actionable business plans.

Methods Indispensable to Qualitative Market Research

1.Direct Observations of a Community

Human psychology, culture & social conditioning play an important role in forming opinions about a brand. Market research agencies watch the subject without making a difference in his environment and break down the reaction chain to draw a conclusive answer.  

2.Personal Interview of a Single Respondent

To understand mind-sets, market research agencies have to interview numerous respondents. This is a survey-format led by unstructured inquiries that capture data on people's behavior, motivation, belief - system, and connect. This data becomes the reference point for a brand to strengthen its connection with the consumers. 

3.Qualitative Market Research on Focus Group

Every brand has a target audience, the consumers who they want to sell the product/service to. This specified set of the target group always has something in common – interest. When market research agencies conduct qualitative market research they form sets of groups to interview and inspect lifestyle. This process helps a lot with marketing data collection

4.Man is a Product of Its Environment- The Ethnographic study

As an indispensable part of qualitative market research, ethnographic research studies people in their natural environment. By scrutinizing the experience of a consumer in a natural setting, ethnographic research helps brands understand the intimate viewpoints of individuals.

5.The Cause-Effect Study

A group of researchers aims to solve a problem with a group of recipients. 

The idea behind this qualitative market research is to improve or motivate change through knowledge sharing actions. These researches influence social issues like climate change, plastic-free world, etc.

6.Open-Ended Surveys

Open ended survey is another method assessing consumer opinion through a list of personal questions. Qualitative market research studies have shown that though two people can have similar interests, their approach will be different. 

There are multiple benefits of qualitative market research. But the most important of all is - Qualitative Market research helps brands provide consumers with what they want! By focusing on people-behavior and perception, market research agencies generate innumerable ideas to help brands improve communication.

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Audit Services

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8 ADVANTAGES OF QUALITATIVE DATA ANALYSIS

What makes a video go viral? What drives consumer brand loyalty? How online reviews influence purchase patterns – qualitative data analysis techniques investigate cluster information to derive key business insights in keeping with specific objectives as target-group, geography, interests, age group, hobbies, and more. Qualitative data analysis help understand market dynamics across a variety of industries. 

Now make informed business decisions, eliminate risks, elevate profit margin – with the help of qualitative data analysis techniques

How qualitative data analysis can help your business?

1. Offer what your customers need!

Understanding consumers and buying patterns is crucial for every business Quantitative research helps decode consumer behavior - What consumers want? What makes a certain store their favorite? What will they buy? Now you too can design business strategies around market demand with the help of qualitative data analysis

2. Offer New Solutions!

Qualitative data analysis techniques heavily influence business perspectives – how you offer innovative solutions to old problems. By tapping into a particular mentality of a certain socio-economic group, qualitative data analysis techniques offer tangible regional specific remedial strategies for businesses. 

3. Save More Profit More!

Qualitative data analysis helps save time and money. No more trying to hit the bull’s eye in the dark. Key market insights from quantitative research are reference points to what you should and shouldn’t do in business.

4. Switch from traditional to Creative!

Different from traditional research, qualitative data analysis takes into account the human experience and thereby leaves more space for creativity – in designing service, loyalty programs, product experience, grievance management etc. Thus it can be inferred that qualitative data analysis transforms a product into an experience!

5. Be future-ready!

Qualitative data analysis works as an intuitive predicament tool for your business. Envisioning the future becomes easier with as you get to know the strengths and weaknesses of your company and how to remodel them effectively! 

6.Make informed decisions!

Qualitative data analysis techniques have shown that companies stand to track business information better than others. When you can tally performance reports it becomes easier to devise a plan of actions that ensure minimum loss/maximum profit

7. Define marketing goals & returns!

Qualitative data analysis can put into perspective where you need or need not invest money thereby helping you create the right marketing and advertising strategies.

8. Experiment to Improve!

Qualitative data analysis provides flexibility to actionable plans. Because the study is based on emotional responses to authentic data, there is a large scope to experiment with service offerings to create unique consumer experiences, each time, every time.

It can be concluded that collecting unique and personalized data through Qualitative data analysis techniques can help brands understand and prepare themselves better for the future. convert fans to consumers with the right plans, take help from Qualitative data analysis experts today!

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Coronavirus Impact

The Novel Coronavirus has impacted all of us in various ways- emotionally, socially and financially. According to our recent research, people are experiencing a tide of emotions ranging from helplessness,anxiety, fear, confusion and lack of direction. While some of the effects have been felt ever since the Coronavirus Outbreak started, the impact is expected to last much longer even after the nation exits the lockdown.

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COVID Insights - Market Xcel

Corona virus insight report by Market Xcel.

In these challenging times of COVID Pandemic, the society norms are undergoing unprecedented changes. We, at Market Xcel, being the representative of the Insights Industry believe that we have a larger role to play

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Qualitative Data Analysis Research - We provides data analysis in qualitative method including primary data Collection, analyzing and synthesizing data.

Market Xcel has many years of experience in qualitative data analysis services. It provides market research services to many countries. Market Xel uses technical methods to determine the significance of findings and also rely on the thoughtful reflection of the same.