JSB Market Research | Gateway of insights

JSB Market Research: Gateway of Insights

JSB Market Research’s profound solution facilitates you to maximize your budget of research by purchasing only the precise data you require. One can extract individual sections, charts, or graphs, tables, from our inclusive collection of more than 1, 71,762 market research reports from large number of leading and trusted publishers.

While investing in market research for your company, you expect the assurance of getting precise information answering your crucial business queries at the best cost. Comprehensively, at JSB Market Research, we have team of experts who will work with you to recognize the research you require and make sure it is promptly delivered, not only minimizing your research budget but also your business risks.

JSB Market Research aims to make the process smoother for decision makers to find pertinent information and track down suitable market research reports in no time. We assist in taking crucial decisions for your business through our well-analyzed research. Being associated with well known global market research firms which are leading their concerned domains, we help to acquire industry analysis solutions for our customers’ needs regardless of customization necessities of research reports.

Marketing strategy for travel and tourism industry

How marketing strategy helps travel and tourism industry

Tour industry is one of a kind service, thus, marketing a tour differs in many ways from advertising a product or any other service for that matter. You’re fetching customers by promoting a destination and not a particular product. It’s essential that you frame your marketing strategies with care with a detailed plan so that it meets your specific goals and reflect it on better output.

Forming marketing strategies need not be complex. Moreover, it’s that warp and weft which helps guide you to make sure that you’re consistently benefited with the product and services you’re selling by marketing them in an appropriate way. The aim is to reach your target audience, gain loyal customers and have a positive effect on the return on investment.  

To explain it further, following are a few compelling causes you should keep in mind explaining why there’s a need to have a proper marketing strategy in your travel and tour business.

  1. Know your ideal customer

An ideal customer will follow every marketing activity of yours, therefore, it is essential to discern the traits of an ideal customer before planning the market strategies.

When you don’t recognize your ideal customer, you aimlessly spend money and time for those who may not be interested in your product or service, because of this, your efforts go waste with no productive output.

A market analysis can help identify your ultimate consumer. It allows you to be specific with your messages and widen your opportunities of getting as many sales as you potential can with optimum efforts being put in.

  1. Know your USP

There’s often a component of the business unlikely to find in competitors and hence, it makes your firm unique a strong selling factor. If you can communicate it to your ideal customer in a smart way, you’ve learned the ropes of marketing.

  1. Study Market Place

The globalized world has transformed the viewpoint tourism industry making it an ever-growing marketplace. A plan based on well-formatted tourism market research enables assessing industry’s competitive environment, consumer demands and market trends. This eventually gives you an opportunity to scrutinize your functioning and how you can augment your scope to better target your audience.  

  1. Computing ROI

You may run plenty of marketing projects, although if you can not track the ROI of your marketing activities, it none but waste! A market research report shows many travel and tour firms review their promotional activities by comparing them with the change in return on investment.

The strategy outlines how you wish to hold your operations accountable and make changes in them which are not generating any outcome.

_ _ _

Having seen the cut-throat competition in travel and tourism industry, it demands marketing to be the best part of administrating your business. Why? Because you can communicate the advantages of your firm to the ideal customers. That being said, the difficult part about marketing is to be specific and focused about —  (1) What, (2) How and (3) Where to market your product and services to get the optimum impact.

healthcare industry trends 2018

Healthcare Industry trends to watch in 2018

Technologies like AI and Machine Learning will be seen incorporated into the conventional practices in the healthcare by startups and that’s what will spruce up the sector altogether.

The healthcare industry has emerged with a lot of new trends coming in the year 2017. The pace manifests its revamping in the upcoming years. Market research reveals, the year 2018 will witness the healthcare sector with an outstanding contribution by technology uplifting its operations to its best.

Entering 2018, there’s going to be plenty of emerging trends talking about how transparency digitization which is salient for healthcare ecosystem. The report is drawn studying Indian healthcare market.

Incorporating Artificial Intelligence and Cloud:

The healthcare ecosystem has become more organized due to rising adoption of Artificial Intelligence. Incorporating AI technology will resolve problems of hospitals, doctors, patients and the overall industry.

Today, the artificial-intelligence-driven applications are enabling people to talk to doctors, physician, and medical experts for the best suitable treatment. Further, the introduction of E-records has made it possible to access medical data of the patient anytime and anywhere. Whilst, it has also enabled the billing to be organized by the new medical billing system. With this, the science organizations are seeing opportunities to achieve productivity subsuming artificial intelligence in the operations.

The needed Transparency in Healthcare:

Nowadays, patient satisfaction is more determined by the healthcare accountability than many other components of healthcare service. This has made transparency an important element in the healthcare industry. Patients must be availed with the prescribed treatment, medical history, and other records. It eventually will drive positive results and greater satisfaction in patients.

The technology will help patients contact their physicians and doctors through VC to ensure that the procedures are correct.

Introducing Internet of Thing in the Healthcare industry:

Technology industry reports suggest that healthcare providers will embody inventory management and asset tracking based on IoT system. This will ultimately help assure the safety of the patient, operational effectiveness, and staff satisfaction.

The increasing use of IoT will help healthcare providers to make operational decisions and consolidate data thorough platforms enabled by IoT. This will also help enable optimal utilization of assets and reduced costs.

Mobile and handy devices can help to identify risky elements and provide preventive treatments to the patients. It can be utilized to foresee healthcare problems and other trends in the industry.

Contribution of Wearable devices:

Wearable devices like watches, footwear, chest strap and sensible glasses are another technology has simplified the process of collecting the data of patients, making it accessible from anywhere. Such devices are nothing but accessories based working on sensor-based applications.

They are designed in a way that people will try to become healthy, active, eat well and sleep well.These devices help manage blood sugar, blood pressure and even the heart rate of patients.

The healthcare industry has put the potential of technology through its paces to improve, knowledge, communication, caliber, outcome, and effectiveness. Incorporating all these changes into healthcare industry will not only help to deliver best healthcare services, it will also boost a healthy lifestyle.

An Overview of Market Research Industry 2017

Market Research Industry 2017: An Overview

The market research company is turning over a leaf with the new year coming. Rising business expectations in the competition-driven market have transformed market research service industry in 2017. We’ll see a few highlights from what has happened up till now!

A report highlighting the significant happenings in the market research industry in the year 2017 was revealed. It gave an overview of market research industry 2017 along with the potential opportunities to look for in 2018 or the near future.

Looking back in 2017:

  • Five-year-plans

 According to Graeme Lawrence, sales, and marketing director at Join the Dots,  the company’s success does not lie in selling. The real success lies in building a brand through a proper plan. A five-year plan has helped direct a path of the organization. These companies target a ‘desired state’ as the ultimate aim for a specific time. They plan their departmental and financial operations which outline that goal. It was demonstrated by the experience of some of the market research companies and they received considerably good results. The equal importance is given to how companies execute the plan across the organization.

  • Client Feedback

Companies make great plans and involve experts to give inputs. All that is fine, however, there may be chances that the plan becomes inward-looking. It may neglect the real organizational motive, which is, to help their clients for making wise business decisions. For that, collecting clients feedback on a regular basis is necessary. Leading organizations nowadays gather clients’ feedbacks through the customer-satisfaction survey. Some of the companies also summon advisory boards or conduct seminars to get find feedback in a subtle way and ensure that their business product and service planning is relevant and beneficial to them. With this, they aim for improving their performance regularly.

  • Disruptors and Challenges

In a recent survey on the impact of the market research industry, it was found that data visualization becoming a trend with respondents 48% identifying the dashboards and other visual statistics while 47% were responsive to social media and 42% for behavioral economics.

In a Market Research Industry analysis GDPR that is, The General Data Protection Regulation is considered as a major challenge to face in 2018. Only a few of market researchers were prepared with new data protection laws while many of them weren’t even aware of the word.

The 2017 year showed that it had never been so important for MR companies to be transparent about the information.

  • Automation = Faster Insight

The results showed that the demand for faster insights has grown relatively more and it may rise rapidly in 2018. The introduction of automated research tools is gaining attraction of researchers. Besides, DIY research solutions have helped researchers to meet the requirements of customers offering sea change times in no time. Researchers are ensuring that they adopt right tools to back their necessities and with this, the automation of market research is witnessing massive opportunities in the near future.

2017 noted how the role of market researchers has transformed. Automation of tasks is allowing the researchers to contribute their time more on emphasizing what is highly essential, analysis generation which would provide direction insights for the clients.

A few Facts to draw:

  • Although 25% of the companies surveyed projected that the Market research industry will be growing in the next year. More than 50% of the companies anticipated that their own business revenue would reach higher year after year.
  • A value base function, quantitative reports fetches more share of the expense.
  • Online data collection reckoned for 56% of quantitative report expense in 2016, which grew from just 33% of outlay over 5 years.
  • Talking about human resource section in the market research industry, companies retained the office personnel level in 2016. As a matter of fact, the numbers have gone up by 2% over 5 years.
  • Client sector study showed how a division of spending remarkably stable for the past few years. The spend for each sector is as follow: consumer (30%) , Govt/public sector/NPO (15%), IT (10%) Media (10%)

What’s next?

Artificial intelligence (AI) and machine learning are anticipated to be the future of market research industry. As the advanced technology enables accuracy than ever before with greater reliability. It also creates vast new opportunities to explore. A prominence of voice operative tools like Alexa or Siri can potentially become a prominent instrument in the market research industry.

With the incorporation of artificial intelligence, clients would expect market research consultancy firms to offer technologies that deliver insights or directional guidance that empowers crucial and dynamic decision making.

Some of the market researchers expect to see consolidation in the industry in a much-systemized way. Those who anticipated a changing market dynamics and invested ahead of the curve showing their strength, while those who haven’t will be exposed.

Organizations expect funding or stakes and immersive feedback to be continued. Be it studying concepts for a campaign or assessing the new products ahead of launch, research is something that plays an important role in the way brands function. In the end, as companies put forth maximum efforts and reduce spends in times of economic unpredictability, often the contrary is being witnessed in the market research industry. Corporates nowadays possibly invest in research to give ground to their ideas.

The future is closer than we think

The director of PwC Research, Alison Blair “It’s 2030 and a generation of super-workers – thanks to medical, technological and physical enhancements – inhabit a world where exceptional talent commands premium reward but where the number of workers in full-time permanent employment has never been lower.”

This new market world has become bold and brave, it has made data and insights a source of power. Customer preferences, buying and selling patterns, state investments, corporate decisions or weather for that matter, all interlinked digital information source are extracted, processed, evaluated and monetized every year in zillions of formats. Artificial intelligence is going to make market research stronger by underpinning, redefining and reshaping the work and workplace of fierce competition.

Firms will be progressively looking to determining practical and real-time decisions from the analysis of an array of data sources. All that being said, one fad may transpire that this grown sophistication of AI means more being done in-house and analytical advice being taken for execution.

 

Brexit

Know How Brexit Reflects in the Recent Marketing Budgets.

It has been more than a year since ‘Brexit’ took place. A lot of predictions were made prior to the event taking place however its impact on marketing budgets is nonetheless same.

In a market analysis survey, around 70% of companies were found with the same marketing budgets levels as they were three months ago in response to political and economic uncertainty.

Having said that, the Q3 survey report released a net balance of +13.4% of firms recording a rise in their budgets. It is namely the fourth year of successive positive revisions.

The report also signaled a continuous fall in the performance when compared to overall marketing budgets. This is due to its ninth successive quarterly drop in market research spend.

The industry analysis report holds original data produced from a board of 300 marketing experts.

The impact of Brexit negotiations and the UK’s future withdrawal from the EU as reasons for their uncertainty, incorporated with data of reduced investment and clients’ wish to retain the cost low.

Earlier in the year, market research showed a net balance of -2.9% of companies in the survey predicted a reduction in market research budgets during the 2017/18 financial year as a whole.

We’ll see a few more factors that revealed key insights:

  • 24% of marketers were less confident about the financial prospects (Compared to 3 months ago)
  • 29% of the marketers had more confidence about the financial prospects. of their companies.
  • Around 12% observed a descending revision to market research budgets,
  • Approximately 10% noted growth for the same.
  • The net balance of -2.4% made market research the only category to record a net reduction in spending during Q3.

Director general at the IPA was surprised to see the extent to which marketing budgets are held captive in the wider economic and political uncertainty. He perceived this vast majority as their state of paralysis, after seeing 70% of UK marketers’ unrevised budgets.

PR

Public Relations budgets were reduced moderately in Q3. Although there has been an ebb and flow situation underway for past two years of the survey. It is following modest growth in the previous quarter. Having seen growing importance in personalized marketing, it has reflected in the budgets as well.

Main Media

The main media advertising has witnessed a decline in the net balance which is happening for the first time since 2013. It may seem that Brexit is the cause of the declined budget however it was already undergoing a slowdown long before the announcement of the ballot. Owing to the fact, the UK media market has softened near the end of this year.

Events

As we have seen social media and smart technology offer us a blend of the physical and digital events, we experience a progressively remarkable shift in a proposition from brand marketers budget and the trend is continuing. 

Simply put,

Embracing the Brexit situation, understanding the managing finance for marketing is now key to providing the best partnership assistance to clients. The global market research suggests unfolding ideas that have short-term commitment and outcome but shell out strategies and directions for a longer term.

Online Surveys in Market Research

How Online Surveys in Market Research foster progress in business

There are millions of business owners in your field trying to market their product before billions of people out there! How are you going to widen your horizons and reach your target audience more efficiently? Challenging enough to make you work with your fingers to the bones? Of course, there are no shortcuts to influence the market and be ahead of all.

That being said, business Intelligence is something that can take you out of the clutter and guide you to the right path.

Benefits of careful Market Research Study

You would find companies which have successfully cracked market despite entering at an odd time.

What can be the possible factors to stimulate this faster growth? It is clearly a result of a smart study of global markets! And not to forget the transforming environment a company adapts changing their goals into reality.

A market research study closely monitors consumer activities over a certain period. The observatory information helps companies to brand themselves cleverly and run campaigns that would propel behavioral change in the market.

Connecting with consumers

The way consumers view, obtain and use media is changing rapidly and the evolution is remarkably reflecting in different promotion strategies of companies. Online Surveys in Market Research utilize devices to connect segments of the population which is accustomed to different devices, most common of them being the mobile.

It involves young adults, tech-savvy, travelers or upper-class respondents. These online surveys have potential insights that lead to the constant change of affairs in consumer’s mind.

Following are the different ways through which online surveys help to peek into perceptive information about the consumer.

  1. Measure brand awareness:

    You can capture information that can bring out the key element of your brand or product. You would comprehend new ways to market your creations.
  2. Track consumer behavior in real-time:

    Online market research data helps outline surveys in a way that would reach each consumer using the device. It makes constant engagement with the target audience which is reachable a click away.
  3. Create customizable solutions:

    Data insights can help you develop a niche market and reach that specific demographic by customizing the survey as per your requirements. Be it travel freaks or couch potatoes, research reports can reach all targeted audiences.
  4. Connect with global respondents:

    Brand perceptions and awareness among your consumers is an essential factor while forming business strategies.

A great deal of effort is put in the data Research which can take you on the global scale quickly and efficiently if executed properly. Online surveys are not only quick and efficient but also a cost-effective method that seizes opinions and perceptions and habits of your target audience.

  1. Tap into emotional insights: 

    When you design you surveys smartly, they can possibly trigger deeper, non-obvious, emotional insights about the customer or even market overall.

When you plan your surveys through market research, it answers a number of questions like, How well are your products performing? Is it meeting your customers’ expectations? How reliable is your brand to consumers? Is your market message reaching your consumer? Is it even making any sense?  How are customers perceiving your service?  It sets an objective for your business and shows you the room for improvement, ultimately driving change in the market.

Industry Insight

What is an Insight? Why do businesses in the search for ‘insightful’ information

Businesses talk about big words like planning and strategies and whatnot, however, they would often be found oblivious to the most crucial factor of the business. Customer!

How many businesses understand their customers to its true sense? When it comes to creating new products and services, or marketing products to potential consumers, very few firms refer to what they call market research insights.

Companies have done a lot of research to create something which can be called insights. Many of them don’t even know the actual meaning of the word. Most of them are misled in the name of it.

A dictionary defines the term as knowledgeable information that holds an accurate and deep understanding of something or someone.

We would look a couple of more definitions which would clear the air by explaining its meaning in a better way.

A study suggests the denotation of Insight lies in a meaningful opportunity created from the information perceived through research.

While that research can be called as insights. Others have interpreted insight as to the answer to why rather than what of a trend or behavior along with further explanation of what if?

Insight is something that seems obvious to a layman but important to a marketing fellow. Industry insights give you ‘I never thought of it that way’ moments eventually helping you to turn the information into opportunities.

If we try to study different words related to insight, we can comprehend the word well.

Simply put,

Fact: 66.7% employees in an organization drink coffee.
Observation: Employees drink coffee twice a day.

Insight: Employees drink more coffee when they are stressed.

From above examples, we can understand that insight has to be new, focused, intense and directional.

It outlines our thinking of how we see a situation, leading us towards creativity.

Market research companies can give you insights in following ways which would have prospects to accelerate your marketing strategies of the company.

  • Consumer insights
  • Cultural insights
  • Future insights
  • Products insights
  • Brand insights
  • Market insights
  • Purchase insights
  • Usage insights
  • Owner insights

Incorporating insights into marketing the product

  • Insight helps to understand your target group in a way that you can market products towards your customer to propel purchasing habits.
  • Demographics, psychographics cultural impact can help you analyze how your customers make decisions while buying a product. Besides, it enables organizations to know what can be done to influence customers’ choices.
  • It involves accurately determining which marketplaces have a demand for your product as it can be an important element to increase your product sales.
  • Research on your competitors focused on where they’re most effective and how their marketing strategies are affecting customers can help to analyze your company’s strategies and the necessary changes to be done in your operations.
  • With rapid changes seen in technology, you have to select the right channels to sell your product which would keep pace with technological trend most effectively.

These are only a few ways how you can incorporate insights to market your brand. Market researchers comment, insight is rather an open concept which open thousands of doors trailing innovations and creative visions.

AI Technology for Marketing

E-commerce Dominators Use AI Technology for Marketing. Know How!

Studying the AI-powered innovations in the e-commerce industry, a market research answers how leading e-commerce companies adopt AI applications, understanding its impact and contribution to the market.

In the domain of AI technology, the constantly developing breakthrough and innovations in e-commerce world have allowed online retail industry dominator’s to incorporate advanced technologies into their business operations.

It continues to expand to serve a growing number of consumers, and it has spurred the need to streamline the operational business, eventually demanding an automated system.

Artificial intelligence in e-commerce

Incorporating AI technique in marketing operations is an attraction in Technology Industry. Following are few of the popular AI applications from leading e-commerce companies.

  • Chabot’s (customer service)
  • Image and voice recognition (search results)
  • recommendation engines (product recommendations)

We’ll see how different companies are implementing AI for their e-commerce websites.

  • Product recommendations

Leading e-commerce companies like Amazon & Alibaba today, integrate product recommendations based on buyers’ purchase history, location, background etc.

A report suggests product recommendation engines do a reasonable job, as such companies provide a good number of offers on their websites. Although companies do not reveal anything on its effectiveness.

An AI engine also creates personalized product-buyer matches to help sellers to increase their product sales.

One of the leading e-commerce companies based in China claims that the technique has helped them increase the conversion rate by 20% during its 24-hour-shopping event in 2016.

  • Combat fake reviews

Today, AI techniques can tap positive reviews instead companies paying influencers and others for positive reviews.

A leading company reported a machine-learning algorithm to filter online authentic reviews with added improvisation.

A research report shows, using neural networks, authentic reviews can be distinguished, and awareness of the misuse of AI is spread across the industry.

  • Style recommendations

Prominent organizations in the fashion industry are planning to use AI to widen its marketing reach. Echo Look, an innovation that is similar to having a personal stylist. It integrates human advice and machine learning to provide a hands-free camera assistance.

Another AI innovation from the same organization allows users to take photos or videos of their outfit to post on social media.

Further, it compares outfits using data analytics. Speech recognition, natural language comprehension, dialogue systems, answering to different questions asked are few of the areas where companies are exploring AI system.

  • Smart supply chain

Enterprises exploring smart supply chain predict ever-changing buyer trends to allow traders improvise their products and other operations.

Supply chain design encourages innovation that might lead to improved products and services.

The smart transportation system is bringing advanced technology to transportation health care and governance sector.

  • Chatbot’s

Industry analysis says AI has aided companies to obtain vast customer data that discovers crucial issues and improving customer support management channels.

Many of the consumer inquiries get completely resolved using AI technology while all of them helps consumers to find support.

Note:

E-commerce industry giants are investing a huge number in AI technology to help boost return on investment and better the branding of the organization. Moreover, it is reshaping the online retail sellers functioning ultimately improving the service driven market overall. Because of AI applications, these big companies reaching customers with a variety of products at affordable prices and hence setting a benchmark before others. It would be interesting to see how it impacts the competitors as the pace of advancement might become troublesome to the new entries in the global market.

 

Custom market research

5 Custom Market Research Methods to grow your business

Rapid times require rapid measures. Today, technological impact on all organizations across the globe is carving a cut-throat competition in the market.

Business firms are expected to be on their feet, swiftly molding their business with the change in customer demands and commerce trends overall.

Market Research is becoming a key element to witness the transformation taking place in industries.

We, as businessmen, hold information in high regard when it is made just for us. Custom market research offers data precise enough to plan our business and make important decisions.

So, here we are, with 5 methods how custom market research helps business to grow better.

  • Goal setting :

Setting definite objectives while entering the market builds a foundation of any enterprise. Although it gets difficult if you lack the necessary knowledge of your product, your company analysis, market analysis, customers, and competitors. You may land up in the middle of nowhere with too much of vague information available.

However, customization gives you a direction, with a clear understanding of the requirements of your firm.

It lets you know where you stand and what you have to do to lead the market, eventually setting goals for the company.

  • Rebuilding your firm :

With new potential competitors coming in and technologies getting advanced, the competitiveness gets increased.

Even after being in the market for a long time, updating your business becomes a necessary thing. Customized reports bring you up to date and hence upgrading business operations.

You rework on weaknesses and mold your entity as per the demand.

  • Acquisitions or Merger

Merging or even dealing acquisitions can be a dicey game. You cannot predict what you’re getting your business into.

Custom Market Research help reduce risks by giving comprehensive analysis and review of companies and proceedings. It involves studying history and projecting future with reasoning estimates.

  • Expansion and diversification:

Expansion and diversification can be key factors to heighten businesses and taking them to the next level.

That being said, it has to go with well administration and conduct.

Market Research which is tailored to your requirements, bought from a firm who is investigating all these procedures on a regular basis, can give you better data and insightful information on the same.

It incorporates possible opportunities in concern region which would fit your company’s environment.

  • Specific section:

A company may require independent data for standalone requirements. Many a time, firms focus on one of the aspects of their business operations.

For example, finance, sales, marketing, technology or product quality enhancement. Personalized reports can cut short the unnecessary information and present you with detailed accurate data of what exactly you want.

Market Researcher’s go down to the wire and give a bigger and exact picture of the required facet.

Normal market research can help address a variety of business challenges with panoramic view of the market, on the other hand, Custom market research reports give you a more explicit solution to meet a client’s one-of-a-kind requirements and objectives.

Blockchain and Digital Crises promise among 2018 Forecast

Blockchain and Digital Crises promise among 2018 Forecast

It maintains customer experience (CX) has hit a wall in spite of becoming centre of attraction of business strategy. It estimates around 30% of businesses will face further declines in CX performance, which will translate into a net loss of a point of growth, in 2018.

Additionally, smart executives will interfere to create customer experience an internal disruptive power, one that is underpinned by the basics of Customer experience management with customer trust at the core.

Moreover while digital resdiponse is required to meet customer expectations, it is not always being attained by business.

The market research report points to more than 60% of executives think they are last in their digital transformation. However that misses the point. CEO problem and an economic question is digital transformation.

Predictions 2018:

The rules of the market are varying as power shifts from the organizations to the clients. As per the market analysis, the data will be used to increasingly control consumer options and decisions.

10% of purchase decisions will be shown by a platform’s agent that is the beginning of important economic impact of allowed machines, in 2018.

Other estimations in the market industry analysis consist of using IA to filter out the noise of the day; which 80% of organizations affected by GDPR will not comply with the regulation by May 2018; 75% of artificial intelligence will underwhelm because they fail to model operational considerations, causing businesses leaders to reset the scope of artificial intelligence investments, and that enthusiasm and rhetoric will continue to restrict blockchain gains.

Blockchains support the creation of more complex value networks, which can otherwise be supported.

Usually, transactions costs and other sources of friction linked with having more vendors keep the number of partners in a value network small.

However if locating and locking in partners becomes more complete, easier value networks can become profitable, yet for quite small transactions.