The ability to make quick, well-informed strategic decisions is crucial for the success of any company. Delays in accessing relevant information can mean missed opportunities or even a shift in the wrong direction.

This is where Agile Research comes in—an innovative method developed by MKOR for the rapid collection and analysis of market data, helping companies stay one step ahead of the competition.

In this article, we’ll explore how Agile Research can become your secret weapon for effective decision-making, enabling you to gather the exact information you need when you need it.

Data-Driven Strategic Decisions

So, what is a strategic decision?

A strategic decision is a choice that significantly impacts the overall direction of a company and how it achieves its long-term goals.

It’s a complex decision with a high degree of uncertainty, requiring a careful evaluation of available resources, along with an understanding of the external context (such as market conditions, consumer preferences, and industry trends).

Here are a few examples of strategic decisions where national-level market data is essential:

Launching a New Product: The company needs to understand consumer preferences and behavior on a national level to determine if there is sufficient demand and how to position the product.

Price Stabilization: Setting competitive prices for products or services requires data on purchasing power, competition, and regional pricing differences.

Nationwide Marketing Campaigns: To plan and execute an effective campaign, companies need data on consumer preferences across different regions.

To make a strategic decision, you have two options for obtaining market data:

  • Primary data, collected directly from the public through methods like surveys, interviews, focus groups, or direct observation.
  • Secondary data, collected from official sources (such as government agencies or the National Institute of Statistics).

Each type of data comes with a set of advantages as well as limitations.

Primary data is collected to meet the specific knowledge needs of the company, providing relevant market data tailored to the company conducting the study. The entire data collection process is carefully controlled, from sample definition to method selection, ensuring that data is collected accurately and appropriately.

Unlike secondary data, primary data is current and reflects the real-time market conditions and public sentiment, making it highly valuable for timely decision-making. Moreover, the company that collects primary data holds exclusive rights to it, which can provide a competitive advantage over others relying solely on secondary data.

However, primary data also has some drawbacks, such as significant financial and logistical costs, especially for extensive studies. The process of collecting, processing, and analyzing primary data can be time-consuming, which might delay strategic decisions that require quick responses.

Secondary data, while often more affordable and accessible, may not provide the level of specificity and relevance that companies need for exact insights. That’s where Agile Research steps in, offering the best of both worlds: statistically significant data at a much lower cost and within a shorter timeframe.

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On the other hand, secondary data is often available for free or at a low cost and can be easily accessed through public databases, government reports, or published studies. Using secondary data saves considerable time compared to collecting primary data. These sources are generally considered credible and valid, as they are typically gathered by experienced institutions in the field.

However, secondary data has its own limitations, such as:

  • Too General: It may not be perfectly aligned with the specific needs of the company.
  • Outdated: It might not reflect the current market conditions.

Thus, while official secondary data can provide a solid and economical foundation for analysis and decision-making, it should be used carefully, considering its limitations in relevance and timeliness for the specific needs of a company.

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Why are you basing your company’s strategic decisions on? In this article, we reveal the secret to making strategic decisions based on real market data. It’s important to know that concrete market data can only be obtained through market research. This is the only way to make informed decisions that build competitive advantages over your competitors. By collecting and analyzing market data, you can identify weaknesses, understand how consumers perceive your product or service, and learn how you differentiate from competitors. Moreover, through market research, your company can discover market gaps, unmet customer needs, and areas where you can improve products or services. This way, you obtain the essential information and perspectives needed to make well-founded decisions, realistically assess risks, and capitalize on the potential benefits of any strategy or decision. Access to customized, personalized market research data empowers your company to make decisions that help grow your business. Of course, this may sound straightforward in theory. So, let’s look at what it means in practice. When you choose to collaborate with MKOR, we focus on two main aspects:

  • Identify your company’s research needs to translate them into research objectives.
  • Develop a research methodology tailored to your specific objectives.

The research methodology provides:

  • An organized framework for conducting studies;
  • An objective and rigorous approach to key topics;
  • Ensures replicability of results to track progress over time;
  • Credibility of collected and analyzed data.

In this way, we ensure that research results are precise and relevant to the established questions and objectives. Recommended read:What to Watch Out for When Choosing to Work with a Market Research Agency: Top 3 Red Flags

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Why Make Data-Driven Market Decisions?

Making data-driven decisions means taking informed and verified actions aimed at growing your business based on market data and numbers—not solely relying on entrepreneurial instinct or past experience.

Using data for decision-making essentially involves achieving business goals by leveraging verified and analyzed information rather than acting randomly. Does this approach sound familiar?

To highlight the importance of data-driven results from primary sources, here are four examples of studies commissioned by MKOR clients:

Cupio – reached out to us for a quantitative study to evaluate brand awareness and understand the market context from the consumer’s perspective. The research report results were even featured in the press.

Piera Lingerie – sought a market study to delve into purchasing behaviors and brand positioning compared to competitors.

Upriserz – requested a market study to understand learning behaviors and Romanian perceptions of continuous learning. The goal was to identify learning habits and educational platforms used in Romania.

Apemin Tușnad – partnered with MKOR for a study on the consumption and purchase behaviors of bottled mineral water, focusing on brand positioning relative to competitors.

Data-driven market decisions provide businesses with a clear and well-founded direction, reducing risks and increasing the chances of success.

Through these study examples for Cupio, Piera Lingerie, Upriserz, and Apemin Tușnad, we emphasize that direct consumer insights are vital for understanding brand positioning, purchase behaviors, and market preferences.

This type of data empowers companies to make informed strategic decisions, helping them stand out in the market and achieve sustainable growth objectives.

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How Can MKOR Help You Make Data-Driven Strategic Decisions?

When you need data to make a decision, you need it fast. If our 12 years of experience have shown anything, it’s that time is critical. With this in mind, MKOR developed a new service: Agile Research.

Agile Research is a multi-client study allowing multiple companies to pose 3-5 questions they need answered quickly and accurately at a national level. Access to a nationally representative sample provides insights into the opinions and experiences of both your consumers and the broader population across the country.

No longer do you need to wait weeks or even months to find out how consumers feel about your brand, your advertising, or your new product. With Agile Research, you can get answers in just a few days.

Whether you need to test product ideas, evaluate brand awareness, or validate marketing campaigns, Agile Research provides accurate, reliable answers when you need them most. It’s time to make decisions with confidence, backed by real data.

Choose MKOR for Real Market Data on Your Consumers and Brand

Agility and empathy in business are our superpowers.

Schedule a meeting with us today for a customized study tailored to your organization’s specific research needs.

By asking 3-5 well-crafted questions, we can help you gain the insights you need to make strategic decisions, whether you’re:

  • Planning an impactful campaign, like Black Friday, or
  • Preparing to launch a new product or service that meets your consumers’ needs.

To learn more about this service, we invite you to join our intent list here.

We’re offering an advantageous proposal, and if you join the intent list, you’ll be among the first to receive full details on our launch offer.

Agile Research is a key piece in developing a long-term partnership with MKOR. You can be confident that we will help you gain relevant insights about your market and represent your brand’s strategic needs.