Market Research is typically a study where the primary objective is to understand specific aspects of our client’s market:

CSP helps clients understand where they “fit” in the competitive landscape in their trade area. These studies involve representative random samples from the area(s) in question structured so as to represent the total marketplace. Typical areas of questioning address such topics as unaided and aided awareness positioning and familiarity, preferences if a product change has been made, image of the client versus competition across a series of attributes, loyalty and advocacy measures for the client versus key competitive customer bases, general advertising visibility and understanding all of the above for key demographic segments.

CSP’s Commercial Account Prospecting (CAP) product identifies and interviews business owners based on parameters set by our client and develops a customized database of commercial prospects complete with a detailed profile of the banking needs. This product increases efficiency and effectiveness of new business acquisitions by allowing selling and marketing efforts to be focused on that small segment of the total market with the best chance to seriously consider your organization now.

The main objective of this study is to produce a statistically significant sample of random consumers within a client’s two or three primary market areas who will provide objective feedback on attitudes and behaviors towards their particular needs as they relate to the client’s products and services; as well as a competitive view of our client's two or three main competitors within those markets. Our clients gain a comprehensive understanding of how they compare and contrast to their competition in targeted markets as well as new intelligence about their main competition.

As our clients are considering launching a new product or service, or a slight change to an existing product or service, we can measure the potential interest for that particular product or service; establish price point sensitivity; measure the ability to pull new business for the offering; describe the characteristics of the target market(s) for the offering; and identify the most compelling selling points or issues that might limit interest for the product or service. This type of study could be market wide or could focus on just a specific target market depending on the nature of the offering.