Introduction
Organizations providing marketing research services are becoming prominent in the worldwide corporate sector. Particularly in the United Kingdom (UK), these firms are operating actively in every possible industry and assisting organizations to meet market requirements. Among innumerable research firms, the two prominent and trusted entities are Taylor Nelson Sofres (TNS) Global and Kantar Group. These research firms use various tools and techniques, and provide services that enhance the decision-making process and productivity of the organizations. Besides the benefits of utilizing these firms, some reasons still discourage organizations to hire and deploy these firms within the work facility. This paper aims to evaluate both aspects, which are advantages and disadvantages, of hiring the research firms within the organization. In personal view, hiring a research firm is effective in decision-making since the entities such as TNS Global and Kantar Group are specialists.
Main Body
Tools and Services
Research firms are equipped with a range of tools and expertise that the clients avail as per the requirement. The tools and application techniques are systematic in nature and tailored according to requirements of each client. Discussing the offer to clients, TNS Global claims to understand problems related to market and encountered by corporations constantly. The company provides expert solutions to clients and market insights, which help them to make sound and justified decisions. The solutions provided by TNS Global mainly depends on four dimensions namely expertise, sector, growth-related challenges, and application of research tools. In context to the research tools, TNS Global uses NeedScope, TRI*M, Value Manager, and Conversion Model (TNS, 2016).
On the contrary, Kantar Group conducts research for clients in order to improvise brand positioning, brand differentiation, value added services, and forecasting related to growth and competition. Conducting market research through technological and informative techniques are few unique selling points (USPs) of the Kantar Group. The company uses various statistical tools, customer relationship management (CRM) software, and social media platforms in order to provide feasibility of market conditions. Besides the research tools, the company is collaborated with entities such as BPRI Group, Dynamic Logic, and Neuroscience Practice that provide B2B research, digital marketing research, and medical research to clients respectively (Kantar, 2016).
Benefits of Utilizing Research Firms
Today, the corporations have a significant need of research in order to acknowledge changing dynamics of the market and understand current industrial standing. Within the resource allocation, expertise in conducting the research activities related to market is another complex consideration. Utilizing the market research organizations such as TNS Global would bring efficiency in research activities along with a potential synergy impact in results and implications. Corporations would be able to assess their position and respond to market changes accordingly. Moreover, the market research firms are experts in their work, which signifies the least deviation from the core purpose of conducting research (Aspili, 2013).
Unbiased outcomes of results are another significance of utilizing market research firms. The market research firm acts as a third party during the entire process, which makes them honest and neutral in their conducts. They are not compelled to provide one-sided insights to clients. Instead, the research firms are hired to identify negative aspects and evaluate the potential damage to brand positioning and existence in the market.
Market research firms such Kantar Group and TNS Global help corporations in saving time and related resources throughout the process of conduct. As previously stated, organizations have limited and/or scarce resources in order to achieve short and long-term objectives. Utilizing market research firms would allow companies to save time and focus on other dimensions of market and business simultaneously. The hired collaborates would provide resourceful data in a systematic manner, which will act and implement as a solution (Chand, 2015).
The Other Side of Utilization – In-House Facility
Besides the advantages and resourceful implications, while making corporate strategy, outsourcing research activities are still opposed by innumerable organizations. First, research firms such TNS Global and Kantar Group are prominent entities with the diverse cliental portfolio. Companies tend to believe that such entities have busy schedules, which would influence the adequacy of focus and time. Companies with such perception do not consider the results are reliable and prefer utilization of in-house research resources rather outsourcing.
Nevertheless, the major reason for saving money and utilizing in-house research facility is ‘control factor’. Companies that outsource market research to Kantar Group and TNS Global do not have adequate regulation and control over the activities. They cannot direct the hired service providers according to their desirability, which resists the companies to outsource the specific operation.
Moreover, the companies prefer building internal teams and research portfolios to improve industrial positioning and affiliations. Effective in-house research team means career building, employee promotion, the quality hiring of talent, an increase in number of departments, etc. Outsourcing the activity would restrict the companies to avail such recognitions and accomplishments that have the potential to approach strong collaborates and corporate partners. Hence, in-house utilization of research facility is more preferred rather risking time, money, and control simultaneously. Lastly, in-house research facility and resources would allow most companies to develop a hybrid model and retain service providers such as Kantar Group when required.
Common Tools – Uncommon Expertise
Fault Tree Analysis (FTA)
FTA would allow businesses to evaluate hazards both internally and externally, which could be aligned with long run strategic decisions. Without any potential complications, the companies could forecast adverse market events and take steps in order to minimize encounter with consequences.
Google Insights
Google Insights would provide information to businesses that can assist in regulating successful marketing campaigns. The tool would provide hottest market trends that are popular with mass market and appropriate target audience. Moreover, Google Insight would specify keywords that companies should use in order to appeal target audience and mold their perceptions for strong adaptability. Lastly, this tool would minimize time consumption in conducting research since resourceful websites are synchronized automatically.
Statistical Package for the Social Sciences (SPSS)
SPSS is software that has a wide range of techniques and tests in order to evaluate multiple variables. Companies can utilize this tool during in-house research activities without deploying mass resources. Further, SPSS would allow companies to manage their data in effective and efficient manner. The tool would guide the companies to optimize their output and make decisions related to production and resource allocation.
Conclusion
The comparison analysis of techniques and tools offered by research groups such as Kantar Group and TNS Global signify the needs for an organization today. It cannot be denied that organizations can build an in-house facility to utilize these techniques. However, they need to employ equivalent talents to run such tools. Instead of hiring and allocating the resources, organizations are suggested to hire the experts such as market research firms in order to attain desirable results with time and cost efficiency.
References
Aspili, A. (2013). The Advantages of Outsourcing Market Research. Business 2 Community. Retrieved 13 August 2016, from http://www.business2community.com/marketing/the-advantages-of-outsourcing-market-research-0393268#vFsZCdUxlJtCqwxp.97
Chand, S. (2015). Marketing Research: Concept, Objective, Advantages and Limitations. YourArticleLibrary.com: The Next Generation Library. Retrieved 13 August 2016, from http://www.yourarticlelibrary.com/marketing/marketing-research-concept-objective-advantages-and-limitations/22286/
Kantar Group,. (2016). Research, data and insight consultancy | Kantar | Kantar. Research, data and insight consultancy | Kantar | Kantar. Retrieved 13 August 2016, from http://www.kantar.com/
TNS Global,. (2016). TNS Global market research company | What we do. Tnsglobal.com. Retrieved 13 August 2016, from http://www.tnsglobal.com/what-we-do
