Whether you are trying to improve your existing business or launch a new killer product or service, market research should be your foremost priority.
Without market research, you are basically making your moves in the dark, basing your business strategy off intuition, the limited data you have and what you think the customers want…
Unfortunately that is rarely accurate or comprehensive, hence the need for market research.
Well as the name suggests, it’s research into your target market or customers, a data gathering process which enables analysis to generate crucial insights that will guide your business, marketing or product strategy.
There are various kinds of market research you can do ranging from target customer / market analysis, market competition research, pricing studies to brand surveys and many more.
All of these research types has the same process of:
Sounds complicated? Don’t worry, that’s what market research agencies are here to help you with.
They provide the proper methodologies, channels, data sources and people to ensure that you receive the most accurate, up-to-date and timely market data and analysis to make the best informed business decisions in time.
Do note that some agencies specialise in market data collection and analysis and insightful decision-making is expected on your part as compared to other full-service agencies who provide end-to-end consulting.
Simply put, it is the difference between calculated risks and gambling.
Any business decision comes with significant risks, and whether your business succeeds or not depends on a series of internal decisions and external factors.
Market research informs you about the external factors (market, customers, laws and regulations, competitors, trends, etc.) , so that your internal decisions can take them into consideration.
Without that information, decision making becomes the equivalent of taking a shot in the dark.
While you can and should do your own market research, it is often a time-consuming and difficult process that your business may not have the right resources to perform.
Even when you do, the results may vary or cost more in time or resources as compared to professional agencies due to their expertise, proprietary data, ready audiences and economies of scale.
Hence these are some of our top recommendations for market research companies in Singapore in no order of merit.
Acorn is the largest independent Asian research network with full service offices in 11 Asian countries having over 30 years of market research company experience. They pride themselves as deep generalists in the Asian market, covering every market research field and type with the singular belief of helping their clients understand consumers.
Their services include:
Telephone: (65) 6733 6565
Email: singapore@acornasia.com
Website: https://www.acornasia.com/
various industries— Retail, Education, Manufacturing, Healthcare, Real Estate, Tourism and Service Industries. They focus on providing market research and intelligence reports for both local and international businesses in the Singapore and ASEAN market. They believe that no two businesses are the same and thus customise services based on the individual business needs.Apeiron is a Singapore based consulting agency with more than 15 years of experience across
Their services include:
Telephone: (65) 6909 7482
Email: info@apeiron.sg
Website: https://apeiron.sg/
Blackbox Research is a leading independent research-centered agency in Singapore. The agency is known for its observations and commentaries on community trends in Singapore and South East Asia and its expertise in social communications and messaging.
Their services include:
Telephone: (65) 6323 1351
Email: enquiries@blackbox.com.sg
Website: https://blackbox.com.sg/
An S&P 500 company, Nielsen is one of the most influential consumer and markets research companies globally and they have been based in Singapore since 1971. Their market research combines both proprietary Nielsen data and other data sources to help their clients understand what’s happening now, what’s happening next, and how to best act on this knowledge in over 100 countries covering over 90% of the world’s population.
Their services include:
Telephone: (65) 6672 6600
Email: Not listed.
Website: https://www.nielsen.com/sg/en/
Axanteus Research is a full-service independent market research firm based in Singapore covering most countries of Asia-Pacific. They provide a one-stop solution for market data, consultancy, and affordable research services across a wide array of industries.
Their services include:
Telephone: (65) 6332 6888
Email: contact@axanteusresearch.com
Website: http://axanteusresearch.com/
Joshua Research Consultants is an award-winning and fast-growing company with offices in Asia Pacific — Singapore, Malaysia and China. They focus on data collection services helping clients to gather insightful information to drive better, faster and more effective business decisions in Asia Pacific.
Their services include:
Telephone: (65) 6876 7077
Email: info@joshuaresearch.com
Website: https://www.joshuaresearch.com/
Started in Jakarta in 1997, they are now headquartered in Singapore with offices in Indonesia, Malaysia, Thailand, Vietnam and Philippines. They serve both local clients as well as international companies looking for multi country project management across APAC.
Their services include:
Telephone: (65) 6338 4780
Email: hello@insightasia.com
Website: https://insightasia.com/
Media Research Consultants is an ISO-certified full-service consumer research consultancy affiliated with Mediacorp. They have helped some of Singapore’s best-known brands and government agencies discover deeper insights into their consumers for over 30 years.
Their services include:
Telephone: (65) 6255 7484
Email: info@mrconsultants.sg
Website: https://www.mrconsultants.sg/
Ipsos is an international market research giant founded in France in 1975 and is the 3rd largest market research firm worldwide. The firm has had an office in Singapore since 1995, and in 90 other countries, with over 18,000 professionals on their team servicing over 5000 clients. They believe clients need more than a data supplier, they need a partner who can produce accurate and relevant information and turn it into actionable truth.
Their services include:
Telephone: (65) 6887 2434
Email: ipsos.sg@ipsos.com
Website: http://www.ipsos.com.sg/
InVeritas Research is a global full service quantitative and qualitative market research fieldwork company providing high quality data collection and market research services in Singapore since 2009. They specialise in reaching out to difficult to reach audiences and quality data collection across multiple geographies, industries and cultures.
Their services include:
Telephone: (65) 6909 7482
Email: info@inveritasresearch.com
Website: http://inveritasresearch.com
Choosing the right market research company for your market research needs is essential as every agency has different expertise — be it in terms of service offerings or niches.
While it is often tempting to go for the cheapest or the most comprehensive and convenient agency, they may not be able to generate the same level of insights and list of research services as a specialised market research agency.
Of course, as a small business you may also want to consider first trying self-service tools like Google Keyword Planner, Facebook Audience Insights and similar for your market research.
