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EuroDirect is part of the Callcredit Information Group alongside GMAP Consulting, Callcredit, Legatio, DecisionMetrics & Broadsystem
Using Market Research Data For Understanding Customer Expenditure & Market Size
Throughout the UK, a number of companies perform Market Research on consumer behaviour in terms of their purchase, consumption and usage of a wide range of products, services and brands. To do this research they survey specially selected panels of consumers, which are demographically and regionally balanced to offer a representative picture of the GB marketplace.
Surveys are wide-ranging, spanning from the purchase of groceries through to clothing, financial products, domestic appliances and home furnishings. However, this information on its own is difficult to apply to your market. We use market research data from the wide range of companies and survey panels listed below to build ‘consumer spend estimates’, ‘demand estimates’ or ‘estimates of market size’ as some people call them. These are essentially estimates of average spend or demand for any product or service within a specified area.
1. Target Group Index from BMRB
2. MORI Financial Services (MFS) from MORI
3. Expenditure and Food Survey (EFS) from the ONS
The different types of consumer activity surveyed by each of the market research panels are detailed below.
Optimising Market Research Within MICROVISION Market Maker
- EuroDirect will supply national demand estimates for any market research profile.
- Easily imported into MICROVISION Market Maker, they can be displayed as a themed maps at post sector, post district or post area level enabling users to visualise market demand for any product or service on either a local or national scale.
- By highlighting hot spots of consumer spend, and perhaps adding competitor site data and your own sales data to MICROVISION, this intelligence can be used to identify new sites for store location, setting sales targets or highlighting areas where sales potential could be assisted.
- Market research data can also be used within other MICROVISION modules or can be used to assist consultancy in any of the following areas of expertise:
- New Market analysis
- Competitor Analysis
- Customer Benchmarking
- Market Size & Distribution
- Market Potential Analysis
- Catchment Analysis
- Store Location Analysis
- Brand/Product Development & Placement
Target Group Index (TGI) from BMRB
TGI is a continuous general consumer survey, which has been carried out in Great Britain every year since 1969. The survey is carried out over circa. 25,000 respondents aged over 15 years and covers over 4,000 brands, 500 product/service fields and 200 publications. It covers a wealth of products and brands including:
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| CAMEO UK profiles of all the questions are readily available providing excellent insight into an overall market, by brand and specific product line. | |
MORI Financial Services (MFS)
The MORI Financial Services survey is a comprehensive financial survey covering a multitude of financial products, services & brands. Surveying circa 48,000 consumers per annum, this survey collects and provides a wealth of information on the personal finance market. It is used extensively within the financial services industry and is seen as a unique reference for understanding consumer attitudes to the Finance industry. The survey covers a range of key product areas including:
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Survey measures include: product ownership and acquisition, brand performance, value of holdings, flow of funds, channel usage and method of arrangement, loyalty, share of wallet and customer satisfaction. It also covers a wide range of attitudinal information such as why consumers choose certain products, services and brands and what influences their purchasing patterns.
CAMEO profiles against either of these surveys provide an excellent insight into the Financial market by brand and product and the data provided can be utilised for a range of marketing and strategic planning activities.
Expenditure and Food Survey (EFS) from the Office of National Statistics (ONS)
The EFS is a continuous survey conducted by the Office for National Statistics and provides a comprehensive overview of all aspects of household expenditure and income derived from the Expenditure and Food Survey of around 7,000 UK households. It provides detailed analysis of household expenditure broken down by age, income, composition, socio-economic characteristics and geography. The result is one of the most accurate pictures available of what households in the UK spend their money on today.
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* Available for an additional license