Market Research Tools

ITMS Offers

 

Tools that ITMS uses to help you understand your market

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QUANDRANT ANALYSIS

 

 

The Quadrant analysis chart combines the importance of attributes (vertical scale) and your business's performance scores (horizontal scale) relative to a chosen reference product (or average of all products). There is tremendous value in the use of this technique as it relates to product positioning.

 

 

ITMS would use this tool to:

 

  • Position your product to maximize your companies strenghths while taking advantage of your competitor's weaknesses

FACTOR ANALYSIS

 

Factor analysis is related to principal component analysis (PCA), used to lower the number of unobserved, uncorrelated variables called factors during purchasing decisions.

 

 

ITMS would use this tool to:

 

  • Examine the relationships between factors your customers use to distinguish between your services and your competitor's

 

  • Identify those factors that are most often used by your clients to identify your services

 

  • Extract factors that are independent from other factors

CLUSTER ANALYSIS

 

 

Cluster analysis is a class of statistical techniques that can be applied to data that exhibit “natural” groupings. A cluster is a group of relatively homogeneous cases or observations that can be used to generate marketing decisions.

 

 

ITMS would use this tool to:

 

  • Partition your consumers into market segments and to better understand the relationships between the different groups 

 

  • Identify and market to customers in the same group (called a clustrs) to streamline your messaging

 

  • Describe and to make spatial and temporal comparisons of your customers

DISCRIMINATE ANALYSIS

 

Linear discriminate analysis (LDA) is a method used to which also attempt to express one dependent variable as a linear combination of other features or measurements.

 

 

ITMS would use this tool to:

 

  • Determine the factors which distinguish different types of customers and/or products

 

  • Identify the salient attributes consumers use to evaluate the products that your company offers