Carrying out marketing research is certainly important for every company that plans to occupy a separate niche in the market. It’s also important for organisations that are going to strengthen their authority in the eyes of consumers and competitors or to conduct market research… But this procedure requires a large resource costs. Not every enterprise can afford them!
Today there are two ways of analyzing the market: field and office. The so-called field method is a direct contact with potential consumers and finding out the opinions of people who participated in the study. It requires questionnaires, surveys and lots of additional information! And the data obtained as a result of marketing research needs to be analyzed, and it also comes at a price…
The office type of market analysis is the study of information from public sources: Internet resources, newspapers, magazines and books. This type of analysis allows to estimate the demand in the market relative to a particular product and the profitability of the production of a particular product or service… Based on the information received, you can also determine in what quantities it is recommended to produce products and how to «sell» them to potential buyers: what packaging design to choose, packaging type etc…
But we there is good reason to call our post “Modern marketing research and blockchain” — how these concepts are related to each other and how they can be useful to each other? It starts with the fact that “blockchain” is an innovative technology for the collection and storage of data. The unconditional advantage of using this system is that the information is not stored on any one server, but it is distributed to computers all over the world. That said, there are two types of data: available and private. Private data can only be used by the owner and the group of people to whom the owner has given access. At the time of logging in, a person can be anywhere in the world and he only needs to enter the encrypted key code from any computer connected to the Internet. Public information stored in «blockchain» chains can be used by any user who is connected to the system. Thus, using the data stored in blocks, it is possible to analyze giant amount of information in a short period of time.
In other words, the use of «blockchain» technology will largely reform the market for marketing services and will make the research practice not only quick, but also affordable. At the same time, the customer company will be able to obtain the most up-to-date and reliable information.
By the way, there are many examples of successfully conducted marketing research using “blockchain”, which were proved to be effective. IT companies continuously release new and new algorithms to improve data collection and implement “blockchain” in all areas of the external and internal market, but FASTR went further — we want to reform the market for marketing research, creating a fundamentally new tool — an international service for conducting surveys, created on the basis of blockchain technology, and therefore — the most secure, reliable and transparent. As a result, marketing agencies will receive a tool for conducting fast, accurate and inexpensive research, respondents receive remuneration for answering questions, and project investors receive income, because the market for market research today is $42 billion, of which $2 billion is mobile surveys …
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