Market Research: A Financial Director perspective
Nuala Meaney is the Financial Director of Arema Connect and we picked her brain about market research and its importance in everyday business. Here is what Nuala said:
Please explain your experience with Market Research?
My experience in Market Research is related to my finance position and my background as an entrepreneur.
I set up Key Answering System t/a Arema Connect with Pat Keogh (MD) in 2001. Before founding our contact centre we performed in-depth market research to asses the feasibility of the project and to analyse the costs and benefits of the same.
Our analysis helped us to make smarter decisions and invest in better solutions within our budget. The success of our venture is clearly visible, we are employing over 40 staff members and providing Market Research and Contact Centre services to our clients.
From a financial point of view, I have over 20 years experience analysing businesses and assessing their viability and reliance through credit score checks and account reviews.
I perform yearly analysis on our current suppliers and compare their offering against their competitors. This allows our company to remain highly competitive in selecting the suppliers best matched to our requirements in terms of quality & budget. I also assist the marketing and sales department to research our competitor prices in order to create our price list. Furthermore, I had a key input to our cost analysis research in order to export our services to UK, USA and Australia.
Define “market research ” in 10 words?
Market Research is: the analysis of the market offerings in order to make cost saving decisions.
Why market research is important in your job?
Market Research is really important for any finance department. It allows Finance Managers to stretch their budgets, assess situations and invest in the best solutions possible. Market Research can be the difference between spending a lot of money on a bad idea or succeeding in your business.
At the end of the day my duties are to ensure that staff payroll, suppliers costs and internal cost are covered while giving maximum benefit to the stakeholders. Market Research allows me to achieve this goal through staff performance analysis, supplier reviews and cost analysis.
Explain why you would outsource your market research requirements to Arema Connect?
A Market Research agency with an in-house Contact Centre is a cost saving approach to research.
For more information please contact us, Call us now at +44289 57 57 275 (UK) / +35321 482 4300 or email firstname.lastname@example.org to discuss your requirements with us.
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