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Market Research

TBK

Investigations

TBK Investigations, Strategies & Protection is a small but powerful investigation and security firm. Their key members have a combined 25 years of involvement with the Navy SEAL's which has allowed them to serve Law Firms, Corporations, Insurance Companies, and individuals in broad-sweeping surveillance, background verification, counter-fraud, accident reconstructions, and security/protection.

Client:

TBK Investigations, Strategies & Protection

Year:

2016

Service Offered:

Market Research Report, Price Analysis

project details

TBK Investigations, Strategies & Protection (TBK) needed a better grasp and understanding of the changes in their current market. So we proposed that they take advantage of our Marketing Research services to really get to know the changes in their target demographics and therefore find what might be getting in the way of their sales goals. TBK agreed that this was a smart way to go. After all, making decisions without the right information can be very frustrating and rarely yields results.

In response, we set up a digital survey and secured a panel of 100 respondents. The respondent’s demographics were males and females between the ages of 23 - 65+ with an income level of $25k to $500k+. The respondents, however, had to be working professionals or business owners in the southern Massachusetts area. We quickly discovered the problem through a pricing analysis that revealed that 95% of respondents felt the services were too expensive with 69% stating that the cost was justified and 26% stating the cost was unjustified. Justified and unjustified in this case means the cost was worth the value of the service or not worth the value of the service. That said, the Price Analysis revealed that there was an opportunity for our friends at TBK to both educate consumers on financing options as well as compete with competitors on pricing. This was a great opportunity for TBK Investigations, Strategies & Protection to find out what their audience really thinks and how they could appropriately respond to the market.

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