Market Research Consultancy (IBM409 / IBM499)
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A student team is presenting their research for a consulting project at a client's site
More than ever, businesses are turning to market research in order to identify opportunities during economic prosperity, or to save costs during recession. However, no matter how beneficial it might be, such research is costly, often costing companies hundreds of thousands of dollars. This is especially problematic for the small-to-medium-sized companies, and often they have to resort to their own hunch when making critical business decisions. To address the issue, the CBA BBRL has been proudly assisting these companies contributing to the development of the local economy.
How It Works:
At the BBRL, faculty and students work together with small- and medium-sized businesses and entrepreneurs to address the most pressing business needs through sound market research in two courses (IBM4092 / IBM4952) scheduled back to back (8 hours per week ). This combo class devotes entire class time to solove just one client's problems, doing all the qualitative and quantitative research, necessary to generate insights. The professors recruit students several months before the class starts, and select a small number (9 - 16) of the most qualified students (GPA = 3.0+). Prior to the classs, professors work closely with clients to understand clients' research needs and guides students throughout the class session. They are the contact persons for the client, and there are usually over a dozen meetings between the professors and client to address any issues before and during the class. Customer insights generated through the affordable market research will allow us to provide our client companies with actionable recommendations to solve their business problems.
Why You Should Consider Our Service (Benefits):
We provide a full range of research service from problem identification and exploratory research, to data collection, data analysis, and recommendation. Yet, we charge only a nominal fee. This is possible because professors are not paid separately; their consulting fees are covered by the university. Similarly, students are not separately paid; they are rewarded by the course credits and invaluable experience that enrich their education. We conduct the market research the way market research companies do at a fraction of the cost they would charge at a quality that is par with the professionals because the students are chosen selectively and work under the close supervision of the professors who have a track of research and consulting experience - and Dr. Jae Min Jung and Dr. Randy Stein. Plus, there is an added benefit. Research participants tend to be more receptive to the students researchers when they solicit participation, helping to gather high quality responses at a low cost.
Here are some of the companies we have consulted.
Our Consulting Capability:
- Industry and competitor analysis
- Market segment evaluation studies
- Target market determination
- Product concept testing with identification of market size, attitudes, purchase intention, and demands
- Feasibility studies for new products and services
- Market positioning research
- Customer satisfaction studies
- Advertising message testing
- Event exit surveys
- One-on-one interviews
- Telephone interviews
- Web-based surveys
The CBA Behavioral Business Research Lab has a state-of-the-art facility and equipment staffed by faculty and students from the nationally recognized Cal Poly Pomona, College of Business Administration program.
- Interview/conference room
- Internet connectivity
- 20 computers
- Qualtrics on-line survey platform
- Consumer panel with the millennials and booking system
- Software that allows presentation of various ads and capturing responses.
- SPSS, R, SAS
For questions regarding any aspect of service request or partnership opportunities, please contact: