Custom
Research
Our Approach to Market Research
Why is Stratus the best choice for custom research solutions?
Quantitative Research
In order to provide a statistically accurate view of a market, Stratus delivers studies with a large number of representative survey respondents.
Qualitative Research
Sometimes you’ll need to know more about the underlying attitudes and beliefs of your customers. We dig into why farmers and ag retailers make the decisions they do each day for their operation.
Our Market Research Expertise
Choosing the right study methodology is critical to the success of any research project. Together, we’ll determine the right survey type — blending components from study types if necessary — to deliver what you need to make decisions.
Here’s how we will set you up for success:
- We work with you to make sure the objectives are clearly defined upfront.
- Then we consider if qualitative, quantitative, or a combination of both is the best approach.
- If qualitative, we ask: do we want individual opinions through in-depth interviews or focus groups?
- If quantitative, we ask: what statistical approach is required?
Our leading statistical methods include:
- Discrete Choice experiments for determining optimum price points/uptake modeling;
- Maximum Difference Scaling to measure attribute importance;
- Correlation Analysis to identify characteristics associated with preference;
- And Latent Class Analysis for segmentation work, we ask: what statistical approach is required?
Brand Perceptions
OUR APPROACH
- Critical performance characteristics are identified from our experience, discussions with you and, if necessary, using qualitative research.
- Key competitors are identified through discussion with your organization.
- Maximum Difference Scaling is used to understand the importance of each characteristic.
- Customers (and sometimes potential customers) are invited to participate in an online survey.
- Participants are screened based on their experience. Those with the right profile provide ratings of the relevant products, services, or companies.
- Correlation analysis is used to identify those factors that are most closely associated with overall performance.
- Data is presented using clear visuals that illustrate your performance vs. your competitors.
- The strategic importance of each characteristic is illustrated.
BENEFITS OF BRAND PERCEPTION
- Construct brand positioning that resonates with customers and differentiates from competitors.
- Focus communications on the product characteristics that really matter.
- Identify opportunities to improve how customers see your brand.
Concept Testing
OUR APPROACH
- A list of potential features and benefits is developed from the market knowledge we have. Qualitative research can also be used, if needed.
- Maximum Difference Scaling is included to understand the relative importance of the features and benefits.
- Relevant competitors/alternatives are included in the study design.
- The new concept is described to participants through a series of charts and images. The goal is to inform participants about the new concept in a completely balanced way.
- If the cost is known, participants are informed. If the cost has not been established, we will recommend a pricing and uptake study.
- Participants tell us what they like and dislike about the concept.
- Participants rate the concept against the competitive offers they know.
- In a variety of ways, interest in the new concept is measured.
- Data is presented in a way that clearly illustrates the perceived strengths and weaknesses of the new concept compared to existing alternatives.
- Ways to improve the concept design are identified.
BENEFITS OF CONCEPT TESTING
- Adjust the concept design based on market knowledge.
- Build the new concept story around the features and benefits most important to customers.
- Identify opportunities to effectively differentiate from competitors.
- Target the most receptive customers.
Segmentation
OUR APPROACH
- We start by understanding your needs for a market segmentation. How a segmentation will be used within an organization and the requirements for activating it are as important as determining the factors on which you wish to derive the segmentation.
- Our typical approach to segmentation is to first understand the differences in customer behaviours and then overlay demographics to profile the segments.
- We work together with you to determine the behaviours that are most relevant to their business case to differentiate on.
- A segmentation project may be limited to a single topic and used as a means to add greater understanding.
- More robust segmentation models can be used to develop customer portraits that an entire organization can buy in to as a means of developing a deeper connection with their customers.
BENEFITS OF SEGMENTATION
- Develop improved marketing campaigns that resonate with your customers.
- Activate the sales organization by clearly articulating the fit and matter of your product portfolio and the unique needs of your customers.
- Direct resources for future product development based on a deeper level of understanding of your customers unique needs.
Agronomic Practices & Attitudes
OUR APPROACH
- We start by making sure we have clearly defined the range of practices that farmers use, and the underlying reasons for those decisions.
- Usually, the pooled knowledge between Stratus and your organization generates the range of on-farm behaviors. However, this could also require discussions with technical experts or qualitative research with farmers.
- Often, we explore challenges that farmers face with existing practices. The questionnaire is designed to make agronomic sense to participants.
- Findings are usually quantified and extrapolated to the universe, for example percent of total crop acres that use a particular practice.
- Data is summarized and presented in charts. In some cases, Excel pivot tables are provided to enable you to filter the data for specific criteria.
BENEFITS OF AGRONOMIC PRACTICES & ATTITUDES RESEARCH
- Monitor changing agronomic practices.
- Identify pain points in farmer production practices.
- Plan their research and development program.
- Identify new opportunities.
Our Areas Of Expertise
Ag Retail
Biologicals
Crop Protection
Farm Management Software
Fertilizer
Financial
Grain Marketing
Grain Storage Equipment
Livestock
Nitrogen Stabilizers
Precision Ag
Seed
Ag Equipment
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Case Studies
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Pricing a new herbicide to maximize profitability across the product line.
Herbicide markets are crowded and highly segmented. Our client had two successful brands in soybeans and wanted to launch a third, but at a price that would improve overall profits.
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Understanding Trends in Soybean Herbicide Programs
The US soybean herbicide market had seen rapid changes in recent years with the shift to dicamba tolerant varieties and then to 2,4-D tolerant varieties. Our client wanted to understand…
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Benchmarking Beneficial Insects in Alberta
Understanding of the role and value of beneficial insects as part of an integrated pest management plan is still a relatively underutilized agricultural practice in Western Canada.
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Factors Influencing the Use of Insecticide Seed Treatments in Corn and Soybeans (Eastern Canada)
Our client was interested in learning more about how growers make decisions related to using insecticide seed treatments and what the key factors are that contribute to those decisions.
