Question

What are the specific advantages and disadvantages of Lab42 over traditional market research? 2. If you were a marketer for a company/product/brand, how would you apply/use the facilities of Lab42? Describe with an imaginary example/scenario.

Answer 1

Lab42 Advantages :

• Excellent analytical data and info graphic form kf representation
• Lucid understanding of analysis
• Mix of qualitative and quantitative data research
• Competition analysis
• Consumer pulse and preferences shared more briefly

Disadvantage :

• High cost of research
• Time for analysis comparatively higher
• Lack of experience for high net worth clients

As a marketer, Lab42 services comes of extreme use when launching new products where market segment and consumer preference is untested and when competitors weakness and strengths are not known in particular geographical area. This is where Lab42 incorporates analysis and consuner insights and demands using info graphic which is easy to understand and stimulate and can be immediately incorporated as strategy thereby reducing time to market and boost sales.