When it comes to conducting market research, businesses have two options: outsource or do it in-house. Both options have their own advantages and disadvantages, and the best choice for your business will depend on your specific needs and circumstances. Below are 7 aspects when comparing these 2 options. Outsourcing Market Research Pros: Costs: Outsourcing market…
Malaysia is inching closer to becoming the first country in South-East Asia to impose widespread curbs on short-stay rentals like Airbnb. This move comes after one of its most popular holiday hotspots, Penang Island, restricted such accommodation due to unruly tourists. The nation had been looking into regulating short-term rentals for several years due to…
Optimizing costs for operations, especially for market research, is always one of the top concerns in businesses. Finding a way to balance between efficient spending and receiving quality work is not a simple task. Businesses need to have insights into the types and phases of market research, factors affecting cost, and choose reliable travel market…
Marketing budgets in recent years have been glooming due to the effects of pandemics, high inflation or supply chain disruptions. However, the spending on market research shows a completely different picture with growth recorded. COVID-19 is the barrier but also the momentum While overall budget growth may have slowed, the market research budget performed well.…
Research is an important activity that leads to operation and product improvements, planning as well as market expansion for the business. In recent years, investment in market research has increased significantly in large enterprises in many industries, including tourism, when they realize the benefits of this activity. Why is market research important? Market research helps…
Tourism and travel are one of the major economic development engines of many countries around the world. Vietnam has also been determined to turn tourism into a spearhead industry in recent years. However, the pandemic and socio-economic changes have made the tourism industry increasingly complex and unpredictable. Therefore, many businesses are utilizing market research to…
After rebranding, in addition to continuing to release market research reports, The Outbox Company develops a series of multi-dimensional research solutions for the travel and hospitality industry. Our latest solution, Vietnam Travel Market Tracker, is the only specialized travel market tracking solution that provides insights directly from Vietnamese travelers on the domestic and outbound sectors.…
In business, it is very important to grasp and respond to significant changes in the market and consumers in a timely manner. A visible example is during and after the COVID-19 pandemic, under travel restrictions, online services and delivery boom. In addition, people become more aware and concerned about their health. Their purchasing habits, behaviors,…
The Outbox Company always tries to forecast based on data and insight, instead of just watching, feeling and judging. However, in some cases, observation also helps much for market research and evaluation. For instance, when you ask someone how they make a cup of coffee, they will list main steps. But if you watch them,…
Questionnaires play an important role in the data collection methodology, allowing responses to be recorded in a consistent manner to facilitate data analysis. As a market research company, The Outbox Company really cares about questionnaire design. We always try to send respondents the most concise, easy to understand and coherent questionnaire to get the expected…