Audience who attended the session
In today’s fast paced and ever evolving business environment, accurate, valid and relevant market research is one of the most important tools for any enterprise that wishes to achieve sustainable growth. Addressing this vital topic
, The Capital Club, Dubai’s premier private business club and member of the ENSHAA group of companies, in collaboration with the business networking organization Fit For Business, welcomed Ali Draycott, Commercial Director of the international research consultancy YouGov, to talk about the role that market and customer research can play in the development of an existing business or proposed new venture.
Speaking about the event, Emma Cullen, The Capital Club’s General Manager, commented, “Dubai is known across the world for being a place where business dreams become a reality. There are few cities in the world that can rival Dubai in terms of innovative start-ups that have grown to become regional and even international success stories, yet doing business in this region is not without its pitfalls. Accessing accurate information on which to build business strategy, plan future expansion, and identify gaps in the market can be a difficult undertaking in the GCC region. This talk was an excellent opportunity for our Members to get some invaluable insight into the how’s, why’s, when’s and where’s of doing market research in this region from one of Dubai’s foremost experts in the field.”
Emma went on to remark that this event formed part of The Capital Club’s regular series of business related events aimed at providing The Club’s Members with valuable tools and opportunities to help their businesses grow and expand.
Liam Mooney, Founder of Fit for Business commented “We are delighted that the Capital Club is hosting our business networking talks. Fit for Business is committed to getting corporates into “shape” by providing the information, tools and services that any organisation needs to increase their efficiency and profitability.
Knowledge is key and the Capital Club as the premier Business Club in the UAE is the perfect venue. We also carry a very important message which is to empower business people and our youngsters with strong role models from sport and business to shape the future of the country.”
The talk saw Ms Draycott give an overview of the basic fundamentals of feasibility studies and the different types of research that can add value and rigor to the assessment of business or customer opportunities. In addition, she also provided a number of useful hints and tips about how to carry out research in the MENA region and outlined what is considered to be best practice in the region.
Among the many helpful tips Ms Draycott shared was the importance of clear communication when engaging in market research, especially when working with a research agency. “You have to know what it is that you want. The clearer and more specifically formulated your brief is when communicating with a research agency, the better the chances are that the research takes the correct direction and that the insight that is delivered is relevant and actionable. You also need to make sure that your researchers really understood what it is that you meant. Although this seems like a small point, miscommunication happens all too often and can be extremely costly in the long run,” she emphasized.
Furthermore she pointed out the need to strategise ahead of time to ensure that the type of data that is collected fits your requirements, remarking that seeking expert help is one of the most vital steps when conducting research, as the process can be complex.