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Like many other industries, industrial companies have witnessed increased globalization, consolidation, and rationalization of marginal players. In addition, there are trends specific to industrial markets that continue to impact the industry: labor-intensive production moving to low cost centers, increased emphasis on improving and integrating supplier and customer relationships, and adoption of new technologies and business models that are essential for success. Our Industrial Markets team is well versed in these issues and addresses them as we work on behalf of our clients every day, across the globe.

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The strategic role of market research in mergers and acquisitions.

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Amaan Kazi is the CEO of Verified Market Research , a global market research & consulting firm focused on niche & emerging markets.

What’s the one thing you do before making a big purchase? Before buying a house, a car or even a pricey gadget? You research. You watch videos, read articles, scroll through reviews, speak with friends and family.

That’s what we do as consumers to dodge the regret of a bad decision—a decision that could set us back years. Ever wonder what businesses do in similar high-stakes situations like mergers and acquisitions (M&A)? The answer is the same: Market research.

Just like you don’t buy a car without checking under the hood, businesses leverage market research to extrapolate insights that go beyond ticking boxes. Especially when it comes to mergers and acquisitions, this research can uncover crucial information.

1. Identifying Prospects

A filmmaker selects locations that enhance the storytelling of their film; they consider each location's unique characteristics, accessibility and how well it fits into the film’s narrative and aesthetic needs. Similarly, as a business, the first step in a successful merger/acquisition deal is identifying the right companies that not only complement strengths but also offset weaknesses, noting unique assets that have a strategic fit to your capabilities.

Case in point: When Amazon bought Whole Foods , it wasn’t just buying a company. Amazon acquired an established grocery chain with an affluent, health-conscious customer base and strong urban and suburban presence. Detailed market research highlighted Whole Foods’ alignment with trends in organic products, supply chain synergies and potential for technological integration.

This strategic fit, combined with Amazon’s technological prowess, enabled them to enhance customer experiences, optimize operations and effectively compete in the grocery sector, ultimately reinventing grocery logistics.

Here's the essential check-list to determine your potential acquisition targets:

• Customer demographics and behaviors

• Market position and brand reputation

• Financial health and performance

• Operational efficiency and supply chain/distribution

• Technological capabilities

• Human capital and corporate culture

• Regulatory and compliance status

2. Matching Interests

Take the process of choosing a life partner in marriage, for example. Besides the initial attraction, a deeper evaluation of compatibility in values, life goals and personalities plays a key role in deciding a fit. Both parties look for a partnership that will bring mutual benefits, support growth and enhance each other’s lives.

This is similar to how companies assess cultural fit, leadership vision and business model compatibility in potential mergers or acquisitions.

We can learn from history: The Daimler-Benz and Chrysler merger of 1998 promised a global auto empire. Instead, clashing German-American corporate cultures created a roadmap to disaster. A deeper dive into their cultural compatibilities might have shown red flags early on.

Here's how to leverage market research to hopefully avoid this kind of disaster:

• Make human capital and corporate culture assessments. Conduct employee surveys and interviews to gather insights into the corporate cultures of both companies.

• Identify synergies and gaps. Use focus groups to explore cultural similarities and differences, fostering open dialogue and understanding.

• Develop a cultural integration plan. Organize joint cultural workshops to create a detailed plan for integrating teams and aligning corporate values.

• Monitor and adjust your integration plan: Establish feedback mechanisms such as surveys and focus groups to continuously monitor your integration process and make necessary adjustments.

3. Foresight

Knowing the weather ahead can make or break your road trip. Before setting out, you don't only check the weather for the day you leave, but for every leg of your journey, adjusting your route to avoid potential storms and capitalize on clear skies.

Similarly, in the world of mergers and acquisitions, foresight is the ability to understand not only how a potential acquisition fits with your current operations but also how it will synergize and evolve within your industry's future landscape.

One illustrative example: Microsoft’s acquisition of LinkedIn was a game-changer and strategic masterstroke. They didn’t just see LinkedIn as a professional network; they recognized the platform’s potential as a pivotal element in the future of work. Beyond adding a new asset, it strategically positioned Microsoft at the forefront of professional networking, enhancing its existing suite of productivity tools in a digital-first professional environment.

Here are some methods to predict acquisition fit and avoid common pitfalls:

• Scenario planning. Anticipate performance under future conditions.

• SWOT analysis. Understand strengths, weaknesses, opportunities and threats.

• Technology assessment. Align with future tech trends.

• Market trend analysis. Position your company in the future market.

• Competitive analysis. Assess market positioning relative to competitors.

• PESTLE analysis. PESTLE stands for political, economic, sociological, technological, legal and environmental. This type of analysis can help you evaluate macro-environmental factors impacting operations.

By addressing these points, companies can leverage foresight in their M&A strategies, helping to ensure successful integration and long-term synergy.

How Research Can Lead To An M&A

A few years ago, a client of ours sought insights on a niche market they planned on expanding into. The research report we delivered not only provided them with a comprehensive analysis of key segments of the market but also highlighted underexploited synergies with a competitor.

Fast forward a couple of months, the two companies, initially competitive in nature, gradually shifted toward collaborative opportunities that capitalized on both their strengths while also covering for each other’s weaknesses. Eventually, this led to both parties realizing the mutual benefit of a merger, especially since they both aligned on their vision of the industry.

Closing Notes

Market research defines and then empowers a well-thought-out strategy. It helps dodge bullets, seize opportunities and make informed decisions. More specifically, it also helps you understand cultural insights, make better decisions, boost confidence, avoid risk, spot opportunities and integrate with others more smoothly.

In conclusion, just as you wouldn’t shop blindly for a significant investment, in business, you don’t dive into mergers and acquisitions without homework. Market research is that homework.

Forbes Business Council is the foremost growth and networking organization for business owners and leaders. Do I qualify?

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9 Best Marketing Research Methods to Know Your Buyer Better [+ Examples]

Published: August 08, 2024

One of the most underrated skills you can have as a marketer is marketing research — which is great news for this unapologetic cyber sleuth.

marketer using marketer research methods to better understand her buyer personas

From brand design and product development to buyer personas and competitive analysis, I’ve researched a number of initiatives in my decade-long marketing career.

And let me tell you: having the right marketing research methods in your toolbox is a must.

Market research is the secret to crafting a strategy that will truly help you accomplish your goals. The good news is there is no shortage of options.

How to Choose a Marketing Research Method

Thanks to the Internet, we have more marketing research (or market research) methods at our fingertips than ever, but they’re not all created equal. Let’s quickly go over how to choose the right one.

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1. Identify your objective.

What are you researching? Do you need to understand your audience better? How about your competition? Or maybe you want to know more about your customer’s feelings about a specific product.

Before starting your research, take some time to identify precisely what you’re looking for. This could be a goal you want to reach, a problem you need to solve, or a question you need to answer.

For example, an objective may be as foundational as understanding your ideal customer better to create new buyer personas for your marketing agency (pause for flashbacks to my former life).

Or if you’re an organic sode company, it could be trying to learn what flavors people are craving.

2. Determine what type of data and research you need.

Next, determine what data type will best answer the problems or questions you identified. There are primarily two types: qualitative and quantitative. (Sound familiar, right?)

Qualitative Data is non-numerical information, like subjective characteristics, opinions, and feelings. It’s pretty open to interpretation and descriptive, but it’s also harder to measure. This type of data can be collected through interviews, observations, and open-ended questions.
Quantitative Data , on the other hand, is numerical information, such as quantities, sizes, amounts, or percentages. It’s measurable and usually pretty hard to argue with, coming from a reputable source. It can be derived through surveys, experiments, or statistical analysis.

Understanding the differences between qualitative and quantitative data will help you pinpoint which research methods will yield the desired results.

For instance, thinking of our earlier examples, qualitative data would usually be best suited for buyer personas, while quantitative data is more useful for the soda flavors.

However, truth be told, the two really work together.

Qualitative conclusions are usually drawn from quantitative, numerical data. So, you’ll likely need both to get the complete picture of your subject.

For example, if your quantitative data says 70% of people are Team Black and only 30% are Team Green — Shout out to my fellow House of the Dragon fans — your qualitative data will say people support Black more than Green.

(As they should.)

Primary Research vs Secondary Research

You’ll also want to understand the difference between primary and secondary research.

Primary research involves collecting new, original data directly from the source (say, your target market). In other words, it’s information gathered first-hand that wasn’t found elsewhere.

Some examples include conducting experiments, surveys, interviews, observations, or focus groups.

Meanwhile, secondary research is the analysis and interpretation of existing data collected from others. Think of this like what we used to do for school projects: We would read a book, scour the internet, or pull insights from others to work from.

So, which is better?

Personally, I say any research is good research, but if you have the time and resources, primary research is hard to top. With it, you don’t have to worry about your source's credibility or how relevant it is to your specific objective.

You are in full control and best equipped to get the reliable information you need.

3. Put it all together.

Once you know your objective and what kind of data you want, you’re ready to select your marketing research method.

For instance, let’s say you’re a restaurant trying to see how attendees felt about the Speed Dating event you hosted last week.

You shouldn’t run a field experiment or download a third-party report on speed dating events; those would be useless to you. You need to conduct a survey that allows you to ask pointed questions about the event.

This would yield both qualitative and quantitative data you can use to improve and bring together more love birds next time around.

Best Market Research Methods for 2024

Now that you know what you’re looking for in a marketing research method, let’s dive into the best options.

Note: According to HubSpot’s 2024 State of Marketing report, understanding customers and their needs is one of the biggest challenges facing marketers today. The options we discuss are great consumer research methodologies , but they can also be used for other areas.

Primary Research

1. interviews.

Interviews are a form of primary research where you ask people specific questions about a topic or theme. They typically deliver qualitative information.

I’ve conducted many interviews for marketing purposes, but I’ve also done many for journalistic purposes, like this profile on comedian Zarna Garg . There’s no better way to gather candid, open-ended insights in my book, but that doesn’t mean they’re a cure-all.

What I like: Real-time conversations allow you to ask different questions if you’re not getting the information you need. They also push interviewees to respond quickly, which can result in more authentic answers.

What I dislike: They can be time-consuming and harder to measure (read: get quantitative data) unless you ask pointed yes or no questions.

Best for: Creating buyer personas or getting feedback on customer experience, a product, or content.

2. Focus Groups

Focus groups are similar to conducting interviews but on a larger scale.

In marketing and business, this typically means getting a small group together in a room (or Zoom), asking them questions about various topics you are researching. You record and/or observe their responses to then take action.

They are ideal for collecting long-form, open-ended feedback, and subjective opinions.

One well-known focus group you may remember was run by Domino’s Pizza in 2009 .

After poor ratings and dropping over $100 million in revenue, the brand conducted focus groups with real customers to learn where they could have done better.

It was met with comments like “worst excuse for pizza I’ve ever had” and “the crust tastes like cardboard.” But rather than running from the tough love, it took the hit and completely overhauled its recipes.

The team admitted their missteps and returned to the market with better food and a campaign detailing their “Pizza Turn Around.”

The result? The brand won a ton of praise for its willingness to take feedback, efforts to do right by its consumers, and clever campaign. But, most importantly, revenue for Domino’s rose by 14.3% over the previous year.

The brand continues to conduct focus groups and share real footage from them in its promotion:

What I like: Similar to interviewing, you can dig deeper and pivot as needed due to the real-time nature. They’re personal and detailed.

What I dislike: Once again, they can be time-consuming and make it difficult to get quantitative data. There is also a chance some participants may overshadow others.

Best for: Product research or development

Pro tip: Need help planning your focus group? Our free Market Research Kit includes a handy template to start organizing your thoughts in addition to a SWOT Analysis Template, Survey Template, Focus Group Template, Presentation Template, Five Forces Industry Analysis Template, and an instructional guide for all of them. Download yours here now.

3. Surveys or Polls

Surveys are a form of primary research where individuals are asked a collection of questions. It can take many different forms.

They could be in person, over the phone or video call, by email, via an online form, or even on social media. Questions can be also open-ended or closed to deliver qualitative or quantitative information.

A great example of a close-ended survey is HubSpot’s annual State of Marketing .

In the State of Marketing, HubSpot asks marketing professionals from around the world a series of multiple-choice questions to gather data on the state of the marketing industry and to identify trends.

The survey covers various topics related to marketing strategies, tactics, tools, and challenges that marketers face. It aims to provide benchmarks to help you make informed decisions about your marketing.

It also helps us understand where our customers’ heads are so we can better evolve our products to meet their needs.

Apple is no stranger to surveys, either.

In 2011, the tech giant launched Apple Customer Pulse , which it described as “an online community of Apple product users who provide input on a variety of subjects and issues concerning Apple.”

Screenshot of Apple’s Consumer Pulse Website from 2011.

"For example, we did a large voluntary survey of email subscribers and top readers a few years back."

While these readers gave us a long list of topics, formats, or content types they wanted to see, they sometimes engaged more with content types they didn’t select or favor as much on the surveys when we ran follow-up ‘in the wild’ tests, like A/B testing.”

Pepsi saw similar results when it ran its iconic field experiment, “The Pepsi Challenge” for the first time in 1975.

The beverage brand set up tables at malls, beaches, and other public locations and ran a blindfolded taste test. Shoppers were given two cups of soda, one containing Pepsi, the other Coca-Cola (Pepsi’s biggest competitor). They were then asked to taste both and report which they preferred.

People overwhelmingly preferred Pepsi, and the brand has repeated the experiment multiple times over the years to the same results.

What I like: It yields qualitative and quantitative data and can make for engaging marketing content, especially in the digital age.

What I dislike: It can be very time-consuming. And, if you’re not careful, there is a high risk for scientific error.

Best for: Product testing and competitive analysis

Pro tip: " Don’t make critical business decisions off of just one data set," advises Pamela Bump. "Use the survey, competitive intelligence, external data, or even a focus group to give you one layer of ideas or a short-list for improvements or solutions to test. Then gather your own fresh data to test in an experiment or trial and better refine your data-backed strategy."

Secondary Research

8. public domain or third-party research.

While original data is always a plus, there are plenty of external resources you can access online and even at a library when you’re limited on time or resources.

Some reputable resources you can use include:

Pew Research Center
McKinley Global Institute
Relevant Global or Government Organizations (i.e United Nations or NASA)

It’s also smart to turn to reputable organizations that are specific to your industry or field. For instance, if you’re a gardening or landscaping company, you may want to pull statistics from the Environmental Protection Agency (EPA).

If you’re a digital marketing agency, you could look to Google Research or HubSpot Research . (Hey, I know them!)

What I like: You can save time on gathering data and spend more time on analyzing. You can also rest assured the data is from a source you trust.

What I dislike: You may not find data specific to your needs.

Best for: Companies under a time or resource crunch, adding factual support to content

Pro tip: Fellow HubSpotter Iskiev suggests using third-party data to inspire your original research. “Sometimes, I use public third-party data for ideas and inspiration. Once I have written my survey and gotten all my ideas out, I read similar reports from other sources and usually end up with useful additions for my own research.”

9. Buy Research

If the data you need isn’t available publicly and you can’t do your own market research, you can also buy some. There are many reputable analytics companies that offer subscriptions to access their data. Statista is one of my favorites, but there’s also Euromonitor , Mintel , and BCC Research .

What I like: Same as public domain research

What I dislike: You may not find data specific to your needs. It also adds to your expenses.

Best for: Companies under a time or resource crunch or adding factual support to content

Which marketing research method should you use?

You’re not going to like my answer, but “it depends.” The best marketing research method for you will depend on your objective and data needs, but also your budget and timeline.

My advice? Aim for a mix of quantitative and qualitative data. If you can do your own original research, awesome. But if not, don’t beat yourself up. Lean into free or low-cost tools . You could do primary research for qualitative data, then tap public sources for quantitative data. Or perhaps the reverse is best for you.

Whatever your marketing research method mix, take the time to think it through and ensure you’re left with information that will truly help you achieve your goals.

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VC and Fintech Investments Surge in Ireland – Research Report

August 13, 2024 @ 9:38 am By Omar Faridi

KPMG has released two reports, Venture Pulse Q2’24 and Pulse of Fintech H1’24 , which show that Ireland is following the global trend with investment up in the broader VC market, investment in fintech, is also up – “bucking the global trend.”

24 venture capital (VC) deals closed in Ireland “in Q2’24, worth $237.5 million, up 38 per cent from Q2’23,” according to the just released Venture Pulse Q2’24 report.

10 FinTech deals closed in Ireland in H1’24 “worth $140.8 million, an increase from the $59.2 million across 9 deals seen in H1’23 – which was sharply skewed by one large transaction,” according to the Pulse of Fintech H1’24 Report.

The most significant deal in Q2 “was $110 million raised by biotech SynOx Therapeutics — a Dublin-based drug discovery company focused on developing treatments for diffuse tenosynovial giant cell tumors.”

Venture Pulse and Pulse of Fintech reports “produced by KPMG analyse the latest global and Irish trends in investment data and provide insights from both a global and regional perspective.”

All figures cited are in USD; data for the reports is provided by PitchBook.

Irish and European investors are more confident this quarter. However, the uncertainties created by the 2024 elections in the US and Europe, together “with a sluggish IPO market and relatively high interest rates, mean they will remain cautious.”

The latest edition of the KPMG Venture Pulse report “reveals that venture capital (VC) investment in Ireland experienced a pickup in Q2’24 and saw 24 deals raising $237.5 million an increase of nearly two fifths (38 percent) compared to $172.5 million across 33 deals for the same period last year.”

VC investors showed increasing “willingness to make bigger bets again in Q2’24, although their focus was somewhat narrow — on areas like AI, biotech, and fintech.”

Meanwhile KPMG’s Pulse of Fintech report for H1’24 has also “been released, showing fintech activity also increased significantly in the first half of this year.”

Globally, VC investment soared “from US$75.4 billion to $94.3 billion between Q1’24 and Q2’24, fuelled by nine $1 billion mega-deals—the second largest total ever seen in a single quarter.”

While VC investment rose to a five-quarter high, deals volume “fell to 7,691—the lowest level seen globally since Q3’16. AI accounted for over half of the ten largest funding rounds globally during Q2’24 as VC investors continued to pour money into the space.”

A diverse range of start-ups attracted solid funding rounds “during Q2’24 and four deals accounted for three quarters of all Irish VC investment this quarter.”

The top four deals included “a $110 million raise by biotech SynOx Therapeutics, a drug discovery company focused on developing treatments for diffuse tenosynovial giant cell tumors.”

XOCEAN, the ocean data company, “raised $32.5 million in a Series B funding round and digital health and wellbeing provider Spectrum.Life secured $18.3 million in fresh funding.”

The 2023 KPMG Global Tech Innovator Ireland finalist Nory, “a fintech company focused on using AI to help restaurants operate more efficiently, also raised $16.1 million during the quarter.”

Commenting on VC activity in Ireland during Q2’24, Anna Scally , EMA Head of Technology, Media & Telecommunications and Head of Technology and Media at KPMG in Ireland, said:

“Irish and European investors are more confident this quarter. However, the uncertainties created by the 2024 elections in the US and Europe, together with a sluggish IPO market and relatively high interest rates, mean they will remain cautious, and it’s unlikely to see VC investment return to the levels reached in 2021 and 2022. It’s particularly encouraging to see investment and interest in Irish innovative solutions in biotech, ocean data tech, healthtech and AI.”

Heading into Q3’24, VC investment globally and in Ireland is “expected to remain relatively steady, with AI continuing to attract a large share of funding.”

Scally added:

“This surge highlights the growing confidence in Irish startups and Ireland’s innovative potential; we only have to look at the volume of exceptional entries and finalists in this year’s Global Tech Innovator competition 2024; the Irish winner will be announced in September.”

AI will likely remain a very hot area in addition “to energy and cleantech.”

As of January 17, 2025, financial institutions in the EU will “be required to comply with the Digital Operational Resilience Act (DORA).”

Given the complexities associated with compliance, there will likely “be growing interest in regtechs focused on helping companies comply.”

The first six months of 2024 were “particularly challenging for the fintech market globally, according to KPMG’s Pulse of Fintech H1 2024 report.”

Total global fintech investment—including VC, PE, and M&A deal value—fell “from $62.3 billion across 2,287 deals in H2’23 to $51.9 billion across 2,255 deals in H1’24.”

However, the trend in Ireland is positive “as $140.8 million was raised across 10 deals in H1’24 compared to $59.2 million across 9 deals in H1’23.”

It is worth nothing however that activity in H1’24 “was skewed significantly by one large transaction – the $109 million buyout of Ireland-based SoftCo by Keensight Capital.”

Other notable deals for the period were ones by Zartis, “offering software consulting services, and mobile payment platform CleverCards, both raising just over $10million and $8 million respectively.”

Crowdfund Insider is the leading news website covering the emerging global industry of disruptive finance including investment crowdfunding, Blockchain, online lending, and other forms of Fintech.

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