Services to Business Community

In today's day and age, more than ever, businesses are turning to market researchers in order to help them identify opportunities during economic prosperity or save them costs during a recession. However, despite the benefits, such research is often times quite costly. It typically costs companies hundreds of thousands of dollars to obtain thorough market research. This can be especially problematic for small-to-medium-sized companies, leaving them to resort to their own hunches when making critical business decisions. To address the issue, Customer Insights Lab has been proudly assisting these companies, contributing to the development of the local and national economy. We deal with both primary and secondary data.

How it Works

At the Customer Insights Lab, faculty and students work together with small- and medium-sized businesses and entrepreneurs to address the most pressing business needs through sound market research in two courses (IBM 4092 / IBM 4952) scheduled back to back (6 hours per week ). This combo class devotes entire class time to solve just one client's problems, doing all the qualitative and quantitative research, necessary to generate insights. The professors recruit students several months before the class starts, and select a small number (9 - 16) of the most qualified students (GPA = 3.0+). Prior to the class, professors work closely with clients to understand clients' business problems and guides students throughout the class session. They are the contact persons for the client, and there are usually enough meetings between the professors and client to address any issues before and during the class. Customer insights generated through the affordable market research will allow us to provide our client companies with actionable recommendations to solve their business problems.

Why You Should Consider Our Services

We provide a full range of research service from problem identification and exploratory research, to data collection, data analysis, and recommendation. Yet, we charge only a nominal fee. This is possible because professors are not paid separately; their consulting fees are covered by the university. Similarly, students are not separately paid; they are rewarded by the course credits and invaluable experience that enrich their education. We conduct the market research the way market research companies do at a fraction of the cost they would charge at a quality that is par with the work of the professionals because the students are chosen selectively and work under the close supervision of the professors who have a track record of research and consulting experience. Their sheer knowledge in business and access to the vast amount of previous research is an added bonus.