Indicates whether the organization uses market research to identify the needs of clients and potential clients.
Indicates whether the organization uses market research to identify the needs of clients and potential clients.
Organizations should footnote the details of the market research that they conduct and the process and frequency with which they conduct the market research. See usage guidance for further information.
This metric is intended to capture whether the organization employs market research. Market research on clients enables organizations to better service their clients by understanding topics such as: the characteristics of their target clients, their clients' needs and preferences for products and for delivery channels, and potential barriers for their clients to access products, among other topics.
Organizations can refer to the SPI4 (http://cerise-spi4.squarespace.com/), specifically Essential Practice 3a1, for additional indicators related to market research. SPI4 is a social audit tool, developed for financial service providers, which can apply to any organization with both social and financial objectives.
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).