Market Research is an essential tool to ensure the future growth of your company, by providing the necessary input to allow you to adapt to the demands of your customers. The graph below shows the hypothetical growth of three companies over time, emphasizing the points at which they conducted market research and the theoretical impact
As cost pressures continue to squeeze margins in these difficult economic times, it is understandable that every penny is scrutinized before it is spent. When companies are in the start-up phase there may be a temptation to avoid investment in Market Research initiatives unless a tangible business case, with demonstrable Return on Investment (ROI) can
While we have alluded to co-creation in previous posts, it is not yet something we have addressed specifically, so exactly what is consumer co-creation and what is its relationship with market research and how can you use it to help grow your business?
Startup Market Research begins as soon as you have a business idea and you ask yourself whether it is viable. It continues as you ask your friends and family if they think it will work and you look online to see if other people are already doing it.
Following a set process for your startup market research is a sure-fire way of getting the best results. Once you have set your research objectives, written your questionnaire and launched your survey or conducted some interviews, the next key step is to do some preliminary analysis. Market research firms use mid-point reviews when they are