While primary market research and direct engagement with your audience has obvious benefits, it can also be very expensive and time consuming. Before investing time and energy on primary research, companies should also consider other sources of research that are available to them. The internet has made secondary market research a very powerful tool for
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.