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Old 16th March 2016, 06:49 AM   #1
marketresearche
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Default Why Is Market Research Important For Your Business?

Market research allows identifying the best point of business by analyzing the industry, consumer, customer behavior, competitors, and the market environment.

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Old 17th March 2016, 02:49 PM   #2
DeniseTaylor
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Are you asking or telling? If you're asking, market research helps you locate areas of demand, while determining the amount of supply and therefore competition. It can also help you to find a unique position that sets you apart from the competition, giving you an edge. (Among other things. ;-))

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Old 22nd March 2016, 03:27 PM   #3
NumBuzzResearch
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Some nice concise answers, makes me wish I was less of a rambler

One thing that is often forgotten when it comes to market research, is that data can be used to support your blog content or marketing. I think usually people assume that 'market research' should be just cold, scientific stats, but actually you can use it for a lot of 'softer' business needs as well.

Try googling the words: ' xxxx carried out a study respondents ' (where xxxx is a random company name of your choice - for example I just searched 'HP' and 'Rosetta Stone' from Google UK), you'll often find that these organisations are creating their own content through research. These organisations haven't carried out the research due to any scientific or strategic need and then decided to use it in a market campaign - they've carried out research specifically to use as a form of advertising.

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Old 29th June 2016, 08:37 AM   #4
JohnaD
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Quote:
Originally Posted by DeniseTaylor View Post
Are you asking or telling? If you're asking, market research helps you locate areas of demand, while determining the amount of supply and therefore competition. It can also help you to find a unique position that sets you apart from the competition, giving you an edge. (Among other things. ;-))
x2

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Old 29th June 2016, 08:41 AM   #5
JohnaD
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Research, research, research. In my humble experience nowadays it is suicide to start what so ever business without a proper marketing research! As NumBuzzResearch has adequately mention, such data could put to far more use than playin cold data and internal business decisions. If you ask me ALL such data should be used for content marketing.

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Old 30th June 2016, 09:12 AM   #6
Robert Nettles
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I focus on local lead generation. We use market research to craft an SEO plan to rank. Sometimes we use ppc and others it is just too expensive for our model.

But it is only 1 part of a big puzzel

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Old 18th August 2016, 03:28 PM   #7
Mitch carson.j
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I think you told the main point then why you asked this question?


Anyway it was nice to me. Thanks

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Old 24th August 2016, 10:33 PM   #8
CodyDeegan
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Yes, market research is more important today than ever. With the sprouting of startups everywhere plus existing players or competitors in the market, you have to make sure that you can carefully and surely position your business for it to survive.

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Old 22nd November 2016, 01:53 AM   #9
MahaKarthi
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Market research is the first and foremost thing that any entrepreneur would have to do before launching a business. This gives a clarity of the probability of success or profit for any business set up.

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Old 6th March 2017, 12:29 AM   #10
Nitesh Pundhir
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choose your one the best competitors and follow his strategies and activities.

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