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Consulting: A Different World
I won't say I have a vast array of knowledge as a consultant...collectively I've only been doing it about 8 years. However, there are some things that I have observed that I think will be helpful to those of you who are new to the profession. ...
Don’t blame the economic downturn
Don’t blame the economic downturn Are we really facing an economic downturn? Is it just hype that we’re heading into a recession? Or is this the reality we need to face? Whether or not you believe that we're facing recession, you can choose how to...
Guidelines For Choosing A Guru, Coach Or Mentor
The following tips are meant as a guide for those of you who wish to enter into a coaching or mentoring relationship with a Guru, Coach or Mentor. 1. If you are not going to work with the individual you are paying, don't do it. You need to work...
Guidelines For Choosing A Guru, Coach Or Mentor
The following tips are meant as a guide for those of you who wish to enter into a coaching or mentoring relationship with a Guru, Coach or Mentor. 1. If you are not going to work with the individual you are paying, don't do it. You need to work...
Why Would Anyone Consider Network Marketing
Why Would Anyone Consider Network Marketing? Bill Dunigan Extra income, extra income, extra income! Residual income, residual income, residual income! That’s it, plain and simple. This is a question I’m sure most people have asked. With the...
 
Why is Market Research important?



Market research is an essential part of any business that wants to offer products or services that are focussed and well targeted. Business decisions that are based on good intelligence and good market research can minimise risk and pay dividends and by making market research part and parcel of the business process and conducting market research throughout the lifecycle of a product or service market research will bring the following benefits:-

Market research will help you better communicate - Your current customers experiences are a valuable information source, not only will they allow you to gauge how well you currently meet their expectations they can also tell you where you are getting things right and more importantly where you are getting things wrong.

By asking the customer you not only show them that you care but you also take the guess work out of customer services.

Market research helps you identify opportunities – If you are planning to operate a new


service and want to know the preconceived attitudes people have then market research can help, not only in evaluating the potential for a new idea, but also by identify the areas where a marketing message needs to honed.

Market research will minimise risk - Market research can help shape a new product or service, identifying what is needed and ensure that the development of a product is highly focused towards demand.

Market research creates benchmarks and helps you measure your progress - Unless you measure you may not be able to gauge how well your business is performing. Early research may highlight glaring holes in your service or short falls in your product, regular market research will show if improvements are being made and, if positive, will help motivate a team.

About the Author

Martin Day is a Director of Survey Galaxy Ltd a web site that allows anyone to create, design and publish online surveys. For more information please visit http://www.surveygalaxy.com

 
 

 
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