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</html>";s:4:"text";s:13629:"Potential products and services can be evaluated against current market offerings, as well as tested before a full-scale market launch. Market research also helps businesses create offerings that either fill a void or provide better value than those already available. 0000005230 00000 n
Fundamentally, all companies want to reduce their risks and maximize their opportunities, either turning a profit or improving lives, depending on their overall business goal. Marketing research often serves a descriptive function,which refers to the gather- ing and presentation of information about a marketing phenomenon or situation. Market research, while often sophisticated in its design, is actually quite simple in its objective: to foster insight into market conditions so that companies can hopefully make better business decisions. Thus, companies must conduct market research, asking questions so that the answers can shed light on the direction they need to go. The information obtained from conducting market research can be used to tailor marketing/ advertising activities or to determine what are the feature priorities/service requirement (if any) of consumers. Surveying customers provides the feedback companies need to maintain or adjust their practices in ways that satisfy the people they serve and build brand loyalty. 0000004686 00000 n
After you’ve done your market research, it'll be clear to you who … 0000003531 00000 n
Scribd is the world's largest social reading and publishing site. 0000005824 00000 n
We have over two decades of experience crafting projects that garner meaningful and actionable results for our clients. Complete our request a quote form and one of our representatives will contact you regarding your specific research needs. It must understand when and where people buy certain things and how they use them. 0000001319 00000 n
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The Purpose of Market Research is to Improve Company Offerings . We can help you properly assess the conditions within your industry, along with your competitors and customers, by offering you the right data collection services and the right analysis techniques. 0000006402 00000 n
This helps companies manage their valuable resources, saving their time and money for only those offerings best suited to favorable outcomes. 0000001464 00000 n
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Easily Spot Business Opportunities. x�b```�_��@(�����q����0��FA��sÞ�l�l� �H��~֥"ɻ�f*���a�'�{63E[@������-an3�y�v��;�D!�5{W{����(���� b)0������L����42P\��h?�=&�L� As we mentioned above the informed decision making is the main purpose of market research efforts and activities. 0000050894 00000 n
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Of course, competition is always a concern in any market. %%EOF
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Marketing research can help a business do one or more of the following: 1. If a business’s number one goal is to maintain a profit and/or improve lives, then a happy customer is a good indication that it’s doing that job well. 0000002541 00000 n
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Market research helps them hedge their bets as they work towards this goal. 0000086716 00000 n
In essence, it could be argued that customer satisfaction is the ultimate goal of market research. To correctly position itself in any one industry, a company must understand who needs a product and why they need it. Abstract The role and importance of various marketing activities within a company is a function of numerous internal and external factors, including those that are … Satisfied customers are happy ones because their needs have been met. Purpose of Marketing Research - Free download as Word Doc (.doc), PDF File (.pdf), Text File (.txt) or read online for free. endstream
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... What is Market Research Infographic for free download in PDF. Knowing who you’re playing against is vital to planning a strategy for defeat in any situation. 19 0 obj <>
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Tweet Pin It. If you need assistance choosing the right research methodology, contact our team at Communications for Research (CFR). 0000002069 00000 n
Market research also helps businesses create offerings that either fill a void or provide better value than those already available. 0000087129 00000 n
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The size and diversity of a consumer base will necessarily dictate the ways in which a company attempts to meet its demand. 0000002800 00000 n
The research can give you all marketing benchmarks that you need to constantly improve your company’s marketing strategies. Here’s a quick overview detailing why market research exists: Markets come in all shapes and sizes. Potential products and services can be evaluated against current market offerings, as well as tested before a full-scale market launch. 0000002314 00000 n
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