Why does companies use “Market Research”?
Market research is important for every business, and should not be just a one-off activity.
Successful businesses conduct research on a continual basis to keep up with market trends and to maintain a competitive edge. Regardless of whether you’re starting or expanding your business, market research is vital to understanding your target market and increasing sales.
There about several methods.
Survey – A quick examination.
Focus group – mall number of people (usually between 4 and 15) brought together with a moderator to focus on a specific product or topic.
Questionnaire – A form containing a set of questions, especially one addressed to a statistically significant number of subjects as a way of gathering information for a survey.
Interview – A formal meeting in person, especially one arranged for the assessment of the qualifications of an applicant.
Poll – A survey of the public or of a sample of public opinion to acquire information.