First you need to know:
Posted: Mon Dec 23, 2024 8:37 am
Data collection by online and automated means accounts for more than half of the total market, to the detriment of other methods (telephone, in person, etc.).
In 2016, investment in online market research accounted for 56% of total global investment in market research, according to data from ANEIMO .
Thanks to technological development, market research is currently enjoying great growth, accumulating several consecutive years of growth.
Online market research is faster, cheaper and allows for improved quality of information obtained.
Technology enables tracking and automation, reducing human errors and providing information in real time.
In addition, social networks allow users to collect opinions very quickly and easily, by offering different formats and systems to carry out surveys in real time.
Benefits of market research
Reduce risk in business decision-making, based on reliable information.
Identify the most important areas where to invest your resources.
Get to know your customers and market better.
Optimize the planning of your marketing strategy and other business strategies.
Improve your products by understanding your customers' needs.
Case study
For example, imagine you own a flower and plant shop and you are thinking of launching a mushroom self-cultivation kit.
Self-cultivation offers several advantages to potential kit buyers: apart from the satisfaction of self-sufficiency, a high-quality product can be obtained at a low cost.
You also came up with a brilliant idea to use the kit packaging as a stand or “flowerpot”.
Making the kits and advertising them will cost money and time.
If your idea doesn't end up being successful, you'll end up with a stock of kits taking up space in your warehouse and you'll have wasted your resources.
Before you start manufacturing and selling the new kit, you might want to find out if it will be worth i email list france nvesting in, if it will be profitable.
Who “needs” a mushroom growing kit? Who is willing to buy it? How many potential customers will you have?
How much money are you willing to spend on this? Is there already a similar product? How much are you paying for it?
What benefit does your grow kit provide? Does it save the customer money or provide any other non-financial benefit? Could it be improved?
This is where market research comes into play, allowing you to understand the viability of the product, its competition and the market you are going to work in before investing too much time and money.
Types of market research
In 2016, investment in online market research accounted for 56% of total global investment in market research, according to data from ANEIMO .
Thanks to technological development, market research is currently enjoying great growth, accumulating several consecutive years of growth.
Online market research is faster, cheaper and allows for improved quality of information obtained.
Technology enables tracking and automation, reducing human errors and providing information in real time.
In addition, social networks allow users to collect opinions very quickly and easily, by offering different formats and systems to carry out surveys in real time.
Benefits of market research
Reduce risk in business decision-making, based on reliable information.
Identify the most important areas where to invest your resources.
Get to know your customers and market better.
Optimize the planning of your marketing strategy and other business strategies.
Improve your products by understanding your customers' needs.
Case study
For example, imagine you own a flower and plant shop and you are thinking of launching a mushroom self-cultivation kit.
Self-cultivation offers several advantages to potential kit buyers: apart from the satisfaction of self-sufficiency, a high-quality product can be obtained at a low cost.
You also came up with a brilliant idea to use the kit packaging as a stand or “flowerpot”.
Making the kits and advertising them will cost money and time.
If your idea doesn't end up being successful, you'll end up with a stock of kits taking up space in your warehouse and you'll have wasted your resources.
Before you start manufacturing and selling the new kit, you might want to find out if it will be worth i email list france nvesting in, if it will be profitable.
Who “needs” a mushroom growing kit? Who is willing to buy it? How many potential customers will you have?
How much money are you willing to spend on this? Is there already a similar product? How much are you paying for it?
What benefit does your grow kit provide? Does it save the customer money or provide any other non-financial benefit? Could it be improved?
This is where market research comes into play, allowing you to understand the viability of the product, its competition and the market you are going to work in before investing too much time and money.
Types of market research