Marketing research is the foundation and starting point of any successful marketing campaign. It will help in your strategic marketing plan development and decision making, and enable you to avoid costly mistakes. Above all, the greatest benefit of market research is getting the data that will help you understand the target customers and markets for your business. Main types are surveys, research in-person or by a third party, with many different subgroups for each type. Every research starts with identifying what you want to achieve and defining your goals. Once you decide on the type, you can proceed with the research itself which will result in a large set of data that you need to analyze. Concise summary of your data will make it easy to be implemented into your strategy.
Key Takeaways:
- Primary research refers to the gathering of data that hasn’t been previously assembled by someone else.
- Primary research can include surveys, interviews, diarys, and focus groups among other methodologies.
- Secondary research includes the use of data gathered by someone else such as government agencies, trade associations, or from specialized digital tools.
“If you have big goals, market research can help your business make the right moves and avoid wasting time and money on the wrong ones.”
Read more: https://smallbiztrends.com/2020/06/marketing-research.html
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