Whether you are trying to launch your new business or you already running a business, market research is very important for the success of your business. When you do market research properly, you will be able to identify the right products to sell, the right market to sell, etc. What kind of market research do you do? How do you conduct market research to understand customers' needs and preferences?
What kind of market research do you do?
- Thread starter nomad
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For my kind of business, I do direct surveys interacting directly with customers to know their preferences on pricing and products nature. I also do competitor analysis to ascertain the strategies employed by my competitors.
I currently do not own a business. No need to do market research. When I was working for a company, we did market research from time to time. Our research may include customer satisfaction and preference as well as competitive analysis.
Product research is something that is always very necessary because it is going to give you the information that you need to be able to develop a product that will be in high demand in the market.
