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Make Strategic Decisions with Customer Research

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Customer research is more than a process. It is often known as a reality check that organizations need to have for formulating future product expansion strategies. It challenges the status quo and offers few odd surprises here and there. Customer research is an effective way to find out what your target customer is really thinking.

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Make Strategic Decisions with Customer Research

  1. 1. Make Strategic Decisions with Customer ResearchCustomer research is more than a process. It is often known as a reality check that organizations need tohave for formulating future product expansion strategies. It challenges the status quo and offers few oddsurprises here and there. Customer research is an effective way to find out what your target customer isreally thinking. You get actual feedback when someone outside the sales process is conducting it.Why customer research is important?Most companies that have been actively involved in customer research have been surprised many timesby the consumer trends that the research highlighted. Effective customer research programs allow you tolocate the need for product innovation, assess partnering opportunities and get access to valuablecompetitor information.However, the actual value of customer research can be experienced when the data is collectedsystematically by an expert researcher or a service provider. This data is further used to distinguish thetrends prevailing that otherwise can be termed as hearsay without much evidence. When the trends areidentified with adequate evidence it acquires a strategic dimension allowing organizations to arrive atsmart business decisions.Industry Offerings in Customer Research SolutionsToday leading brands in Product R& D Services have come up with new age customer researchsolutions. This enables an organization to achieve a better understanding of their consumers psyche.These companies with their new age methods and able project execution engineers offer users with thevery basis for continuous collaboration if used regularly. In addition to that, other incorporated procedureshelp clients to engage their respective stakeholders in product planning and outline new product featuresthrough the development lifecycle. Some of the core focus areas are listed below:- ● Customer Requirements ● Product Requirements ● Product Usage / Features ● Future Products ● Pricing ModelsCustomer Research and Marketing InitiativesOne of the popular definitions of marketing defines it as the “process of planning and executing theconception, pricing, promotion and distribution of ideas, goods and services to create exchanges thatsatisfy individual (customer) and organizational objectives". The central point here is the role played by an
  2. 2. individual and his association with a particular service and product. To know what the customer associatewith a brand and its offerings customer research is the key element. It helps enterprises to understandwhat factors contribute to brand loyalty.Read on - application lifecycle management, android application development

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