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Market Research is all about information and trust me there are better ways to dig it up than this! This is not how you dig up market research. Dig up real data. Dog digging dreamstime.com 20714615
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Brad owns a chain ofpet stores. As for me? Iwork hard guarding the shop all day.
Business has beendown and Brad can’t figure out why.
All I know is that withrevenues down, Brad can’t afford those yummy treats I love.
So I guess it’s up to me to dig up some Market Research to help uslearn more about our business and our market.
Market Research fetches objective analysisand real data that can help Brad learn about his customers and market trends. Then he can fix his business.
Here are the top 10 reasons why Market Researchis important for your business.
Top 10 Reasons Why Market Research is Important for Your Business1. Understanding Customer’s Needs. I see customers looking for natural or organic pet food. Brad is stocking a bunch of traditional pet foods. Market Research could show him that there is huge growth in the high end pet food market. If only Brad had known.
Top 10 Reasons Why Market Research is Important for Your Business2. Knowing Your Product. Unbeknownst to Brad I chew on everything in the store! I could tell him what’s going to sell and what’s not. Market Research gives you a full taste of your product in your marketplace and helps you know if there is a potential for profitability.
Top 10 Reasons Why Market Research is Important for Your Business3. Understanding Your Competition. I went on a spy mission the other day to check out the competition. They are selling the same things we sell, but for less money. Market Research provides you with valuable information about your competitors, such as who they are, how to position yourself in the marketplace and make practical decisions about pricing and promotions.
Top 10 Reasons Why Market Research is Important for Your Business4. Knowing Your Market. Brad is a people pleaser. He wants to carry every pet product there is, but this lizard has been sitting on the shelf for a year. Market Research asks the right questions so you know who your market is and whether you should be offering new or different products or services.
Top 10 Reasons Why Market Research is Important for Your Business5. Understanding Your Demographics. Every time a human walks through the door I sniff out valuable information. Market Research helps you target your product or message to speak to a specific gender, age, location, income and a wealth of other criteria. Then Brad can make informed decisions.
Top 10 Reasons Why Market Research is Important for Your Business6. Reducing Your Risks.Brad wants to launch some newproducts. This is costly and risky. Market Research can increase the odds of product success rates by understanding the complexities of consumers.Reducing the risk means I don’t have to wear this stupid hat!
Top 10 Reasons Why Market Research is Important for Your Business7. Understanding New Technology. Brad is very old fashioned, but I am a thoroughly modern dog. I listen to Podcasts about technology and business. Market Research conducted on a regular basis can help Brad keep up with technological breakthroughs and know which technology shifts are influencing his industry.
Top 10 Reasons Why Market Research is Important for Your Business 8. Knowing Future Trends. I’m a ready for action kindof pooch. I know for Brad to maintain his competitiveadvantage, he needs to try new things.Market Research can predict future trends, making itsafer for Brad to dive into a new idea head first.
Top 10 Reasons Why Market Research is Important for Your Business9. Knowing How to Market and Advertise. Brad thinks if you build it they will come. I know that marketing is more than just telling people about your Insert business. text Here Market Research will help Brad know how to convince customers they need him and then how to reach them with a powerful message.
Top 10 Reasons Why Market Research is Important for Your Business 10. Providing Expert Analysis. OK, now that Brad has gathered all his data usingMarket Research, I have one last thing to teach him.Because Market Research is analyzed by experts, he is sure to get data that will help him make the right strategic decisions to succeed.
All the Market Research reports Ineed to help Brad are right here atthe tips of my paws. Who knew it was so fast and easy. Thanks MarketResearch.com.
They Say You Can’t Teach an Old Dog New Tricks! Ha, I told you I was a Market Research Guru! Check us out! Market Research is What We Do.