The true value of market research
Posted: Tue Jan 07, 2025 5:58 am
Nowadays it is very common to hear about the importance of knowing what the market wants in the business world, but have you ever wondered where the true value of market research lies?
If you are considering undertaking research like this, in this article we will share with you some of the aspects that make it the ideal tool for the success of a company, brand or product.
What are the most common problems in market research?
Market research is the process by which companies seek to systematically gather information in order to make better decisions.
However, today the flow of information is enormous. For example, when a company like Pepsi conducts surveys on digital media such as Twitter, blogs and online publications, its servers can detect up to 6 million mentions per day.
With this huge flow of data, it is very common for marketing managers norway phone number companies to complain about not having the necessary information to implement action plans and optimize decision-making. The reason for this is that the problem is not the quantity but the quality of the information .
Another of the major problems present in market research is the “life” that the data collected has.
It is very common that in a world as changing and fast as the one we live in, information has a shorter validity period, so constantly updating databases and customer information will be of vital importance to be able to provide customers with the best possible service or product.
We share with you our Glossary of Market Research Terms
What is the value of market research?
An important aspect to understand the value of commercial research is to understand the importance of how all the data obtained is used , as this will allow for better knowledge of the consumer.
To achieve this, an essential step is to determine the ideal tool to obtain quality information. Currently, we have various tools that are ideal for carrying out this task accurately, that is, they allow us to obtain specific information easily so that we can make changes and take key decisions for the future of any company.
For example, many companies have found the solution to the problems mentioned above by using online survey software , thus taking advantage of the various benefits that this type of innovative software provides for decision-making.
If you are considering undertaking research like this, in this article we will share with you some of the aspects that make it the ideal tool for the success of a company, brand or product.
What are the most common problems in market research?
Market research is the process by which companies seek to systematically gather information in order to make better decisions.
However, today the flow of information is enormous. For example, when a company like Pepsi conducts surveys on digital media such as Twitter, blogs and online publications, its servers can detect up to 6 million mentions per day.
With this huge flow of data, it is very common for marketing managers norway phone number companies to complain about not having the necessary information to implement action plans and optimize decision-making. The reason for this is that the problem is not the quantity but the quality of the information .
Another of the major problems present in market research is the “life” that the data collected has.
It is very common that in a world as changing and fast as the one we live in, information has a shorter validity period, so constantly updating databases and customer information will be of vital importance to be able to provide customers with the best possible service or product.
We share with you our Glossary of Market Research Terms
What is the value of market research?
An important aspect to understand the value of commercial research is to understand the importance of how all the data obtained is used , as this will allow for better knowledge of the consumer.
To achieve this, an essential step is to determine the ideal tool to obtain quality information. Currently, we have various tools that are ideal for carrying out this task accurately, that is, they allow us to obtain specific information easily so that we can make changes and take key decisions for the future of any company.
For example, many companies have found the solution to the problems mentioned above by using online survey software , thus taking advantage of the various benefits that this type of innovative software provides for decision-making.