Top 10 Reasons Why Market Research is Important for your Business

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    09-Jun-2015

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Market Research can help you build a successful business by getting to know your customers, refining your products and planning your business's growth based on objective analysis and real data.

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<ul><li> 1. Top 10 Reasons Why Market Researchis Important for Your Business Im Ringo, and Im a Market ResearchGURU!</li></ul> <p> 2. Meet mybest friend Brad!Hes my human! 3. Brad owns a chain ofpet stores. As for me? Iwork hard guarding theshop all day. 4. Business has beendown and Brad cantfigure out why. 5. All I know is that withrevenues down, Brad cant afford those yummytreats I love. 6. So I guess its up to me to dig up someMarket Research to help uslearn more about our businessand our market. 7. Market Researchfetches objective analysisand real data that can help Brad learn about his customers and market trends. Then he can fix his business. 8. Here are the top10 reasons why Market Researchis important for your business. 9. Top 10 Reasons Why Market Research is Important for Your Business1. Understanding Customers Needs. I see customers looking for natural or organic pet food. Brad is stocking a bunch of traditional pet foods. Market Researchcould show him that there is huge growth in the high end pet food market. If only Brad had known. 10. 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 couldtell him whats going to sell andwhats not. Market Research gives you a fulltaste of your product in your marketplace and helps you knowif there is a potential for profitability. 11. 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 wesell, but for less money.Market Research provides you with valuable information about yourcompetitors, such as who they are,how to position yourself in the marketplace and make practical decisions about pricing and promotions. 12. 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 beensitting on the shelf for a year.Market Research asks the right questions so you know who yourmarket is and whether youshould be offering new ordifferent products or services. 13. Top 10 Reasons Why Market Research is Important for Your Business5. Understanding Your Demographics.Every time a human walks through the door I sniff outvaluable information. Market Research helps you target your product or messageto speak to a specific gender, age, location, income and awealth of other criteria. Then Brad can make informeddecisions. 14. 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 increasethe odds of product success rates by understanding thecomplexities of consumers.Reducing the risk means I dont have to wear this stupid hat! 15. 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. Ilisten to Podcasts about technology and business. Market Research conducted ona regular basis can help Brad keep up with technological breakthroughs and know which technology shifts are influencing his industry. 16. Top 10 Reasons Why Market Research is Important for Your Business 8. Knowing Future Trends. Im a ready for action kindof pooch. I know for Brad to maintain his competitiveadvantage, he needs to try new things.Market Research can predictfuture trends, making itsafer for Brad to dive into anew idea head first. 17. Top 10 Reasons Why Market Research is Important for Your Business9. Knowing How to Market and Advertise. Brad thinks if you build itthey will come. I know thatmarketing is more than just telling people about yourInsertbusiness.textHere Market Research will helpBrad know how to convince customers they need himand then how to reach them with a powerful message. 18. 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 onelast thing to teach him.Because Market Research is analyzed by experts, he is sure to get data that willhelp him make the right strategic decisions to succeed. 19. All the Market Research reports Ineed to help Brad are right here atthe tips of my paws. Who knew itwas so fast and easy. Thanks MarketResearch.com. 20. They Say You Cant 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.</p>