Download pdf - Top 10 Reasons Why Market Research is Important for your Business

I’m Ringo, and I’m a Market Research

GURU!

Top 10 Reasons Why

Market Research is Important for Your Business

Meet my best friend Brad! He’s my human!

Brad owns a chain of pet stores. As for me? I work hard guarding the

shop all day.

Business has been down and Brad can’t

figure out why.

All I know is that with revenues 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 us learn more about our business

and our market.

Market Research fetches objective analysis

and 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 Research is important for your

business.

Understanding Customer’s Needs. 1.

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 Business

Knowing Your Product. 2.

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.


Understanding Your Competition. 3. 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.


Knowing Your Market. 4.

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.


Understanding Your Demographics. 5.

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.


Reducing Your Risks. 6.

Brad wants to launch some new products. 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!


Understanding New Technology. 7.

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.


Knowing Future Trends. 8.

I’m a ready for action kind of pooch. I know for Brad to

maintain his competitive advantage, he needs to try

new things.

Market Research can predict future trends, making it

safer for Brad to dive into a new idea head first.


Knowing How to Market and Advertise. 9.

Brad thinks if you build it they will come. I know that marketing is more than just telling people about your

business.

Market Research will help Brad know how to convince customers they need him

and then how to reach them with a powerful message.


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Providing Expert Analysis. 10.

OK, now that Brad has gathered all his data using

Market 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 I need to help Brad are right here at the 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.

http://www.marketresearch.com/

http://www.marketresearch.com/