Marketing Research - SOK

Market research (or marketing research) is any set of techniques used to gather information and better understand a company’s target market. Businesses use this information to design better products, improve user experience, and craft a marketing strategy that attracts quality leads and improves conversion rates.

Features

The marketing Management refers to planning, organizing, directing, control of the activates which facilitate the exchange of goods and services between the producers to end consumers. Firms today need to spend money to create time, place and ownership utilities

Cost

In general, you should plan to spend about $5,000 for a qualitative or quantitative custom market research project. For market research projects completed by a specialist firm within your industry niche, expect to lean into the higher end of that range

Why It’s Good

It is clear that market research is vital when developing your marketing strategy. It provides great insights to your business and on the wider marketplace. Market research can identify how customers and potential customers might view your business and identify gaps in customer expectations. This is powerful information to have when completing your marketing strategy. Having good market intelligence helps to minimise risks when making key business decisions.