What is Market Research?

Let's talk about feelings.

When done well, a market research firm will perform research that will have a role in just about any and all aspects of business—creating something new, measuring performance, defining priorities, and identifying opportunities for growth.

A market research firm will help businesses strengthen positioning, minimize investment risk, identify threats and market opportunities, and determine user and target audience needs—overall aiding in strategic planning. Market research can happen anytime during the business cycle and should happen often. Markets and customers are ever-changing, and market research is how businesses stay abreast of those changes.

What does a Market Research Firm do?

Here's the low-down.

A Market Research Firm conducts market research which is a common approach to research that often includes focus groups, ethnography, interviews, surveys, and competitive market analysis. At its core, this type of research provides critical information about your market, the current landscape in the marketplace, and, namely, your customer.