Everyone will agree with the thesis that marketing research is an essential tool for brand development. However, in the real working process, when faced with a large volume of operational issues, it can be difficult to pause and recognize the need for additional data.
Today, I will discuss the types of research and when they can provide your business with new opportunities.
What is Marketing Research?
Marketing research is a comprehensive analysis of the brand's environment, demand and supply, the search for potential growth points, and the identification of key risks.
Types of Research:
Audience research: creating consumer profiles with purchase motivations
Demand assessment and business case calculations
Competitor activity overview and successful case studies from related industries
Testing new products and hypotheses
When You Need Research:
When launching a new brand
During the introduction of a new product to the market