Both market research (gathering information about target markets or customers) and the sub component of marketing research (understanding and improving the marketing processes) can help organisations make sound business decisions backed by solid evidence.
Market research projects can be custom designed to meet many needs. Most commonly, projects help organisations better understand the market (including their industry, market gaps and competitors), their customers (including who they are and what they want) or themselves (including strengths and weaknesses). These projects support organisations’ own experiences with sound information, taking their strategy and planning to the next level.
Regularly assessing your business, market and consumers will help you stay on top of changing needs and enable you to approach new markets and ventures with confidence.
Market research puts the science into your marketing
- Determine your most profitable target market segments
- Understand the needs of your consumers better
- Improve your offerings to become even more appealing
- Identify and track your competitors
- Establish benchmarks to measure campaign performance
Does your business need better marketing data?
Without data, organisations resort to making decisions based on gut feeling, intuition, or what their competitors are doing. Relying on feelings rather than facts can lead to costly mistakes and missed opportunities.
As markets become more competitive and the cost of marketing rises, having sound data is vital for businesses. Separating the unbiased facts from your experiences and opinions can help identify areas for growth and allow you to make effective choices to get the most out of your resources.
Whether you are looking to improve your understanding of which markets you should target, want to better serve the needs of your current consumers or need to identify gaps in your marketing processes, market research can help you keep your business growing from strength to strength.
Why use Baker Marketing for your market research needs?
At Baker Marketing, our goal is to get you the best return on all your marketing, backed by expertise and data. Our experienced consultants can help with a wide range of market research projects to give your business the in-depth knowledge it needs.
We can help with all your market research needs:
- Target Market Analysis: Find the market segments with the most potential for your business
- Export Market Analysis: Determine new markets to grow your business globally
- Market and Competitor Analysis: Understand where you stand against your competitors and the market
- Consumer Research Projects: Find out what your customers really think, and really want
- Marketing Process Analysis: Evaluate your marketing strategy, monitor your marketing performance, and learn how to improve your marketing processes
Have an opportunity you want to explore for your business? Looking to refine your strategy with better data? Contact Baker Marketing to discuss how we can help you with market research!
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