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Market research helps you identify opportunities – If you are planning to operate a new service and want to know preconceived attitudes people have then market research can help, not only in evaluating potential for a new idea, but also by identify areas where a marketing message needs to honed.
Market research will minimise risk - Market research can help shape a new product or service, identifying what is needed and ensure that development of a product is highly focused towards demand.
Market research creates benchmarks and helps you measure your progress - Unless you measure you may not be able to gauge how well your business is performing. Early research may highlight glaring holes in your service or short falls in your product, regular market research will show if improvements are being made and, if positive, will help motivate a team.
Martin Day is a Director of Survey Galaxy Ltd a web site that allows anyone to create, design and publish online surveys. For more information please visit http://www.surveygalaxy.com