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Assess your market and take advantage of it. Are you interested in gaining the inside track on your competition? Market Research might be the right choice for your organization. These types of surveys provide targeted insights into consumer perspectives and can be used to guide an organizational strategy that helps your organization develop or maintain a competitive advantage.
Market Research helps your organization access critical key information and features, such as desirable product/service attributes, likelihood of using a specific product/service, intended frequency of use, effectiveness of marketing or advertising strategies, and the extent to which a product/service adequately meets the needs of a target group. The information gathered during this process allows you to better assess market size, market needs, and the strategy your organization should adopt to meet customer needs. Market Research has other uses as well, such as to clarify or communicate product or service offerings to a target market.