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Market research objectives
Market research is an effective tool to assist your business planning. It is about collecting information that provides an insight into your customers' thinking, buying patterns and location. In addition, market research can also assist you to monitor market trends and keep an eye on what your competition is doing.


 

Successful businesses undertake market research on a regular basis to:

1) Define market research objectives
2) Find sources and types of information
3) Collect, analyse and act on the results
4) Identify potential new customers
5) Learn more about existing customers
6) Better understand their competitors
7) Test new markets
8) Identify performance, pricing or promotion opportunities. 

It`s important to clearly define your objectives in order to achieve useful results from your research. Clearly defined objectives will help identify the best methods to conduct your research. You will also need to determine the time frame and budget you can allocate to undertake the research. You might consider using a professional market research company to assist you.
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