Increase Your Profit by Integrating Market Research Throughout Your Organisation
Market research can be defined as the method of gathering data on goods and services to determine whether they will succeed in the marketplace and establish if there is a viable business opportunity. From a CEO, Finance Director, Human Resources Director and Marketing Coordinator viewpoint Market Research can be adapted to fit a wide range of uses. Decision making is crucial for a CEO and researching the market gives valuable insight into which direction a company should travel. It plays a similar role for a Financial Director when assessing the financial viability of a campaign. In the Human Resource sector employee appraisals and satisfaction surveys are some of the ways market research is implemented to maximise the output of internal customers. Market research is an absolute must for a Marketing Coordinator. It is used to promote campaigns effectively and manage all areas of marketing into one well-oiled machine.
Market Research Whitepaper: Key Points
- Market Research from a CEO’s Perspective Market Research is a focal point in strategic plans developed by a CEO.
- Market Research from a Finance Perspective A Financial Director must use research to evaluate competitors and budget allocation.
- Market Research from a HR Perspective A Human Resource manager carries out satisfaction surveys periodically and this research improves the harmony of a workforce.
- Market Research from a Coordination Perspective Understanding the market a company is in and adapting your strategies to optimize this market.