What the advantages from the marketing research finding provides to the business?
Many companies conduct research to find out its strengths, weeknesses and opportunities in their business. What they learn from key finding and how they apply to their products, brand and overall business.
Marketing research helps a company find out whether or not they have a viable opportunity or not, when they are considering either a new venture, or a new product or service.
It also helps a company find out where they might be lacking, so they can improve their services and/or products.
Market research is also used to guide businesses in their advertising campaigns. They might first do a focus group to test some possible ideas for some advertising. Then, once the ads are running, they might research the awareness and perception of the ads that they are running.
I hope that helps! Take care.
Great answer prairieprincess, I also used market research for my online ventures, when stocking new products. The research helped me obtain an accurate estimate as to the quantity of stock I should ship in from suppliers. The last thing you want is to have excess stock, and having to practically give it away to free some space.
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