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  Discussions  Strategy & Planning  Importance of M...
 Importance of Market Research in a business plan
 
 3/30/2009 5:59:09 PM
User is offlineeric@marketest.co.uk
3 posts
www.marketest.co.uk


Importance of Market Research in a business plan

Market Research is really important and it will help you to have a more relevant business plan.

It’s an essential stage in the business start-up process but many entrepreneurs don’t do it – not least because of the supposed cost. Market research determines the feasibility of a project and it’s a way to adapt a business’ strategy (communication, pricing policy, products range…)


It’s important to carry out market research in order to:
· to confirm an idea
· to make a project credible
· to professionalize the setting-up approach
· to convince financial partners and others

Online research has revolutionised market research, providing both opportunities and challenges to researchers and users of research.
Online market research has grown rapidly in recent years as a key form of data collection for primary research activities. Online market research offers both large and small research focussed organisations the chance to eliminate the costs involved with face-to-face, postal and telephone data collection. Organisations have begun to realise also the speed and data reliability offered by the internet.

 

Marketest is a leading online market research company for business start-ups.  We primarily work for start-up entrepreneurs and companies launching a new product or service.

Starting a business? Test the market first!

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