What is Market Research?

Let’s say you’ve just started a business and you want to tailor your marketing strategy to speak directly to your target audience. Or you’ve designed a product, but you don’t know what type of people could most benefit from its use.

Market research is gathering information about your target audience. It provides detailed insights into latest consumer and buying trends, demographics and provides an understanding in the target market’s preferences. Business owners can leverage market research to develop creative efforts that specifically address their audience’s needs, in turn developing a connection with their audiences that may influence their buying trends.

Why do I need market research?

Market research is essential in not only identifying who to market your product and services to, but it also helps you understand the “why” of your target audience. When you know the intricacies of the wants and needs of your audience, you can adjust your strategies to speak directly to their experiences.

What if I already know my target audience?

Great! But what if there are individuals who fall outside of the target audience you’ve defined. By not having a comprehensive understanding of who may benefit from your product or service, you’re limiting your amount of potential clients or consumers. Never assume you know everything about your audience, because you could be missing out on key engagement opportunities.

How do I start?

Inclusive Market Research Group can assist you with your market research needs. Through our implementation of surveys, interviews or focus groups, we can help you gain a better understanding of your target audience to help create a genuine connection with your future consumers!