In the B2C space, the importance of smart and effective business strategies cannot be underestimated. However, despite this axiom, many businesses — especially smaller firms — struggle at times to generate the quality, reliable information they need to develop and optimize their strategies. As a result, they are forced to react to events after..
Psychology Today defines empathy as “the ability to recognize and share the emotions of another person.” Or for those who prefer their definitions from the literary world, there is always Harper Lee’s classic description from To Kill a Mockingbird: “you can’t really know a man until you stand in his shoes and walk around in them.”
Conducting consumer research can be one of the smartest choices a business could make because of its ability to yield significant return on investment.