Companies introduce new products all the time. Whether those products succeed or fail often depends on the processes that went into their development rather than the usefulness of the products themselves. A profitable (i.e., successful) product is one that reaches consumers in the right place and the right time, as well as satisfies a specific..
In the first quarter of 2018, the manufacturing industry “contributed $2.33 trillion to the U.S. economy.” It’s an interesting fact, especially if you know that the majority (approximately 98%) of U.S. manufacturers employ less than 500 employees. While automotive and aerospace giants like General Motors, Ford and Boeing might immediately..
Information is power, and in the business world, it also frequently equals money. The more facts and figures a company can gather about how and when and why people use its products or services, the better it’s able to meet and exceed their demands, hopefully generating profits along the way. Harnessing effective information is made easier and..
In the business world, questions of “who” and “what” and “why” and “how” help shape decisions that hopefully satisfy consumers, secure new customers and improve bottom lines. But obtaining the right information to facilitate those decisions depends on whether or not you’re asking the right questions to the right people in the right ways.
Unless you have a crystal ball, it’s hard to predict just what the future will hold. And knowing what the future holds isn’t a concern that only worries individuals. For businesses, it’s a question whose answer often means the difference between them staying afloat and sinking like a stone in a wildly turbulent sea of competition.
So how does..
With quality customer engagement replacing the traditional ad campaign as the main stimulus to sustainable brand awareness and greater customer satisfaction, the commonplace customer experience survey is assuming an increasing level of importance in a company’s overall business strategy. No longer is it used as a simple indicator of past..
It’s easier than you might think to have a good idea. But it’s harder than you think to make it work. For startup companies, it’s the execution of the vision that’s the difficult part of their business plan, not coming up with the vision itself. Solid market research, however, can help these fledgling businesses understand the market and, thus,..
There’s a saying in the business world: “If you’re not changing, you’re dying.” A bit dramatic, maybe, but it’s a sentiment that smart businesses take to heart if they want to stay relevant in a quickly and constantly evolving world. One of the best ways that companies can stay abreast of trends and monitor their own status within a market is..
The field of market research is a swiftly evolving one as social media platforms and other burgeoning technologies allow massive amounts of information to be gleaned in decreasing amounts of time and effort. But while big data has changed how researchers around the world collect and analyze information, it hasn’t changed the ways researchers ..