{"id":4157,"date":"2022-10-25T13:56:13","date_gmt":"2022-10-25T13:56:13","guid":{"rendered":"https:\/\/www.watchmycompetitor.com\/resources\/?p=4157"},"modified":"2024-03-27T10:24:42","modified_gmt":"2024-03-27T10:24:42","slug":"the-5-reasons-to-use-market-research-and-competitive-intelligence","status":"publish","type":"post","link":"https:\/\/wmc-nonprod.com\/resources\/the-5-reasons-to-use-market-research-and-competitive-intelligence\/","title":{"rendered":"The 5 Reasons To Use Market Research And Competitive Intelligence"},"content":{"rendered":"\t\t
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It\u2019s been around 100 years since market research was first used. In that time, it has risen in prominence to become a standard mechanism for most large organisations and SMEs.The reason behind its popularity is that it gives businesses the opportunity to better understand what your target audience thinks and feels about your brand, product, messaging and more. <\/span><\/p>

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Furthermore, it can also be used to ascertain how they perceive your competitors\u2019 propositions and activities. Therefore, helping you to make objective comparisons and draw conclusions which in turn can inform your future strategies.<\/span><\/p>

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Typically, it consists of qualitative and quantitative research using surveys, telephone interviews, focus groups, face-to-face interviews, group and individual exercises and more. <\/span>It often focuses on answering set questions about set audience groups such as the following:\u00a0<\/span><\/p>

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