Market Research is incredibly important in the success of a business. As such, it’s important to consider the most common market research mistake prior to engaging in this activity. Most Common Market Research Mistakes 1. Confusion over the best method to use 2. Ambiguous questions 3. Not knowing exactly what a company is even looking […]
Tag: Market Research
Background LEGO has long found success with using market research to illuminate consumer tastes and preferences. In the early 2000s, the company was directionless and failing, so LEGO turned to market research to try and rebuild their brand. This turned out to be the right decision, because research into their target market of young boys […]
Background As of 2018, over 80 percent of Americans consume fast at least one time per week, but in the past few years, Americans have moved towards buying food products labeled as containing natural or clean ingredients. As a result, many fast food customers have demanded fresher ingredients and lower-calorie options from their favorite chains. […]
Background on Apple Inc. Apple Inc. is a multinational technology company based in Cupertino, California that has been remarkably successful. The extreme level of success achieved by the company may lead some to believe that its products do not require marketing. However, Apple has implemented a variety of marketing strategies, and still spends a considerable […]
Background Starbucks Corporation is a multinational coffeehouse chain headquartered in Seattle, Washington. For younger generations, Starbucks has simply appeared to always be around and always be successful, but older generations witnessed how Starbucks’ high value for market research helped it become the largest coffeehouse chain in the world. Starbucks’ Market Research Even with Starbucks’ fame, […]
What is Marketing Intelligence? Marketing Intelligence refers to all of the information relevant to a company’s market(s) or target market(s) that the company can use to make more effective decisions about their participation and particular role within one or more markets. This intelligence is acquired through market research. At the global level, the outcome of […]