Which Uk Markets Should Be Researched

Mather Digital Marketing - Learn about Marketing Online - Which Markets Should Be Researched

Which markets should be researched

The paradox of market research is that in a competitive business environment what each firm does, and needs to do, depends on the present and future actions of its competitors. The result is a competitive spiral of mutual action and reaction which may move so fast that in many cases a firm cannot afford to postpone the taking of crucial decisions until after the results of research are available; research which may well be outdated by the time it appears. In the words of Alan Hedges, research and marketing director of S. H. Benson, "you can't stop the world and say you want to find out what's happening". It is possible to avoid the twin dangers of taking too long on research and of eschewing it altogether and relying on good old-fashioned hunches. But this means facing up to the problem of trying to decide which products and problems can usefully be researched without the subject changing out of all recognition by the time the findings are available.

More - Product Planning