Read this blog post to find out if your business should choose syndicated research or custom research.
As you would already know, market research is an essential tool that is an absolute requisite for a winning business strategy. When it comes to research, organizations are confused if they should start with syndicated research or custom research. Which type of research should you use and why? Let us find out.
To start with, syndicated research focuses only on specific types of data like surveys, product launches analysis or scan data. This gives companies a bigger picture to look at and showcases long-term strategic insights to the company. Syndicated research is a cost-effective means to obtain a broad view of your product/service environment.
If your business opts for syndicated research, you can expect better overall market insights, good brand positioning and effective market strategy. Not only will you be able to understand the size of the population and the spend in a given market, but you can also stay up-to-date with macro-level trends.
Did you know that syndicated research can help you develop business building strategies, provide you with in-depth market information and offer actionable insights? Read on to find out why you must use syndicated research.
Did you know that measuring the effectiveness of your brand, building up competitive intelligence and creating sustainable business strategies is an absolute must if you want to make a mark in your industry? The best way to go about this is to invest in syndicated research. Through research, you can find out about brand positioning, emerging trends, product usage and customer behaviour.
With such detailed information, your company can make precise data-driven decisions to make sure that you get the maximum ROI (Return on Investment). You will also be able to make the most out of your marketing spend, focus more on the right market segments and even adequately prepare for changes/developments in the market.
Understanding syndicated research
Syndicated research is the research conducted in an area that may be of interest to multiple organizations within a specific industry. Most often, the market research firm conducting the study will leverage its industry expertise and experience to determine the scope and subject of the study. One of the biggest benefits of syndicated research is its cost efficiency, as the same research results will be purchased by several companies. This spreads out the cost of performing the research among several organizations. Investing in syndicated research is a cost-effective way of gaining valuable market insight.
Apart from developing business building strategies, syndicated research can also provide you with actionable insights. With in-depth information on your market, customer behaviour, emerging trends, product usage and other emerging trends, you can strengthen your company’s position, plan business strategies and take actions that enhance business growth and bring an increase in revenue. Continue reading →
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