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.