Monday, April 22, 2024

A World Without Market Research?

If companies had to rely on 100% instinct about the market to which they sell, the damage it could do to their bottom line is significant. As people we are given to be creatures of habit, but these habits can change slightly or radically depending on what we find out as we go through life. A company could easily get a rude awakening for taking public support for granted, and it is important to ensure that public opinion is collected and analyzed rather than simply assumed. Without market research, it is unlikely that we would see companies reinstate popular products which they had discontinued due to what may be a temporary or artificial shift in opinion.

Without the data gained from paid online surveys, companies may well continue to labor under false impressions given by a short-term change in public mood, and it has been seen that companies who have mistaken people’s opinions like this have ended up losing a significant amount of public support. However, when a company reinstates a product that has been discontinued, they end up gaining more public support for having the decency to admit they were wrong and that the public has a voice worth listening to.

If you want to make your voice heard, the quickest and most effective way is to take part in online surveys. It is easy to sit several surveys in a period of a few hours, and much like in an election, it means that your voice will be added to those of several others. It is a combination of democracy and marketing in action.