7 reasons why you should be conducting your own market research.pdf

7 reasons why you should be
conducting your own market
research
MARKET RESEARCH
Last updated: 13 May, 2020
Conducting your own market research on a regular basis is more
important than ever if businesses want to keep up with current
market trends and maintain their competitive edge. Because
today’s market trends are constantly shifting and changing.
Whether you are starting a new business, acquiring a new
business, or expanding, conducting market research is imperative
to understanding your target market, increasing sales, and
spearheading business growth.

Market Research on mobile devices
1. Identify potential new customers
In order to identify potential new customers, you first must
understand who your customers are as well as key demographics.
When looking at your product or service, it’s important to consider
questions, such as:
● Who will use your product or service?
● What is the age range of your customers?
● Are they predominantly male or female?
● What is their income level, marital status, and
geographical location?