It has become difficult to sell or produce products or services without market research, even more so since COVID-19 disrupted demand and supply.
A report by Arizton Advisory and Intelligence confirms how market research can help solve business challenges efficiently, and why it is imperative in today’s climate. Consumer behaviour driven by COVID-19 is impacting how they work, how they buy and entertain themselves.
These behaviours affect various types of products and services in the market. According to reports, innovations and trends of a particular product have proven to boost profits in the long term.
For example, Lego’s in-house researchers through market research, created a product that would greatly appeal to girls to boost sales of female pop toys. To run data-driven campaigns, hire market research firms, consult experts, and have an objective view of the data, among other things.
Discover the top organisations in your market and industry that have customers buzzing using YouGov BrandRankings.
[4 minute read]