In this brief slideshow, we take a look at the reasons to do market research as well as reasons not to. Explore those reasons and make your decision.

2. The world is changing
as we speak and the gap between businesses
and people is shortening day by day. This is
permitting better understanding of the
needs, dreams, and wants of the public.
So why would some people want
to do Market Research anyway?

3. Reason to
No. 1
Recognizing
movement
in the
market
Thedemand in the market is
constantly progressing, especially
more when the line blurs between
necessity and luxury.
In less than a decade, we have come
from a society that sees a phone as a
luxury to where many people own
more than one phone at a time.
The change is rather unpredictable
and it is good to have some foresight
on that.

4. Reason to
No. 2
Helps to
make a
preliminary
decision
Amarket research is a good test-drive
for the product’s appeal to the market
before its proper launch. Any issues can
be amended through getting real life
feedback from the people.
If the reaction is bad and there is
nothing they can do to change that, it
may be less costly to withdraw the plan
at this stage.

5. Reason to
No. 1
High
Cost
It is common for these researches to be
done on a continuous basis, so as to keep
a good track on market reactions. This
can hurt the budget, especially if you hire
a professional.
However, there is no denying in the long
term benefit of being actively aware of
the market situation to that of your
product.

6. This is more of a risk for researches not
done by experienced professionals.
Without proper training and knowledge,
a self-attempt at researching may not be
as ideal if done professionally, whether it
was due to the wrong questions or
approach, and possibly with a lot of time
and money wasted.
Reason to
No.2
It may
mislead you if
it is not done
appropriately

7. Ultimately, the decision to take this route or
not is entirely up to you. We have offered you
the view from both aspects, so now it’s your
turn to think about it.
If you are thinking of going ahead, check out
our other slides on Pros and Cons of Hiring
Professionals and Methods to Conduct Your
Own Market Research.

8. This slide is brought to you by
Simply Empowering