{"id":2283,"date":"2018-09-03T10:09:00","date_gmt":"2018-09-03T10:09:00","guid":{"rendered":"https:\/\/borderlessaccess.com\/blog\/?p=2283"},"modified":"2025-06-17T09:59:07","modified_gmt":"2025-06-17T09:59:07","slug":"5-ways-market-research-can-help-a-business-succeed","status":"publish","type":"post","link":"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/","title":{"rendered":"5 Ways Market Research Can Help A Business Succeed"},"content":{"rendered":"<span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>\n<p style=\"font-size:18px\"><p style=\"font-size:18px\">The global market research industry was worth $44.3 billion in 2015! The biggest spenders are consumer goods segment giants like P&amp;G and Unilever, who pour in millions of dollars into consumer research every year. So, if your company has been shying away from investing in market research because it sounds like an unnecessary investment, think again. Here are 5 ways how market research can help your company grow.<\/p><br><\/p>\n\n\n\n<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_72 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 ' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/#1_It_helps_you_make_informed_decisions\" title=\"1. It helps you make informed decisions\">1. It helps you make informed decisions<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/#2_It_helps_you_keep_track_of_changing_market_trends\" title=\"2. It helps you keep track of changing market trends\">2. It helps you keep track of changing market trends<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/#3_It_helps_with_expanding_your_business\" title=\"3. It helps with expanding your business\">3. It helps with expanding your business<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/#4_It_can_help_you_improve_your_brands_standing\" title=\"4. It can help you improve your brand\u2019s standing\">4. It can help you improve your brand\u2019s standing<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/#5_It_can_boost_your_marketing_efforts\" title=\"5. It can boost your marketing efforts\">5. It can boost your marketing efforts<\/a><\/li><\/ul><\/nav><\/div>\n<h2 class=\"wp-block-heading\" id=\"h-1-it-helps-you-make-informed-decisions\" style=\"font-size:26px\"><span class=\"ez-toc-section\" id=\"1_It_helps_you_make_informed_decisions\"><\/span><strong>1. It helps you make informed decisions<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"font-size:18px\"><p style=\"font-size:18px\">When you are investing in a new product or service, it\u2019s never a good idea to take a chance. Market research lets you understand what your customers want, how they want it and when they want it. When you conduct market research, you give your customers the power to choose \u2013 you democratize the decision making so to speak. This not only makes your job easier but cuts down the risk factor significantly and improves the chance of success.<\/p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-2-it-helps-you-keep-track-of-changing-market-trends\" style=\"font-size:26px\"><span class=\"ez-toc-section\" id=\"2_It_helps_you_keep_track_of_changing_market_trends\"><\/span><strong>2. It helps you keep track of changing market trends<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"font-size:18px\"><p style=\"font-size:18px\">If you think conducting market research is only required before launching a new product, you would be wrong. It is just as necessary to keep your existing offerings fresh and relevant. The needs and tastes of your customers change constantly, influenced by a myriad of external factors that you cannot predict. That\u2019s why keeping pace with changing trends is key to staying ahead of your competition. And the best way to achieve this by relying on market research.<\/p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-3-it-helps-with-expanding-your-business\"><span class=\"ez-toc-section\" id=\"3_It_helps_with_expanding_your_business\"><\/span><strong>3. It helps with expanding your business<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"font-size:18px\"><p style=\"font-size:18px\">Stagnation is death! Change is necessary not just for growth, but to stay alive. And one of the best ways to grow your business is through expansion and diversification. And these are not possible without first studying and understanding the market thoroughly. Market research lets you take the right decisions, making your growth plans more meaningful and effective.<\/p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-4-it-can-help-you-improve-your-brand-s-standing\" style=\"font-size:26px\"><span class=\"ez-toc-section\" id=\"4_It_can_help_you_improve_your_brands_standing\"><\/span><strong>4. It can help you improve your brand\u2019s standing<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"font-size:18px\"><p style=\"font-size:18px\">Do you know where your brand stands today against your competitors? How do your existing and potential customers perceive you? Knowing the answers to these questions is critical for your business as it can enable you to take the necessary actions to improve your brand\u2019s standing in the market. It can help you change what your customer\u2019s think of your brand. You wouldn\u2019t want your alcohol beverage business to be recognized primarily as a bottled water company, would you?<\/p><br><\/p>\n\n\n\n<h2 class=\"wp-block-heading\" id=\"h-5-it-can-boost-your-marketing-efforts\" style=\"font-size:26px\"><span class=\"ez-toc-section\" id=\"5_It_can_boost_your_marketing_efforts\"><\/span><strong>5. It can boost your marketing efforts<\/strong><span class=\"ez-toc-section-end\"><\/span><\/h2>\n\n\n\n<p style=\"font-size:18px\">Most often, it takes time for you to realize whether or not your brand and product marketing efforts have delivered. But why wait and take that chance, which could otherwise prove to be an expensive mistake. By conducting a market study, you can understand, almost immediately, whether or not your marketing campaigns are having the desired results. This way you\u2019ll know when, where and how to spend your marketing budget to maximize the results.<\/p>\n\n\n\n<p><\/p>\n\n\n\n<p><\/p>\n\n\n\n<p style=\"font-size:18px\">Clearly, market research cannot be considered a non-necessity. Instead, it\u2019s an indispensable tool that\u2019s required to help your business succeed. If you wish to learn how market research can benefit your business more specifically,\u00a0Borderless Access\u00a0can help you. With over 3.71 million proprietary panel respondents spread across 34 countries and clever <a href=\"https:\/\/borderlessaccess.com\/\" target=\"_blank\" rel=\"noreferrer noopener\">digital market research<\/a> products and solutions, we can help your business realize your untapped potential.<\/p>\n","protected":false},"excerpt":{"rendered":"<p><span class=\"span-reading-time rt-reading-time\" style=\"display: block;\"><span class=\"rt-label rt-prefix\">Reading Time: <\/span> <span class=\"rt-time\"> 2<\/span> <span class=\"rt-label rt-postfix\">minutes<\/span><\/span>The global market research industry was worth $44.3 billion in 2015! The biggest spenders are consumer goods segment giants like P&amp;G and Unilever, who pour in millions of dollars into consumer research every year. So, if your company has been shying away from investing in market research because it sounds like an unnecessary investment, think again. Here are 5 ways how market research can help your company grow. 1. It helps you make informed decisions When you are investing in a new product or service, it\u2019s never a good idea to take a chance. Market research lets you understand what&#8230;<\/p>\n","protected":false},"author":21,"featured_media":2306,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[119,138,139,118,137],"class_list":["post-2283","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-market-research","tag-market-research","tag-market-research-industry","tag-marketing-research","tag-mr-panels","tag-research-panels"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v22.1 (Yoast SEO v22.1) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>5 Key Benefits of Market Research for Business Success<\/title>\n<meta name=\"description\" content=\"Can market research help a business grow by predicting market trends &amp; supporting marketing efforts? Boost your brand with market research.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/borderlessaccess.com\/blog\/5-ways-market-research-can-help-a-business-succeed\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"5 Ways Market Research Can Help A Business Succeed\" \/>\n<meta property=\"og:description\" content=\"Can market research help a business grow by predicting market trends &amp; supporting marketing efforts? 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