Market Research for Small and Medium Retailers

Research is as important for small and medium-size enterprises (SMEs) as for larger retailers. But the SMEs often may have less experience in gathering and analyzing information.
Consider these observations from Surveygoo founder Neil Carey:
“When it comes to your business’ success, market research is crucial. Market research gives us a close insight into the exact needs and wants of our customers – it allows entrepreneurs to study and survey which products and services are worth having on or bringing to the market and which are not. The data and information collected from market research helps you and your business with future innovations while also helping to stay ahead of your competition. The people at Surveygoo have created this infographic that outlines the importance market research and why it is so significant in helping your business grow. Let’s check it out!”

 
mr-inforgraphic
 

This entry was posted in Part 1: Overview/Planning, Part 2: Ownership, Strategy Mix, Online, Nontraditional, Part 3: Targeting Customers and Gathering Information, Part 4: Store Location Planning, Part 5: Managing a Retail Business, Part 6: Merchandise Management and Pricing, Part 7: Communicating with the Customer, Part 8: Putting It All Together and tagged , , , , , , , , . Bookmark the permalink.

2 Responses to Market Research for Small and Medium Retailers

  1. Pingback: Market Research for Small and Medium Retailers ...

  2. Vic Crain says:

    I enjoy working with small business. While the projects aren’t a lucrative, there is tremendous satisfaction in knowing that the research will have real impact on the business. Unfortunately, in the small business sector, we have competition from sources like outsource.com, which encourage prospective clients to connect with people with perhaps questionable credentials and create unrealistic budget expectations. You can’t imagine how many RFQs I’ve seen from small businesses saying they have less than $500 to spend. How many hours of time from a competent professional will that buy?

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