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What do companies benefit from investing in market research surveys? |
Surveys benefit people like you and me because we get rewarded for completing them. We can have muliple accounts with the same survey site and lie through our teeth as much as we want. We can randomly click away without even knowing or caring which company we're defrauding. The costs of rolling out a new (or a new-and-improved [supposedly!]) product can be astronomical. Make one mistake, and your investment in the new product is wiped out. So it's far, far better to make a smaller investment to test-market a product first, before doing a huge regional or national product roll-out and potentially having it bomb. i think a bad headache. It tells them if there is interest in their product. One area of the country or a particular age group might be more likely to buy it than another. They get information on their products and services even if a certain percentage lies through their teeth on a particular survey. There is a mathematical calculation that they will use to discount all bad information. They can see how to screw Americans out of money. That is the point of Market Research, to trap people into buying their product, one way or another. they get richer every time they have a research, and we get a crappy product. so they can check how their product is received by the market and then look to make any changes to operations as necessary The main reason for a business to invest in a market researcher is to get an overview of the market and to see how well their product/service is doing and if the product/service needs to be improved or altered. |
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