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Custom Market Research

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Custom Market Research

Custom market research is used to meet the exact requirements of a company that cannot be met by performing syndicated or off-the-shelf research. Custom research is used during the descriptive research phase, making it effective at gaining specific insights into a target market, company or industry. Once these insights have been identified, the data can be used to improve the product and gain an advantage over their competitors.
Custom market research is often kept confidential as it is most likely to only be of use to a specific situation or product – making it only relevant to the company and its competitors. Market research companies collect primary data using methodologies such as interviews and online surveys because they can be changed to match the distinct requirements set. However, collecting primary data is often time consuming and costly, making custom market research the same.
There are many insights that custom market research can uncover due to its ability to be specific to anything necessary. These insights include: competitive intelligence, market size and voice of market. The nature of custom market research will allow for the data to be acted on quickly, in order to stay ahead of the competition.

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