This white paper is a how-to guide for small businesses looking to access the value of their market, highlighting common uses of market research, strategies implemented into business plans, case studies for further discussion and the different elements of market research helping answer related business questions.
“The misconception that large corporations are the only commissioners of market research is largely due to lack of awareness,” says Sabrina Renee Kinckle, Team Lead - International Business Development at Euromonitor.
Both large corporations and small start-up businesses have use for market research including forecasting, new product launches or market entry. However, businesses of all sizes focus on different aspects of research to find successful strategies. Larger brands may focus on breadth of data while small or medium enterprises focus on the types of methodology used or accessibility to analysts.
“Working with small and mid-sized businesses, I have witnessed first-hand the power market research has on these companies. We’ve helped businesses create expansion plans and export strategies with much success,” according to Kinckle. “Better understanding the use and value of market research can help businesses build educated business strategies and increase market share and growth worldwide.”