Why competitor analysis is a must in Business? Top 8 benefits of competitor analysis What is competitor analysis? Competitor analysis is a strategic process that involves evaluating the strengths and weaknesses of your business’s competitors in order to formulate effective strategies and make informed decisions. By understanding your competitors’ strategies, market positions, and performance metrics, […]

What is Market Segmentation? Types, Benefits & Best Practice Market Segmentation: Market segmentation is the process of dividing a broad target market into smaller, more manageable segments based on shared characteristics, behaviors, needs, or other relevant criteria. The purpose of segmentation is to enable businesses to better understand their customers, tailor their marketing efforts, and […]

How AI can Help in Market Research? Artificial intelligence (AI) can significantly enhance various aspects of market research by providing valuable insights, improving efficiency, and enabling more data-driven decision-making. Here are some ways AI can help in market research: Data collection and analysis: Artificial Intelligence (AI) can automate the collection and analysis of vast amounts […]

What is Category Mapping in Market Research? Why is it necessary? Meaning of Category Mapping Category mapping in market research refers to the process of organizing, classifying, and grouping various products or services into specific categories or segments based on common characteristics. It involves creating a hierarchical structure that allows researchers, businesses, or marketers to […]

Top 6 market research trends to watch out for in 2023 The following trends should provide you with a good starting point to explore the market research landscape in 2023. 1.Increased Emphasis on Artificial Intelligence (AI): AI was already transforming the market research industry, and this trend is expected to continue in 2023. AI-powered tools […]

Conducting CLTs & Market Research for alcohol brands Conducting CLTs (central location tests) and market research for alcohol brands can be a valuable tool in gathering insights on consumer preferences, attitudes, and purchasing decisions. CLTs involve recruiting participants to try out a range of products and provide feedback on their experiences. This allows companies to […]