40% of business initiatives fail because of poor data quality. DesignRush reached out to experts to discover why businesses should prioritize market research in 2022.
MIAMI, March 31, 2022 /PRNewswire-PRWeb/ — Gartner reports that poor data quality is why 40% of business initiatives fail. Since good data quality matters in identifying opportunities and risks, organizations need proper market research to make informed decisions that are crucial to the success of their business endeavors.
DesignRush, a B2B marketplace connecting businesses with agencies, leveraged its 13,000-agencies-strong network for quick insights – or "QuickSights" – on the reasons businesses should prioritize market research in 2022.
1) TO DEVELOP DATA-DRIVEN STRATEGIES
In the opinion of Rumani Saikia Phukan, director and marketing head at MarketGenics, performing market research enables businesses to understand their target audience and develop strategies accordingly.
"It's important to recognize that building a great product often doesn't translate into a successful business," said Phukan. "A common mistake most businesses make is not taking the time to understand the market or target audience. With market research, you can keep track of your target customers' preferences, likes, dislikes, attitudes and buying behaviors. There is the need for data-driven decisions for improved marketing, sales and operations strategies for 2022."
2) TO PERSONALIZE THE CUSTOMER JOURNEY
Survience Research and Consulting LLP's Director and Managing Partner, Prajin Ravindran, shares the same insight and adds that market research also helps develop a personalized customer journey.
"Whether exploring a market, investigating pricing, launching a new product or [innovating] existing products, you cannot just shy [away from] research," said Ravindran. "[Especially] in the wake of COVID-19 pandemic and its aftermath, [where] there is a whole new array of customer interactions to understand experience and behavior."
3) TO FIND OBJECTIVE MARKETING SOLUTIONS
Terri Williams, a creative director, content writer and market researcher at PM Solutions, concludes the list by claiming that market research also helps businesses find solutions through unbiased data."
"Good business relies on good market research," said Williams. "[…Market] research [helps collect] unbiased data and [interpret] that data into information that can help solve marketing problems."
DesignRush released the March list of the top market research companies that help organizations ensure data quality and make strategic decisions for a successful business:
1. PM Solutions – pmsagency.com
Expertise: Advertising, Branding, Content Marketing and more
2. Mindcircus – mindcircus.agency
Expertise: Digital Marketing, Social Media Marketing, Branding and more
3. JS-Interactive – js-interactive.com
Expertise: Digital Marketing, Web Design, SEO and more
4. MarketGenics – marketgenics.co
Expertise: Market Research, Product Concept Test, Brand Equity Research and more
5. Survience Research and Consulting LLP – survience.com
Expertise: Market Research, Consulting, Expert Networking and more
6. Something About Marketing – somethingaboutmarketing.com
Expertise: Social Media Marketing, Advertising, Website Design and more
7. Vision One – visionone.co.uk
Expertise: Advertising Research, Brand Research, Social Research and more
Brands can explore the top market research companies by location, size, average hourly rate and portfolio on DesignRush.
DesignRush.com is a B2B marketplace connecting businesses with agencies through expert reviews and agency ranking lists, awards, knowledge resources and personalized agency recommendations for vetted projects.
Maja Dukadinovska, DesignRush, 8008565417, firstname.lastname@example.org
(Bloomberg) — U.S. President Joe Biden’s plan to tackle record gasoline prices with an unprecedented release of emergency oil reserves may stifle domestic crude drilling just when it’s needed most. Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeNever Had Covid? You May Hold Key To Beating the VirusPutin Says Gas Exports to Be Halted If Ruble Payments Not MadeU.S. Criticizes India on Russia Talks as Lavrov Visits DelhiBiden Team Weighs a Massive Release of
Toyota and a proposed class of hybrid-vehicle owners have settled a class-action lawsuit in the Eastern District of Texas. The case had originally been set for trial this July before the court-ordered mediation for the parties.
BERLIN/LONDON (Reuters) -Russian President Vladimir Putin is demanding foreign buyers pay for Russian gas in roubles from Friday or else have their supplies cut, a move European capitals rejected and which Germany said amounted to "blackmail". Germany, the most heavily reliant on Russia, has already activated an emergency plan that could lead to rationing in Europe's biggest economy.
The Biden administration isn't rethinking its decision to cancel the Keystone XL pipeline in response to rising oil prices, says the White House's top economic advisor.
(Bloomberg) — Henry, a fund manager, is currently sharing a single bathroom in his office in Shanghai’s financial district with more than 20 people, none of whom have access to a shower. He doesn’t know how much longer he’ll have to do this for.Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeNever Had Covid? You May Hold Key To Beating the VirusPutin Says Gas Exports to Be Halted If Ruble Payments Not MadeU.S. Criticizes India on Russia Talks as Lavrov Vis
(Bloomberg) — Freeport-McMoRan Inc. and Goldman Sachs Group Inc. share a bullish outlook for copper. They appear to diverge, however, on how much of an impact higher prices would have on supply growth.Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeNever Had Covid? You May Hold Key To Beating the VirusPutin Says Gas Exports to Be Halted If Ruble Payments Not MadeU.S. Criticizes India on Russia Talks as Lavrov Visits DelhiBiden Team Weighs a Massive Release
On the outskirts of the eastern Venezuelan port town of Guanta, hundreds of trucks line up everyday to unload tons of scrap metal, part of the government's attempt to turn waste into a source of foreign currency. The gathering and sale of scrap has been booming due to the financial needs of President Nicolas Maduro's administration, crippled by low oil production as a result of years of under-investment in the industry and obstacles to selling its most lucrative export due to U.S. sanctions. "Venezuela is going to get lighter, because they're removing all the scrap," said Douglas Lugo, a truck driver on the outskirts of Guanta who used to work in the oil industry before he started to transport scrap material.
Russia’s Vladimir Putin said “unfriendly states” would have to pay for their gas in rubles, not euros or dollars. His follow-through was ambiguous.
LONDON (Reuters) -Europe vowed to stay united against Russia's demand that they pay for its gas in roubles, as the threat of an imminent supply halt eased on Friday. European capitals have been bracing for a disruption to gas imports as Russian President Vladimir Putin seeks retaliation over Western sanctions for the Feb. 24 invasion of Ukraine.
There's no one-size-fits-all approach. But to put your head in the sand is perhaps the worst strategy of all.
The Hutto Independent School District board of trustees on March 31 unanimously voted to accept an application for Chapter 313 tax incentives for a possible Applied Materials research and development facility in the fast-growing suburb northwest of Austin. Chapter 313 is a controversial state incentives program used for new manufacturing and energy projects.
Edmunds Executive Director of Insights Jessica Caldwell joins Yahoo Finance Live to discuss supply chain issues amid chip shortages, weak car sales, the outlook for EV transitions as gas prices increase, and rising automotive prices.
The steel industry is part of the basic materials sector and consists of companies involved in steel production, mining, and related activities. Although steel historically has been a major U.S. industry, the number of steel mills that produce the metal has declined sharply in the past several decades due to foreign competition. The World Steel Association forecasts that steel demand will continue to increase this year, but at a much slower pace, rising 2.2%.
Kimberly Schneiderman, senior practice development manager at Randstad RiseSmart, explains why many retirees decide to return to the labor force.
(Bloomberg) — Russia’s huge gold industry is searching for new ways to sell its metal, such as exporting more to China and the Middle East, as sanctions choke off its traditional sales routes.Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeRussia Says Ukraine Choppers Made Rare Cross-Border StrikeUkraine Update: U.S. Steps Up Military, Defense AssistanceNever Had Covid? You May Hold Key To Beating the VirusWill Smith, Facing Discipline Over Slap, Quits Fil
(Bloomberg) — After years of breakneck growth that catapulted Chinese tech firms into stock market giants, a number of strategists are coming to terms with the new reality of a sector beset by slower expansion and lower earnings. Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeRussia Says Ukraine Choppers Made Rare Cross-Border StrikeUkraine Update: U.S. Steps Up Military, Defense AssistanceNever Had Covid? You May Hold Key To Beating the VirusWill Smith,
The largest-ever release of oil from the country's strategic reserve comes as average gas prices have topped $4 per gallon nationally
(Bloomberg) — Visa Inc. and Mastercard Inc. are planning a raft of changes to rules for gas stations to allow larger transactions after a surge in fuel prices across the U.S. made it hard for some drivers to fill up using credit cards.Most Read from BloombergUkraine Update: Russia Says Kyiv Makes Rare Cross-Border StrikeRussia Says Ukraine Choppers Made Rare Cross-Border StrikeUkraine Update: U.S. Steps Up Military, Defense AssistanceNever Had Covid? You May Hold Key To Beating the VirusWill Sm
Some companies are going the extra mile to unlock A.I.'s full potential.
Today is shaping up negative for Vir Biotechnology, Inc. ( NASDAQ:VIR ) shareholders, with the analysts delivering a…
Previously underexplored immune cell characteristics mapped across multiple tissues – Tech Explorist
Get the best futuristic stories straight into your inbox before everyone else!Get the best futuristic stories straight into your inbox before everyone else!Get the best