Describes a venue where people meet to facilitate the exchange of goods and services. A market can be physical, such as a store or shopping mall, or virtual, such as an online stock exchange. A market exists in various economic contexts, from a complete free-market economy to centralized economies where prices are determined by supply and demand with limited government intervention.
A market research report transforms raw data into actionable insights, guiding businesses to make informed decisions that drive growth. It helps stakeholders avoid reliance on guesswork by clarifying key trends and customer behaviors and integrating insights into strategic recommendations.
When you are preparing to share your findings, think about the audience for whom you’re writing the executive summary. This will shape the tone, depth and content of the summary, as well as its overall structure. For example, a summary written for a C-level executive may require different language and presentation than one written for a department head.
The quality of your market research depends on the size and makeup of the sample you use to survey participants. The more representative your sample is, the more accurate and valid your results will be. A good way to achieve this is by including people who fit your target personas and are likely to purchase your product or service. This ensures that your market research is relevant to your potential customers and provides a clearer picture of the market. It also helps to avoid skewing your findings by asking closed questions, which will only lead to yes or no answers.
About the Author
