Utilize market research to best extent

It’s hard to understand why companies still don’t believe in doing market research or hire a market research company. They well understand this will enhance their ability to market their goods and services but still hesitate to use them.

The story of The Crow And The Pot Of Water suits the best to those who really don’t believe in doing market research or market survey. If we analyze today’s market which is highly volatile the story suits the best to survive. The way the crow used pebbles to drink the limited amount of water in the pot, the same way companies also need to utilize the market research tool to best extent to utilize the limited resources available.

While running a company all of us hire the best team to work and get the output we expect. But the question is how well you can utilize your team if you are not able to plan the execution. Planning involves a sense of thought that is what market research is about. Market research is not only about data or stats, it’s about understanding the market conditions and planning for the future.

If we analyze the success many of the companies have tasted is not only with their infrastructure or team they have but it’s also due to planning which they have implemented with proper execution. Market research has played an important role in success of many businesses not only with biggies like Unilever, HP, Dell Or Apple but also with small and mid-sized companies who have understood the importance.

All these years’ companies have been ignoring this important tool but within the time understood the importance. The way crow dropped the pebbles in the pot to drink water which was not within the reach, the same way we need to use market research to best extent to reach the depth of business we are into.