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Market survey – Does the business need to do it?
2022-07-25
The business environment, customers and competitors have always played an important role for businesses and organizations, influencing strategic decisions, new product launches or other process decisions, business management, and investment.
Market surveying is essential in a competitive market where too many products compete fiercely for customer acceptance and/or use. Therefore, the better you understand the market and potential customers, the more chances your business has to succeed, easily deploy business activities, as well as find opportunities for your products and services in the market.
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The benefits of market research
– Helps businesses identify potential markets for their products and services, as well as trends and prospects in that market.
– Narrow your vision and focus your efforts on a certain area. From there, businesses can distinguish priorities for a specific target market and plan for future markets on a longer-term level.
– Conduct timely assessment and correction of errors in each market.
– Get to know your competitors better.
– Can help businesses find new ideas to develop products in line with trends and customer needs.
Tips on how to do market research
When conducting a market survey, businesses need to determine that they are on the right track, paying attention to the following issues:
– Identify the problem
You need to think about why you are conducting a market research survey, and what problem you are trying to solve.
– Set research goals
After identifying your problem, the business will need to set a goal, after completing the market survey, what will the business gain in return.
– Identify the right survey object
To ensure that businesses do not lose time and costs, clearly defining the target audience is essential for each business. Objectives can be determined through methods such as investigation – survey, group discussion, in-depth interview, observation, or experiment, etc.
– Use resources and tools to help your business
Besides the traditional methods of conducting surveys, businesses can refer to online resources and tools to save time on market research.
And, similar to other outsourcing services such as outsourcing payroll, outsourcing staff,… many firms prefer to employ an Outsourcing solution for market survey services to ensure that their business makes the proper decision regarding its future direction.
Vina Payroll Outsourcing (VPO) – a reputable service provider for businesses
terra is one of the options for firms seeking for a reliable and experienced human resource management service provider to save time performing market surveys. VPO, founded by I-GLOCAL Group, one of the firms with extensive expertise in the field of tax – accounting, provides businesses with a human resource management system that includes a number of services, such as:
– terra System: Human resource management software connects the business management system intelligently through the functions of personnel data management, time attendance, leave and overtime management, salary calculation, social insurance, recruitment, training, labor contract, and personnel evaluation.
– terra Payroll: Outsourcing payroll service to assist HR departments in minimizing legal risks, optimizing company expenses, and assisting HR departments in focusing resources on other business development goals.
– terra Academy: An online training platform that offers courses to terra’s partners, clients, and the Vietnamese human resource community.
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