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A Complete Guide to Market Research

All companies exist in a specific type of market. The market contains current or potential customers, competitors, and other market players. It is a complex environment that you must research continuously. Because of that here I would like to give you the complete guide to market research you will need to conduct.

Marketing has become one of the most crucial parts of running a company. From developing promotional campaigns and content to identifying new products and services, it is one of the primary reasons businesses continue to grow. Market research is one of the most essential marketing tools, and it’s also one of the least understood.

If you want to know your target audience’s needs, wants, likes, dislikes, wants to purchase or not, you need market research. It can help you identify new market niches, get customer feedback, identify customer needs and trends, determine the best pricing strategy, and understand competitive forces within the market.

You need to understand why customers are buying specific products and services from you or your competitors. There are many different reasons and some of them buy for one reason, another for another reason, and so on. You will learn more about them if you use market research.

This article will help you understand the benefits, process, and various information sources you can use for market research. But, before we dive into the nitty-gritty details of conducting market research, let’s define the terms, so you know what you’re getting yourself into.

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10 Information Sources For Initial Market Analysis

Marketing / By Dragan Sutevski

A successful entrepreneur will always be able to choose the right products and/or services his company will offer to the customers on the market on which also exists competition. Probably someone before you have started a similar company and offered some type of products or services for the same persons on the market that you are targeting. So, before anything else, you will need to do an initial market analysis.

If there is still no competition, it is obvious that you cannot expect that it will be the same situation for a long time. The right products and services that you will need to choose to sell to your customers will become available to you only after you make the initial market analysis.

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organizational changes - drivers of organizational change

Sources of Organizational Change

Organizational Changes / By Dragan Sutevski

For all organizational change processes, there is a reason, force, cause, or source of the organizational change. Whether it is the pressure from the environment, or it is an internal pressure, each organizational change has its causes, and these causes are sources of organizational change.

What makes small businesses and entrepreneurs really successful? It is flexibility. Flexibility means that they quickly change themselves and their businesses. All entrepreneurs must have a system through which they can follow possible sources of organizational change and without any delaying to make all necessary adjustments in their work.

Organizational changes aren’t appearing from nothing or because of themselves. For any process of performing something, there are clear reasons, and the process is the result of those reasons. If the reasons don’t exist for a specific process or action, then logically there will not be the need for that process or action. Because of the continuity of the organizational changes in the business life cycle, there will always be reasons for organizational changes. This causes (forces) are called the sources of organizational change.

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