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What Are The Types of Market Research?

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Market research is considered to be the key to the success of any company. Especially for companies that have little to no experience in operating in a specific market, market research can be helpful. Market research involves gathering various kinds of data from the market to learn more about the market. If you want to expand your business in Myanmar then you can consider hiring a company that specializes in market research in Myanmar .  Market research can be of various types and can be done by different procedures to meet different targets. Two of the major types of market research are quantitive market research and qualitative market research . While quantitative market research focuses on collecting more data, quantitative market research is done to get a deeper insight into the market.  Market research can also be classified into various types depending on the objective of the market research. Some of the most notable types of market research include :  Brand research  Market rese

Global Market Research - An Essential Before Expanding Business Internationally

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The expansion of a business is considered to be very important for the long-term success of any company. With business expansion, a company can open doors for more profits and can reach out to more customers. However, after some time, the market of a particular country might become saturated, and there might not be enough room for expansion. In such a case, the companies will have to expand their business internationally and start business operations in new countries.  However, expanding a business internationally can be more challenging than simply expanding the business within a single country. The customer behavior of different countries can vary significantly. Hence, before a company plans for international expansion, it must try to find out more about the customer behavior of the countries where it wants to expand. Hiring global market research companies can be very helpful in collecting and analyzing information regarding customer behavior in a particular country.  You see, what

Times when you should opt for qualitative market research

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In today's market, customer satisfaction is everything, and if a business is unable to understand the customer needs then they will not be able to achieve success. For this reason, plenty of companies nowadays choose market research, and it is considered to be very important for the success of any business. With the help of proper market research, a business can get an idea of what the customers want and can satisfy their needs.  There are various types of market research, and one of the most popular types of market research becoming prevalent in recent times is qualitative market research . In this type of market research, in-depth research is being done in the market, and the main focus of the research is quality instead of quantity. This type of market research can be helpful in the following ways:  Branding  If you want better branding for your company then performing in-depth market research is very important. Plenty of companies fail to understand how the customers perceive t