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Explore New Business Opportunities With Internet Market Research

Maneet Puri

March 05, 2009

Research is an integral part of all marketing initiatives, be it formulating a campaign or launching a new product. Comprehensive market research enables a business to recognize the needs and requirements or its niche audiences and helps in formulating strategic business decisions. Strategies based on sound market research deliver excellent results and create increased revenue for the company.

Venues of Market Research
Market research is an extensive process. Information is collected from a vast variety of sources that may consist of both offline and online sources. Apart from this there are also other means of extracting information

Offline sources – It may include many print resources like yellow pages, directories, annual reports of companies and so on.

Other Means – It includes focus groups and questionnaires. Both these sources examine quantitative and qualitative factors like verbal and visual information. They serve to acquire fairly reliable information about the audiences.

Online sources – This is perhaps the most widely used source of information gathering. This is because the world wide web is an unlimited pool of knowledge and about every business worth its money has solid presence here. Gathering information online ensures that you get timely, accurate and unbiased information directly from your niche audiences.

Internet Market Research
The Internet offers tremendous potential and scope for market research. Everyday about 60,000 new websites get launched on the world wide web and millions of web pages are added. And every company and business that is serious about becoming a success has presence on the internet and not only mere presence but very active and continuously growing presence. Internet makes it very easy and convenient to gather information owing to high speed, absolutely low costs that is almost negligible and all this in an environment of anonymity. It is as it is effective as an individual stand alone procedure. However, in combination with traditional methods, its efficiency is even more enhanced. It offers valuable insight into various aspects of the industry and lets you know intrinsic details about the same.

Role of Search Engines in Internet Market Research
Search engines play an important role in the internet market research mechanisms. All that needs to be done is entering a search phrases and instantly there are delivered millions of links to web pages that contain related content. Search engines help locate not only the desired information but also help To find related content.

One reason why search engines deliver quality information is that search engine users type unprompted words and phrases into the search boxes that are uninfluenced and unbiased. This is what makes the information gathered from these sources invaluable from the perspective of market research. The search engines are unanimously used by millions of people across the world. This can be a strong and reliable data to base your marketing decisions on. Internet market research is widely used by business enterprises to enhance their business. And there are several outsourcing service providers who offer professional internet market research services to businesses at competitive rates.

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