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  • Market Research Business

    Market research business is the process of collecting different pieces of information about consumers’ needs and competitors’ activities with the aim of creating an effective marketing strategy for promoting a certain product or service.

    This is a B2B business serving other businesses, manufacturers, suppliers, creators as well as solopreneurs.

    The global market research industry is worth over $75 Billion per year and is only expected to grow in the near future due to the excessive growth of consumer demand in most niches.

    Business Model

    ●     Market Research Services;

    ●     On Demand Research Services;

    ●     On Demand Research Services;

    ●     Advertising Agency;

    ●     Market Research & Competitor Research Services;

    ●     Market Research & Media Measurement Solutions.

    Tools & Equipment

    Doing market research for your customers is a white-collar business. You will have to set up a company, purchase computers, office stationery and hire experts (both online and offline marketers, data analysts, statists).

    Online tools you will need for this are Google Keyword Tools, Social Mention, Think With Google, Stats iQ, R Studio, Google Trends, Goole Alerts, Google Analytics and others.

    You might consider expanding your business and opening another department, since doing market research is one thing, and promoting products and services is quite another. In case you decide to run a full-service advertising agency, you will have to hire SEO experts, crowd marketing specialists and get access to various tools such as Google Keyword Planner, Keyworddit, Hunter.io and others.


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