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In today’s fast-paced businessenvironment, staying ahead of market-moving trends , understanding consumer behavior, and tracking industry developments are essential to maintaining a competitive edge.
And this is all essential intel to capture, as a strategy that’s not rooted in this knowledge is riddled with assumptions and destined to fail. And this is the exact opposite of what needs to happen in today’s consumer-driven businessenvironment. Primary vs. secondary research.
Academic and scientific institutions are some of the most prolific sources of secondary market research data. Academia conducts research because it is driven by the quest for knowledge and science has a similar motivation: to find answers (hence solutions) to current problems. Identifying research gaps is easy.
Expert networks are a critical tool for market intelligence and are leveraged by professionals to gain firsthand knowledge of specialized industries, companies, and markets. One common misconception is the view that expert perspectives may introduce a potential risk for bias in the research process.
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