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Profitable Business? Understand Your Market
The Importance of Market Research Market research is a fundamental component in laying the groundwork for a profitable business. It involves the systematic gathering, recording, and analyzing of data about your target market, competitors, and the broader industry environment. This process helps you gain invaluable insights into potential customers’ needs, preferences, and behaviors. Understanding these…
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Leveraging Psychographics in Market Research
Understanding your audience is a cornerstone of effective marketing strategies. This involves not just knowing who they are but also understanding what motivates them. This is where psychographics come into play. Psychographics is the study of consumers based on their activities, interests, opinions, attitudes, values, and lifestyle. Unlike demographics, which categorize individuals based on objective…
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