It also produces some companies who are surprisingly involved and competitive in a line of business that might otherwise go unwatched. Most crystal balls are cloudy but information about demographics including changing home sales trends or concerns about the quality of schools or increasing crime statistics can all prove useful to a business. The Census data of the U.S. government can be very insightful on these issues. Far and away the best source of market information is the customer. However, do not neglect other sources of potential information.
Market research is ongoing.
It is conducted before and after starting a business or developing a marketing program. Market research is relatively easy to conduct. It requires asking questions, recording the answers and studying the results. If the project is large in scope and involves tracking people who are not present customers, a market research firm probably makes more sense. A business needs to know how big the market is, whether it is clearly identified and whether is growing and if it can be segmented.