The results of any advertising or promotions is more targeted when you do your research. Why waste money when you can find out what doesn't work! Learn about matching your product or service with specific customers looking for what you have with articles, data and reports. And use reputable sources like eMarketer for web based business.
Don't spend too much time looking at competition, you don't want to miss opportunites or trends, but keep an eye on what they do and see if its adaptable in a better format for you.
Doing market research is about working smarter not harder. Good luck, I hope you achieve your goals!
What is the effectiveness of using differ ant methods of market research to understand customers, competitors?
Different methods have different results, I suppose.
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