The Value of Business Strategy for Growth
Why do growth companies conduct market research? It’s not a prerequisite, there is no unwritten rule, and market research often takes time, slowing the process. So why do high growth companies spend time and money conducting market research? The answer is simple: well executed market research reduces risk.
Market research yields the answers to the strategic questions necessary in developing a growth strategy that has a much greater chance of success. Conversely, the data from well executed market research may cause you to stop the pursuit of growth in certain markets, potentially saving millions of dollars.
PMG believes that market research provides the data necessary to make better-informed business decisions, increasing the chance of success and reducing the risk of failure.