Market Research in Middle East

Market Research in Middle East The procedure of understanding the feasibility of a new service or good through the in-depth research allows a company to figure out behavior of target market and opinions of consumers regarding the product. By assessing the industry shifts, preference of customers, changing needs of consumers, legislative trends, and other aspects can shape the success of a business. Organizations can choose to focus their resources and efforts to the value generating areas. Market research in the Middle East, conducted by IMR, can provide an opportunity to analyze the recent growth trends of different industries across the region and recognize the potential and viability of untapped industries.

Data Types for Market Research

Although there are many innovative and conventional market research tools, market research data are of two types only:

Primary Information

Primary data is the initial information that a company gathered itself, or with the assistance of a market research consultant. This first-hand data can be controlled and help finding the current or recurrent issues.

Secondary Information

This type of data pre-existed information which is public and can be found in newspapers, magazines, and industry or government reports. The information is available to large group, but companies can use it for their success.

Process of Market Research

To successfully complete the market research process, a business must take up an extensive array of tasks. It is required to gather authentic information that is based on the market segment being examined. The company should interpret and analyse the resulting data and outcomes to determine the relevant data points or specific patterns that are useful in the process of decision-making.