Steve Jobs on Market Research
Steve Jobs was an American businessman, inventor, and industrial designer. He was the co-founder, chairman, and chief executive officer (CEO) of Apple Inc.; CEO and majority shareholder of Pixar. Jobs was widely recognized as a pioneer of the personal computer revolution, along with Apple co-founder Steve Wozniak. Market research played an important part of Apple's success and here in a short video outlines his thoughts on where and where not research can really help.
Market research involves many disciplines and helps companies achieve success in many way. In particular; enabling them to identify their target market, find out what existing and potential buyers think about the product or brand, and gather business and consumer insights to help improve decision making and overall success.
This video nicely introduces the ideas of how consumer insight and marketing research can help you and why so many companies do market research. For further information read our article on Why Market Research Matters.
When should you do market research?
Market research should be part of your business strategy. It can be undertaken at any stage - from idea generation and exploring business issues, right through to product development and market testing. It is important to note that people's circumstances and motivation change over time so you should really consider reviewing your research on a regular basis - especially when new competitors enter the market.
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