Understanding your customers is a key ingredient of a successful organization. Existing customers are an important source of valuable information and using market research, specifically surveys to obtain this information is an easy and cost effective way to gather market intelligence about your most valuable asset – your customers.
Managers and marketers who utilize market research to develop customer profiles based upon different market segments have a competitive advantage because they are able to target each group with specific opportunities and offers based upon their needs. Creating a series of customer profiles enables organizations to fully understand how their customers think, feel and behave. Having a broad knowledge of your customer’s demographic and psychographic characteristics as well as their attitudes and buying behavior, enables companies to better communicate with the people who matter most to their businesses.
The prime advantage of such a service to businesses is that they are able to gain tremendous knowledge about their customers which in turn helps them to take planned and strategic business decisions pertaining to products, services and business prospects and also gain insight about market availability.