Market research provides the data needed to solve marketing's most challenging factors: Market Segmentation (identifying specific groups within a market) and Product Differentiation (creating an identity for a product or service that separates it from those of the competitors) is IMPOSSIBLE to develop without market research.
Understanding industry trends, the ever changing consumer needs, wants, likes, desires, and fads can shape where a business chooses to focus its efforts and resources.
Joint Effort offers two forms of market research
Exploratory. Exploratory market research gathers lots of open-ended data from many people to better understand a problem or opportunity.
Specific. Once you understand the larger market issues, or opportunities, you can use specific questions to gather information that could lead to a new product or service.