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Market research is the process of determining the existence of a market, its size, competitive situation, purchasing and use of products or services, and consumer evaluations. In the past, this was done through research on purchasing conditions, sales plans, product plans, and demand forecasts, but these methods mainly analyzed only markets where actual purchases occurred. As a result, there were limitations in understanding consumer perceptions and potential future markets. With the advent of Listening Mind Hubble, market research has recently shown the potential to overcome these limitations. By analyzing keywords that reflect products, brands, and consumer desires and concerns, and examining the search volume for these keywords, you can predict market trends that will be realized in the future.


This helps you understand the market from a broader perspective and discover potential opportunities compared [url=https://dbtodata.com/cambodia-number-data/]Cambodia Phone Number Data[/url] to past market research methods. 1. Importance and purpose of market research The first step in establishing a successful business strategy is to understand the market and consumers through market research and apply the insights found here to product planning and marketing communications overall. This is a famous example that became known when introducing the job theory, but 'the reason people order milkshakes on their way to work is not simply because the milkshakes taste great or are cheap, but because they feel relatively hungry while driving to work. Through research, we learn that ‘this is because it soothes for a long time’, which becomes an important basis for deciding the direction of future product development. In this way, a deep understanding of market and consumer reactions and responding appropriately is the key to business success. In this sense, market research is important.

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This important market research is not an attempt to sell products to customers (push approach) by identifying the hidden intentions behind customer behavior, but rather a way for customers to find and purchase products on their own based on their own needs. In other words, it makes it possible to establish a ‘pull approach’ strategy. 2. Market research success story: CJ ‘Bibigo Dumplings’ Tyrrell Hatton (left) and Adam Scott making food using dumplings at the Bibigo Korean Food the U.S. PGA Tour's The CJ Cup. Photo = CJ CheilJedang CJ's 'Bibigo Dumplings' posted overseas sales of KRW 820 billion last year, a 59% increase. In particular, in the United States, we achieved such remarkable results that a 'K-Mandu' syndrome was created centered around 'Bibigo Mandu'. CJ CheilJedang's bibigo dumplings, which turned the market upside down, beat Japan's Lingling to take first place in 2016, five years after entering the U.S., and have remained in first place ever since.