Entering the world of insights
While most business entrants are already conducting market research to usher their brainchild in the market, many of them do not realize that they are conducting ‘research’ for the business. The terminology appears to be fancy to the layman. In the business world, any decision made on the basis of ‘market research’ has more value than the one without a research background. So what’s the ‘market research’ fuss all about? It is around you, but are you aware of it? For a local restaurant, discovering the fact that customers get more attracted to a particular dish ordered by other customers can also be insightful. That’s how a hotelier in New York started taking his best dishes on a ‘table tour’ and made money. He only urged his servers to walk around the hotel with their best dish in the hands. This attracted many customers and the dishes became famous. The insight here may be on a small level, however, it turned out to be crucial for the business. Speaking of the b...
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