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TECHNOLOGY: Market research tools

As with every other area of business practice, technology has had a major impact on how market research is conducted in B2B.

Widely used in B2C, market research in B2B has not been fully utilised for a variety of reasons. A general lack of awareness of its benefits has often relegated it to an afterthought, with insufficient time allocated and too small a sample of customers questioned to produce a reliable response.

There is also a common perception that market research yields poor ROI, so it is often seen as a cost rather than an investment. Many companies take the view that, because their market is relatively small, they know enough about it not to undertake a bespoke, focused research campaign.