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Market Research Firms Washington DC

This page provides relevant content and local businesses that can help with your search for information on Market Research Firms. You will find informative articles about Market Research Firms, including "3 Really Good Reasons to Invest in Market Research Now". Below you will also find local businesses that may provide the products or services you are looking for. Please scroll down to find the local resources in Washington, DC that can help answer your questions about Market Research Firms.

Away.Com Inc
(202) 654-8000
702 H St NW Ste 200
Washington, DC

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Unicor Services Business Group
(202) 305-3954
400 1ST St NW
Washington, DC

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National Public Radio
(202) 513-2000
635 Massachusetts Ave., NW
Washington, DC
 
Don Schaff & Friends
(202) 965-2600
1313 F St NW
Washington, DC

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Aarrow Advertising
(202) 737-1369
1029 Vermont Ave., NW
Washington, DC
 
Journal Of Commerce Inc
(202) 355-1150
1270 National Press Building
Washington, DC

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Jbf Associate
(202) 338-9000
777 7TH St NW
Washington, DC

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Washington Economic Partners
(202) 661-8670
1495 F St NW
Washington, DC

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First Fridays DC
(202) 829-2668
1718 M St., NW
Washington, DC
 
Lloyd Greenberg Design
(202) 332-3003
1711 Lanier Pl NW
Washington, DC

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3 Really Good Reasons to Invest in Market Research Now

By Anne Ramstetter Wenzel

Many small and home-based business owners wonder, "What is market research, and why should I spend time and money to do it?" 

Market research is investigating and carefully studying your customers, competitors and industry conditions. Below are the three major reasons your business would benefit from market research.

1) Market research tells you whether or not there's demand for your product or service. Even the most passionate of entrepreneurs will become disillusioned if few are interested in buying his or her goods or services. One obvious sign of demand is the presence of strong competition. But there is also "latent" demand, a strong, unmet need in the marketplace. This is where you can get creative! You (or a market researcher you hire) can interview or survey people or companies (or read the results of surveys conducted by others) to see if your product or service idea might fulfill an unmet in the market place.

Home office ink jet printers is an example of a market that didn't exist 20 years ago. Last week, I was interviewed by a Human Factor specialist from Ideo (www.ideo.com, Palo Alto, California) about my home office printing needs. While the information gathered from my interview will be used as input to help design the next generation ink jet printers for home office use, the pioneers in the industry had no current customers to interview. Good thing the ink jet industry pioneers didn't say, "Hmm, no one is using printers at home now, maybe it's not such a good idea..."

2) Market research answers the question, "What kind of person or company is most likely to buy my product or service?"

Knowing the demographic profile of your customer base allows you to more easily estimate the size of your market, using Census, trade association or other data. The knowledge also helps you make smarter marketing and advertising decisions.

Armed with your potential customer "demographic profile," you match the demographics of your potential customers with potential advertisers before you advertise. Most media companies (newspapers, magazines, radio and television stations) regularly conduct surveys so that they can provide up-to-date reader/viewer demographic information to their advertisers. For example, travel companies wanting to reach ecotourists (those that enjoy nature- and culture- based tourism) might want to advertise in the San Jose Mercury News' arts & enternatinment section (ecotourists are, on average, 35 - 54 years old, about 80% are college graduates, earn higher-than- average incomes, and prefer to travel as couples). The San Jose Mercury News arts & entertainment section is read by 63% of all married adults, and 71% of all adults with household incomes of $150,000 or more in Santa Clara county (see http://www.mercurynews.info/advertising/MN/INDEX.HTM for readers' demographic information for all the sections of The San Jose Mercury News).

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