Out of the Darkness and Into the Light
The Shining Beacon of Market Research
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"The price of light is less than the cost of darkness." - Arthur C. Nielsen
Renowned market researcher and the Founder of AC Nielsen, Arthur C. Nielsen, when asked of the value of research said, "The price of light is less than the cost of darkness." His quote encapsulates the true value of market research and the understanding it can bring to bear for those who seek it out.
Market research offers industry players valuable information that can literally change the trajectory of their business. Research can provide thoughtful and impactful insights into a multitude of critical elements that influence how a business performs, among them:
- Understanding the competitive landscape and which competitor's voice is being heard the loudest, and whose brand resonates the most with consumers;
- Gaining insight into the cause of business slumps, be it external market forces or internal business practices;
- Gaining a grasp of consumer attitudes and behaviors in respect to health and fitness or your business's value proposition;
- Apprehending the needs and wants of members and what drives value for them;
- Comprehending how well you deliver on your customer's, member's and even employee's expectations and its influence on your business's financial viability;
- Understanding industry trends across realms such as operations, programming and finance and how they can be used to position your business more effectively for success; and
- Offering insight into key industry benchmarks that can be used to provide comparative and supportive data that banks and investors need to make decisions regarding whether to invest or loan you capital.
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