You've been around in the market for quite a long time now , perhaps you've heard business guys talk about market research, its importance and how it is done.   But what exactly is it ? 

Why do companies need market research? Simple, because they do not want to go and spend time designing and building  products/services without enough information in mind.  Just imagine how big South Africa is and how much you can lose if you develop services and products that people do not really need or want.  Well, this is why they do market research.  It means getting the right knowledge about their market before starting a business or launching a product. 

Generally there are two types of market research, primary and secondary.   Primary research is when one collects information directly from the source. This includes information collected through telephone surveys, interviews, focus groups sessions, and online surveys like that offered by P4YT.co.za. Talking to customers to garner feedback is often the simplest method. This is usually costly compared to secondary research, however it can be tailored to suit specific needs and is valuable especially if one needs to know something more personal. Secondary research on the other hand is conducted by looking at sources such as magazines, government publications, industry surveys, economic environment, trade associations, chambers of commerce, libraries, etc. This kind of research is usually less time consuming, less costly and may be sufficient if one only requires general information such as industry profile, trends and demographics. However most of the time this type of research is not updated.

 Market research completes any marketing strategy.  It becomes an indispensable part of product development and a tool to search for various market factors that affect business development, consumer behavior and existing products.  And this is why companies are willing to reward people like you to participate in online surveys. It’s a great, simple and easy way for you to make money online. And all you’re doing is answering questions about yourself. How easy is that? And most online surveys are only 10 to 15 minutes. So join www.p4yt.co.za now and make money online, easily.